BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 38.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 707,175 shares of the company’s stock after buying an additional 195,246 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 2.26% of iRhythm Technologies worth $52,501,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in IRTC. Nisa Investment Advisors LLC grew its stake in iRhythm Technologies by 79.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after purchasing an additional 277 shares during the last quarter. SG Americas Securities LLC purchased a new stake in iRhythm Technologies in the first quarter valued at approximately $126,000. Russell Investments Group Ltd. increased its holdings in iRhythm Technologies by 79,700.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock worth $185,000 after buying an additional 1,594 shares during the period. nVerses Capital LLC raised its position in iRhythm Technologies by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $148,000 after buying an additional 1,600 shares during the last quarter. Finally, SeaCrest Wealth Management LLC lifted its stake in iRhythm Technologies by 7.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock valued at $229,000 after acquiring an additional 150 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IRTC. Robert W. Baird cut their price objective 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. Truist Financial increased their price target on iRhythm Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC decreased their price objective on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Citigroup decreased their price target on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $108.50.

iRhythm Technologies Stock Up 0.7 %

iRhythm Technologies stock opened at $74.24 on Friday. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The stock has a market capitalization of $2.32 billion, a PE ratio of -15.27 and a beta of 1.23. The business has a 50 day simple moving average of $72.81 and a 200-day simple moving average of $82.45. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The company had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. iRhythm Technologies’s revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.89) EPS. On average, analysts anticipate that iRhythm Technologies, Inc. will post -3.44 EPS for the current fiscal year.

Insider Buying and Selling

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar bought 6,664 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was acquired at an average price of $75.16 per share, with a total value of $500,866.24. Following the completion of the acquisition, the director now directly owns 18,941 shares of the company’s stock, valued at $1,423,605.56. This represents a 54.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the sale, the chief executive officer now owns 159,929 shares of the company’s stock, valued at $12,380,103.89. This trade represents a 9.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

iRhythm Technologies Company 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.