Axa S.A. Increases Stake in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Posted by Defense World Staff on Feb 26th, 2023

Axa S.A. grew its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) by 4.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 32,765 shares of the company’s stock after buying an additional 1,258 shares during the quarter. Axa S.A. owned 0.11% of iRhythm Technologies worth $4,105,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp purchased a new position in shares of iRhythm Technologies in the 3rd quarter valued at about $49,000. Focused Wealth Management Inc purchased a new stake in iRhythm Technologies during the third quarter worth approximately $50,000. Point72 Hong Kong Ltd purchased a new stake in iRhythm Technologies during the second quarter worth approximately $85,000. Captrust Financial Advisors lifted its stake in iRhythm Technologies by 92.0% during the second quarter. Captrust Financial Advisors now owns 935 shares of the company’s stock worth $101,000 after purchasing an additional 448 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in iRhythm Technologies by 9.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,126 shares of the company’s stock worth $122,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IRTC shares. Truist Financial decreased their target price on iRhythm Technologies from $167.00 to $153.00 and set a “buy” rating for the company in a research note on Tuesday, December 20th. StockNews.com lowered iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday. Oppenheimer cut their price target on iRhythm Technologies from $175.00 to $166.00 in a research report on Wednesday, November 2nd. Canaccord Genuity Group cut their price target on iRhythm Technologies from $198.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, November 2nd. Finally, Wells Fargo & Company initiated coverage on iRhythm Technologies in a research report on Tuesday, February 7th. They set an “overweight” rating and a $150.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.36.

iRhythm Technologies Trading Up 8.3 %

NASDAQ:IRTC opened at $116.66 on Friday. The firm has a market cap of $3.51 billion, a P/E ratio of -29.99 and a beta of 1.43. The company has a current ratio of 3.42, a quick ratio of 3.25 and a debt-to-equity ratio of 0.15. The stock’s 50 day simple moving average is $100.78 and its 200-day simple moving average is $116.92. iRhythm Technologies, Inc. has a 12-month low of $85.74 and a 12-month high of $169.54.

iRhythm Technologies Profile

(Get Rating)

iRhythm Technologies, Inc engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It offers Zio XT, is a wearable patch-based biosensor, which continuously records and stores ECG data from every patient heartbeat for up to 14 consecutive days, and Zio AT, which provides ECG data but also provides physicians with actionable notifications during the wear period.