Fiera Capital Corp Raises Stock Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Fiera Capital Corp increased its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 399,200 shares of the company’s stock after purchasing an additional 1,421 shares during the period. Fiera Capital Corp owned 1.30% of iRhythm Technologies worth $42,730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in IRTC. Principal Financial Group Inc. grew its stake in shares of iRhythm Technologies by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 7,208 shares of the company’s stock valued at $772,000 after acquiring an additional 113 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its position in shares of iRhythm Technologies by 1.4% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 10,059 shares of the company’s stock valued at $948,000 after purchasing an additional 137 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of iRhythm Technologies by 3.3% during the 4th quarter. Handelsbanken Fonder AB now owns 6,239 shares of the company’s stock valued at $668,000 after buying an additional 200 shares during the last quarter. Covestor Ltd grew its position in shares of iRhythm Technologies by 285.2% during the third quarter. Covestor Ltd now owns 312 shares of the company’s stock worth $29,000 after buying an additional 231 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of iRhythm Technologies by 110.3% in the third quarter. Nisa Investment Advisors LLC now owns 574 shares of the company’s stock worth $54,000 after buying an additional 301 shares during the last quarter.

Insider Activity at iRhythm Technologies

In other news, CEO Quentin S. Blackford sold 24,701 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $3,012,533.96. Following the completion of the sale, the chief executive officer now owns 180,015 shares in the company, valued at $21,954,629.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other iRhythm Technologies news, CEO Quentin S. Blackford sold 24,701 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $3,012,533.96. Following the transaction, the chief executive officer now owns 180,015 shares of the company’s stock, valued at $21,954,629.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick Michael Murphy sold 7,615 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $928,725.40. Following the transaction, the insider now owns 48,962 shares of the company’s stock, valued at approximately $5,971,405.52. The disclosure for this sale can be found here. Insiders sold 35,052 shares of company stock valued at $4,274,942 over the last ninety days. 0.68% of the stock is owned by insiders.

iRhythm Technologies Stock Performance

Shares of NASDAQ:IRTC traded down $1.89 on Thursday, hitting $98.70. 173,287 shares of the company were exchanged, compared to its average volume of 425,122. The company has a debt-to-equity ratio of 7.13, a quick ratio of 6.95 and a current ratio of 7.10. The company’s 50 day moving average price is $109.04 and its two-hundred day moving average price is $104.41. iRhythm Technologies, Inc. has a one year low of $70.24 and a one year high of $132.92. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -23.78 and a beta of 1.31.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.66). iRhythm Technologies had a negative return on equity of 69.87% and a negative net margin of 25.33%. The business had revenue of $132.51 million for the quarter, compared to the consensus estimate of $131.14 million. Research analysts expect that iRhythm Technologies, Inc. will post -3.22 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Needham & Company LLC boosted their target price on iRhythm Technologies from $137.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Canaccord Genuity Group decreased their price target on iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.00.

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.