Artisan Partners Discloses 13.5% Passive Stake in iRhythm Technologies

TL;DR

**Artisan Partners just revealed a 13.5% stake in iRhythm, signaling a big institutional vote of confidence.**

AI Summary

Artisan Partners Limited Partnership, a Milwaukee-based investment firm, reported on February 12, 2024, that as of December 31, 2023, they beneficially own 3,927,337 shares of iRhythm Technologies, Inc. (IRTC) Common Stock. This represents 13.5% of iRhythm's outstanding shares, a significant passive stake. This matters to investors because a large institutional holding by a reputable firm like Artisan Partners can signal confidence in the company's future prospects and potentially influence other investors.

Why It Matters

A major institutional investor like Artisan Partners taking a significant stake can be seen as a vote of confidence, potentially attracting more investment and stabilizing the stock price.

Risk Assessment

Risk Level: low — This filing indicates a passive investment by a large institution, which generally reduces volatility and signals stability rather than immediate risk.

Analyst Insight

A smart investor would view this as a positive signal, potentially researching iRhythm Technologies further to understand why a major firm like Artisan Partners has taken such a significant stake, and consider adding it to their watchlist or portfolio.

Key Numbers

• 3,927,337 — Shares Beneficially Owned (Represents the total number of iRhythm Technologies shares Artisan Partners holds.)
• 13.5% — Percentage of Class (Indicates the significant portion of iRhythm Technologies' common stock owned by Artisan Partners.)

Key Players & Entities

• Artisan Partners Limited Partnership (company) — filer and beneficial owner of shares
• iRhythm Technologies, Inc. (company) — subject company whose shares are being reported
• 3,927,337 (dollar_amount) — number of shares beneficially owned by Artisan Partners
• 13.5% (dollar_amount) — percentage of iRhythm Technologies' class of securities beneficially owned
• December 31, 2023 (person) — date of event requiring the filing

Forward-Looking Statements

• Other institutional investors may increase their positions in iRhythm Technologies, Inc. (iRhythm Technologies, Inc.) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• d758132dsc13g.htm (SC 13G) — 77KB
• d758132dex991.htm (EX-99.1) — 4KB
• g758132g0206022206131.jpg (GRAPHIC) — 3KB
• g758132g0206022206293.jpg (GRAPHIC) — 4KB
• 0001193125-24-030952.txt ( ) — 94KB

From the Filing

SC 13G 1 d758132dsc13g.htm SC 13G SC 13G SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G (Rule 13d-102) Information to be Included in Statements Filed Pursuant to Rule 13d-1(b), (c) and (d) and Amendments Thereto Filed Pursuant to Rule 13d-2. Under the Securities Exchange Act of 1934 (Amendment No. )* iRhythm Technologies Inc (Name of Issuer) Common Stock (Title of Class of Securities) 450056106 (CUSIP Number) 12/31/2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 450056106 13G 1 NAME OF REPORTING PERSON Artisan Partners Limited Partnership 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a)(b) Not Applicable 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER None 6 SHARED VOTING POWER 1,812,552 7 SOLE DISPOSITIVE POWER None 8 SHARED DISPOSITIVE POWER 2,071,500 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,071,500 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) Not Applicable 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.8% 12 TYPE OF REPORTING PERSON (see Instructions) IA CUSIP No. 450056106 13G 1 NAME OF REPORTING PERSON Artisan Investments GP LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a)(b) Not Applicable 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER None 6 SHARED VOTING POWER 1,812,552 7 SOLE DISPOSITIVE POWER None 8 SHARED DISPOSITIVE POWER 2,071,500 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,071,500 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) Not Applicable 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.8% 12 TYPE OF REPORTING PERSON (see Instructions) HC CUSIP No. 450056106 13G 1 NAME OF REPORTING PERSON Artisan Partners Holdings LP 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a)(b) Not Applicable 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER None 6 SHARED VOTING POWER 1,812,552 7 SOLE DISPOSITIVE POWER None 8 SHARED DISPOSITIVE POWER 2,071,500 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,071,500 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) Not Applicable 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.8% 12 TYPE OF REPORTING PERSON (see Instructions) HC CUSIP No. 450056106 13G 1 NAME OF REPORTING PERSON Artisan Partners Asset Management Inc. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see Instructions) (a)(b) Not Applicable 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER None 6 SHARED VOTING POWER 1,812,552 7 SOLE DISPOSITIVE POWER None 8 SHARED DISPOSITIVE POWER 2,071,500 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,071,500 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions) Not Applicable 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.8% 12 TYPE OF REPORTING PERSON (see Instructions) HC Item1(a) Name of Issuer: iRhythm Technologies Inc Item1(b) Address of Issuers Principal Executive Offices: 699 8th Street Suite 600, San Francisco, California 94103 Item2(a) Name of Person Filing: Artisan Partners Limited Partnership (APLP) Artisan Investments GP LLC (Artisan Investments) Artisan Partners Holdings LP (Artisan Holdings) Artisan Partners Asset Management Inc. (APAM) Item2(b) Address of Principal Business Office: APLP, Artisan Investments, Artisan Holdings, and APAM are all located at: 875 East Wisconsin Avenue, Suite 800 Milwaukee, WI 53202 Item2(c) Citizenship: AP

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View this SC 13G filing on SEC EDGAR