Cookson Peirce & Co. Inc. Has $2.50 Million Stake in iRhythm Technologies $IRTC

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

A number of other large investors have also made changes to their positions in IRTC. Root Financial Partners LLC bought a new stake in iRhythm Technologies in the 3rd quarter valued at $30,000. Smartleaf Asset Management LLC grew its stake in shares of iRhythm Technologies by 100.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after acquiring an additional 99 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in shares of iRhythm Technologies in the second quarter valued at approximately $39,000. Assetmark Inc. lifted its position in shares of iRhythm Technologies by 273.9% in the third quarter. Assetmark Inc. now owns 415 shares of the company’s stock worth $71,000 after purchasing an additional 304 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of iRhythm Technologies in the second quarter worth $72,000.

Insider Activity

In other news, insider Patrick Michael Murphy sold 2,478 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total value of $458,008.74. Following the completion of the transaction, the insider directly owned 53,281 shares of the company’s stock, valued at $9,847,927.23. This trade represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chad Patterson sold 280 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total transaction of $51,752.40. Following the sale, the insider directly owned 43,387 shares in the company, valued at $8,019,219.21. This trade represents a 0.64% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IRTC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $244.00 target price on shares of iRhythm Technologies in a report on Monday, January 12th. The Goldman Sachs Group raised their price objective on iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Wells Fargo & Company increased their price target on shares of iRhythm Technologies from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Freedom Capital raised shares of iRhythm Technologies to a “strong-buy” rating in a report on Thursday, January 15th. Finally, Citigroup lifted their target price on shares of iRhythm Technologies from $205.00 to $242.00 and gave the stock a “buy” rating in a research 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $219.23.

iRhythm Technologies Price Performance

iRhythm Technologies stock opened at $148.41 on Friday. iRhythm Technologies has a 52 week low of $92.52 and a 52 week high of $212.00. The company’s 50 day moving average price is $167.36 and its two-hundred day moving average price is $171.18. The stock has a market cap of $4.78 billion, a P/E ratio of -92.18 and a beta of 1.06. The company has a quick ratio of 4.50, a current ratio of 4.63 and a debt-to-equity ratio of 5.32.

About iRhythm Technologies

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.