Cookson Peirce & Co. Inc. Acquires 7,452 Shares of iRhythm Technologies $IRTC

Cookson Peirce & Co. Inc. boosted its holdings in iRhythm Technologies (NASDAQ:IRTC) by 105.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,524 shares of the company’s stock after purchasing an additional 7,452 shares during the period. Cookson Peirce & Co. Inc.’s holdings in iRhythm Technologies were worth $2,498,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of iRhythm Technologies by 2.3% in the second quarter. Geode Capital Management LLC now owns 767,336 shares of the company’s stock worth $118,154,000 after buying an additional 16,967 shares during the period. Stephens Investment Management Group LLC grew its position in iRhythm Technologies by 6.2% during the 2nd quarter. Stephens Investment Management Group LLC now owns 552,916 shares of the company’s stock worth $85,127,000 after acquiring an additional 32,334 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in iRhythm Technologies by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 433,780 shares of the company’s stock valued at $45,408,000 after purchasing an additional 108,941 shares during the last quarter. Holocene Advisors LP boosted its stake in shares of iRhythm Technologies by 2,023.1% during the second quarter. Holocene Advisors LP now owns 313,094 shares of the company’s stock valued at $48,204,000 after purchasing an additional 298,347 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of iRhythm Technologies by 6.2% in the second quarter. Jennison Associates LLC now owns 297,492 shares of the company’s stock worth $45,802,000 after purchasing an additional 17,305 shares during the last quarter.

Insider Activity

In related news, insider Patrick Michael Murphy sold 2,478 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total transaction of $458,008.74. Following the sale, the insider owned 53,281 shares of the company’s stock, valued at $9,847,927.23. The trade was a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chad Patterson sold 280 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total transaction of $51,752.40. Following the transaction, the insider directly owned 43,387 shares of the company’s stock, valued at $8,019,219.21. This represents a 0.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IRTC shares. Needham & Company LLC reiterated a “buy” rating and set a $244.00 price target on shares of iRhythm Technologies in a report on Monday, January 12th. Canaccord Genuity Group upped their price objective on shares of iRhythm Technologies from $193.00 to $212.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Thursday, January 22nd. Freedom Capital upgraded shares of iRhythm Technologies to a “strong-buy” rating in a report on Thursday, January 15th. Finally, Loop Capital set a $220.00 price objective on shares of iRhythm Technologies in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $219.23.

iRhythm Technologies Stock Performance

Shares of iRhythm Technologies stock opened at $148.41 on Friday. iRhythm Technologies has a 12 month low of $92.52 and a 12 month high of $212.00. The firm has a market capitalization of $4.78 billion, a P/E ratio of -92.18 and a beta of 1.06. The company has a current ratio of 4.63, a quick ratio of 4.50 and a debt-to-equity ratio of 5.32. The business has a fifty day simple moving average of $167.36 and a two-hundred day simple moving average of $171.18.

iRhythm Technologies Company 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.