WCM Investment Management LLC Has $12.01 Million Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

WCM Investment Management LLC lessened its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 2.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 138,202 shares of the company’s stock after selling 2,931 shares during the period. WCM Investment Management LLC’s holdings in iRhythm Technologies were worth $12,013,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IRTC. Creative Planning bought a new position in shares of iRhythm Technologies during the 2nd quarter valued at $385,000. Handelsbanken Fonder AB increased its position in iRhythm Technologies by 34.0% during the third quarter. Handelsbanken Fonder AB now owns 10,239 shares of the company’s stock worth $760,000 after buying an additional 2,600 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in iRhythm Technologies by 34.8% during the third quarter. Exchange Traded Concepts LLC now owns 11,078 shares of the company’s stock valued at $822,000 after buying an additional 2,859 shares in the last quarter. nVerses Capital LLC lifted its position in shares of iRhythm Technologies by 400.0% in the third 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, Allspring Global Investments Holdings LLC boosted its stake in shares of iRhythm Technologies by 9.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 519,973 shares of the company’s stock worth $38,603,000 after acquiring an additional 44,387 shares in the last quarter.

iRhythm Technologies Trading Up 1.3 %

Shares of IRTC opened at $110.00 on Monday. The stock’s 50-day moving average price is $96.58 and its 200 day moving average price is $81.76. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $124.11. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -22.63 and a beta of 1.29.

Analyst Ratings Changes

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

Insider Activity at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 2,492 shares of the company’s 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 sale, the insider now owns 35,327 shares of the company’s stock, valued at $3,034,236.03. The trade was a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

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.