Alberta Investment Management Corp Acquires 50,452 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Alberta Investment Management Corp boosted its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 53.3% in the fourth quarter, HoldingsChannel reports. The firm owned 145,166 shares of the company’s stock after purchasing an additional 50,452 shares during the period. Alberta Investment Management Corp’s holdings in iRhythm Technologies were worth $13,090,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its stake in iRhythm Technologies by 1.3% in the third quarter. State Street Corp now owns 908,843 shares of the company’s stock valued at $67,473,000 after acquiring an additional 11,992 shares during the period. Braidwell LP lifted its holdings in iRhythm Technologies by 48.7% during the third quarter. Braidwell LP now owns 782,557 shares of the company’s stock worth $58,097,000 after acquiring an additional 256,200 shares during the period. Eventide Asset Management LLC lifted its holdings in iRhythm Technologies by 170.8% during the third quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock worth $54,694,000 after acquiring an additional 464,629 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of 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 during the period.

Insider Transactions at iRhythm Technologies

In other news, insider Patrick Michael Murphy sold 2,492 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the transaction, the insider now directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.68% of the company’s stock.

iRhythm Technologies Price Performance

IRTC opened at $112.41 on Wednesday. The stock has a 50-day moving average price of $99.65 and a 200-day moving average price of $82.58. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $124.11. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00.

Wall Street Analysts Forecast Growth

IRTC has been the topic of a number of analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $86.00 price objective on shares of iRhythm Technologies in a research note on Tuesday, December 3rd. Truist Financial boosted their price objective on iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Oppenheimer boosted their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Needham & Company LLC boosted their price objective on iRhythm Technologies from $96.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Robert W. Baird reduced their target price on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.