iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Purchased by Peregrine Capital Management LLC

Peregrine Capital Management LLC increased its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,153 shares of the company’s stock after acquiring an additional 1,110 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.32% of iRhythm Technologies worth $8,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in iRhythm Technologies by 9.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 519,973 shares of the company’s stock valued at $38,603,000 after buying an additional 44,387 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in iRhythm Technologies by 22.3% during the third quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company’s stock worth $231,000 after buying an additional 567 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in iRhythm Technologies by 27.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,512 shares of the company’s stock worth $261,000 after buying an additional 754 shares during the period. Values First Advisors Inc. purchased a new position in iRhythm Technologies during the third quarter worth about $380,000. Finally, SteelPeak Wealth LLC purchased a new position in iRhythm Technologies during the third quarter worth about $592,000.

iRhythm Technologies Stock Down 0.1 %

Shares of NASDAQ:IRTC opened at $112.11 on Tuesday. The firm’s 50 day moving average price is $99.07 and its 200 day moving average price is $82.39. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of -23.07 and a beta of 1.29. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $124.11. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total transaction of $214,037.88. Following the sale, the insider now owns 35,327 shares of the company’s stock, valued at approximately $3,034,236.03. This trade represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

IRTC has been the subject of several research analyst reports. Canaccord Genuity Group increased their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Robert W. Baird lowered their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Needham & Company LLC raised their price objective on shares of iRhythm Technologies from $96.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Oppenheimer raised their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Finally, Truist Financial raised their price objective on shares of iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $108.45.

About iRhythm Technologies

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.