Banque Pictet & Cie SA Grows Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Banque Pictet & Cie SA increased its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 12.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,264 shares of the company’s stock after acquiring an additional 6,696 shares during the quarter. Banque Pictet & Cie SA owned about 0.19% of iRhythm Technologies worth $5,344,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in iRhythm Technologies in the 4th quarter worth approximately $45,000. Van ECK Associates Corp boosted its stake in iRhythm Technologies by 41.3% in the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after purchasing an additional 162 shares during the period. Quarry LP bought a new position in iRhythm Technologies in the 3rd quarter worth approximately $59,000. Nisa Investment Advisors LLC boosted its stake in iRhythm Technologies by 166.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock worth $94,000 after purchasing an additional 648 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in iRhythm Technologies in the 3rd quarter worth approximately $119,000.

Insider Activity at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 2,492 shares of the stock in a transaction on Monday, December 2nd. The stock was 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 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 filing with the SEC, which is accessible through this hyperlink. 0.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Oppenheimer upped their price target on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Wells Fargo & Company restated an “equal weight” rating and issued a $86.00 price target on shares of iRhythm Technologies in a research note on Tuesday, December 3rd. Truist Financial upped their price target on iRhythm Technologies from $85.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Needham & Company LLC upped their price target on iRhythm Technologies from $96.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Robert W. Baird dropped their price target on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.45.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $112.11 on Friday. The stock’s fifty day moving average is $98.53 and its 200 day moving average is $82.30. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $124.11. The firm has a market capitalization of $3.51 billion, a PE ratio of -23.07 and a beta of 1.29. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27.

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.