Allspring Global Investments Holdings LLC Has $50.99 Million Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Allspring Global Investments Holdings LLC boosted its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 570,048 shares of the company’s stock after purchasing an additional 50,075 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.82% of iRhythm Technologies worth $50,991,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in iRhythm Technologies by 1.3% during the third quarter. State Street Corp now owns 908,843 shares of the company’s stock valued at $67,473,000 after purchasing an additional 11,992 shares during the period. Braidwell LP lifted its stake in iRhythm Technologies by 48.7% in the third quarter. Braidwell LP now owns 782,557 shares of the company’s stock valued at $58,097,000 after buying an additional 256,200 shares in the last quarter. Eventide Asset Management LLC lifted its stake in iRhythm Technologies by 170.8% in the third quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock valued at $54,694,000 after buying an additional 464,629 shares in the last quarter. Geode Capital Management LLC lifted its stake in iRhythm Technologies by 0.7% in the third quarter. Geode Capital Management LLC now owns 733,308 shares of the company’s stock valued at $54,451,000 after buying an additional 5,423 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in iRhythm Technologies by 38.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock valued at $52,501,000 after buying an additional 195,246 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IRTC. Oppenheimer lifted their price target 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. Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC lifted their price target 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. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $86.00 price target on shares of iRhythm Technologies in a research note on Tuesday, December 3rd. Finally, Robert W. Baird cut their price target on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.45.

Insider Buying and Selling

In related news, insider Patrick Michael Murphy sold 2,492 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. The trade was a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.68% of the stock is owned by corporate insiders.

iRhythm Technologies Price Performance

Shares of IRTC opened at $112.19 on Friday. The company has a market cap of $3.51 billion, a price-to-earnings ratio of -23.08 and a beta of 1.29. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $124.11. The company’s fifty day simple moving average is $97.91 and its 200 day simple moving average is $82.09. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00.

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.