Amundi Increases Stock Position in iRhythm Technologies $IRTC

Amundi boosted its stake in iRhythm Technologies (NASDAQ:IRTC - Free Report) by 48.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,575 shares of the company's stock after buying an additional 16,165 shares during the quarter. Amundi owned approximately 0.15% of iRhythm Technologies worth $5,851,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. California State Teachers Retirement System boosted its position in iRhythm Technologies by 22.1% during the first quarter. California State Teachers Retirement System now owns 37,324 shares of the company's stock worth $4,405,000 after acquiring an additional 6,763 shares during the last quarter. Rock Springs Capital Management LP raised its holdings in shares of iRhythm Technologies by 11.4% in the 1st quarter. Rock Springs Capital Management LP now owns 261,750 shares of the company's stock worth $30,892,000 after purchasing an additional 26,750 shares during the period. The Manufacturers Life Insurance Company grew its stake in iRhythm Technologies by 99.2% during the first quarter. The Manufacturers Life Insurance Company now owns 390,577 shares of the company's stock worth $46,096,000 after buying an additional 194,502 shares during the period. Quantinno Capital Management LP boosted its position in iRhythm Technologies by 1,172.8% during the 1st quarter. Quantinno Capital Management LP now owns 18,621 shares of the company's stock worth $2,198,000 after purchasing an additional 17,158 shares during the period. Finally, First Light Asset Management LLC grew its stake in shares of iRhythm Technologies by 9.3% in the first quarter. First Light Asset Management LLC now owns 168,116 shares of the company's stock valued at $19,841,000 after buying an additional 14,245 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Canaccord Genuity Group dropped their price objective on iRhythm Technologies from $180.00 to $152.00 and set a "buy" rating on the stock in a report on Monday, June 1st. Needham & Company LLC increased their target price on shares of iRhythm Technologies from $254.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Wall Street Zen raised iRhythm Technologies from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Bank of America reduced their target price on shares of iRhythm Technologies from $225.00 to $180.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Finally, HC Wainwright reissued a "buy" rating on shares of iRhythm Technologies in a report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $184.71.

iRhythm Technologies Trading Down 2.1%

iRhythm Technologies stock opened at $124.50 on Thursday. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of -144.77 and a beta of 1.30. The company has a 50 day moving average price of $114.51 and a 200 day moving average price of $124.83. The company has a debt-to-equity ratio of 4.03, a quick ratio of 4.98 and a current ratio of 5.17. iRhythm Technologies has a 52 week low of $100.85 and a 52 week high of $212.00.

Insiders Place Their Bets

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar bought 5,312 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $10.71 per share, with a total value of $56,891.52. Following the purchase, the director directly owned 25,611 shares in the company, valued at $274,293.81. The trade was a 26.17% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.98% of the stock is currently owned by company insiders.

iRhythm Technologies Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company's flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm's digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.

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