Envestnet Asset Management Inc. grew its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 112.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,104 shares of the company's stock after purchasing an additional 17,542 shares during the period. Envestnet Asset Management Inc. owned approximately 0.11% of iRhythm Technologies worth $3,120,000 as of its most recent SEC filing.
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A number of other large investors have also recently modified their holdings of IRTC. Nisa Investment Advisors LLC boosted its stake in shares of iRhythm Technologies by 110.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 574 shares of the company's stock valued at $54,000 after purchasing an additional 301 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of iRhythm Technologies during the 2nd quarter valued at about $85,000. Captrust Financial Advisors boosted its stake in shares of iRhythm Technologies by 102.3% during the 2nd quarter. Captrust Financial Advisors now owns 985 shares of the company's stock valued at $106,000 after purchasing an additional 498 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of iRhythm Technologies during the 2nd quarter valued at about $192,000. Finally, Point72 Middle East FZE bought a new stake in shares of iRhythm Technologies during the 4th quarter valued at about $209,000.
iRhythm Technologies Stock Down 0.3 %
Shares of iRhythm Technologies stock opened at $111.66 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 2.15. The stock has a market capitalization of $3.46 billion, a PE ratio of -27.57 and a beta of 1.30. iRhythm Technologies, Inc. has a 52-week low of $70.24 and a 52-week high of $140.23. The company has a 50-day simple moving average of $113.50 and a two-hundred day simple moving average of $98.32.
Insiders Place Their Bets
In other iRhythm Technologies news, EVP Daniel G. Wilson sold 7,218 shares of iRhythm Technologies stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $103.31, for a total value of $745,691.58. Following the completion of the transaction, the executive vice president now directly owns 26,629 shares of the company's stock, valued at $2,751,041.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Quentin S. Blackford sold 24,701 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $3,012,533.96. Following the completion of the transaction, the chief executive officer now directly owns 180,015 shares of the company's stock, valued at $21,954,629.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel G. Wilson sold 7,218 shares of the business's stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $103.31, for a total transaction of $745,691.58. Following the transaction, the executive vice president now directly owns 26,629 shares of the company's stock, valued at $2,751,041.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,270 shares of company stock valued at $5,020,634. Insiders own 0.43% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on IRTC shares. Needham & Company LLC boosted their price objective on shares of iRhythm Technologies from $136.00 to $137.00 and gave the stock a "buy" rating in a research note on Friday, February 23rd. Citigroup raised shares of iRhythm Technologies from a "neutral" rating to a "buy" rating and set a $110.00 price objective on the stock in a research note on Monday, December 11th. Truist Financial boosted their price objective on shares of iRhythm Technologies from $115.00 to $133.00 and gave the stock a "buy" rating in a research note on Friday, December 22nd. Canaccord Genuity Group boosted their price objective on shares of iRhythm Technologies from $121.00 to $133.00 and gave the stock a "buy" rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of iRhythm Technologies from $142.00 to $133.00 and set an "overweight" rating on the stock in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, iRhythm Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.11.
Get Our Latest Analysis on iRhythm Technologies
iRhythm Technologies Profile
(Free Report)
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
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