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

Allspring Global Investments Holdings LLC raised its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 9.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 570,048 shares of the company’s stock after buying an additional 50,075 shares during the period. Allspring Global Investments Holdings LLC’s holdings in iRhythm Technologies were worth $50,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of IRTC. Eventide Asset Management LLC increased its holdings in shares of 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 purchasing an additional 464,629 shares during the last quarter. Braidwell LP increased its holdings in shares of 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 purchasing an additional 256,200 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings 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 purchasing an additional 195,246 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of iRhythm Technologies by 25.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company’s stock valued at $45,349,000 after purchasing an additional 102,600 shares during the last quarter. Finally, Fred Alger Management LLC grew its stake in shares of iRhythm Technologies by 24.4% in the third quarter. Fred Alger Management LLC now owns 314,117 shares of the company’s stock valued at $23,320,000 after acquiring an additional 61,696 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Canaccord Genuity Group upped 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. Robert W. Baird decreased 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. Needham & Company LLC upped 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. Truist Financial upped their price target 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. Finally, 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. 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 MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and an average target price of $108.45.

iRhythm Technologies Trading Up 0.9 %

IRTC opened at $112.19 on Friday. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $124.11. The company has a 50-day simple moving average of $97.91 and a 200 day simple moving average of $82.09. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -23.08 and a beta of 1.29.

Insider Buying and Selling

In other news, insider Patrick Michael Murphy sold 2,492 shares of the stock in a transaction dated Monday, December 2nd. The shares were 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 owns 35,327 shares of the company’s stock, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.68% of the stock is currently owned by company insiders.

iRhythm Technologies Profile

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.