Goldman Sachs Group Inc. Sells 122,635 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Goldman Sachs Group Inc. decreased its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 43.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,728 shares of the company’s stock after selling 122,635 shares during the period. Goldman Sachs Group Inc. owned approximately 0.52% of iRhythm Technologies worth $17,204,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IRTC. Artisan Partners Limited Partnership raised its holdings in iRhythm Technologies by 5.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,071,500 shares of the company’s stock worth $221,733,000 after acquiring an additional 108,875 shares during the last quarter. Capital Research Global Investors raised its position in iRhythm Technologies by 5.1% in the 4th quarter. Capital Research Global Investors now owns 2,495,626 shares of the company’s stock worth $267,132,000 after buying an additional 121,709 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake in iRhythm Technologies by 17.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 359,225 shares of the company’s stock valued at $38,451,000 after acquiring an additional 53,219 shares during the period. Norges Bank purchased a new stake in shares of iRhythm Technologies during the 4th quarter valued at about $26,522,000. Finally, First Light Asset Management LLC grew its stake in shares of iRhythm Technologies by 72.7% in the fourth quarter. First Light Asset Management LLC now owns 152,063 shares of the company’s stock worth $16,277,000 after acquiring an additional 64,024 shares during the period.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group dropped their price target on iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Wolfe Research upgraded shares of iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research note on Thursday, June 20th. Finally, Needham & Company LLC boosted their target price on shares of iRhythm Technologies from $137.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat.com, iRhythm Technologies has an average rating of “Moderate Buy” and an average price target of $131.22.

iRhythm Technologies Stock Performance

NASDAQ IRTC opened at $104.38 on Friday. The company has a market cap of $3.25 billion, a P/E ratio of -24.68 and a beta of 1.24. The business’s 50 day moving average price is $99.19 and its 200-day moving average price is $106.73. iRhythm Technologies, Inc. has a fifty-two week low of $70.24 and a fifty-two week high of $124.11. The company has a debt-to-equity ratio of 7.13, a quick ratio of 6.95 and a current ratio of 7.10.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, May 2nd. The company reported ($1.47) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.48). iRhythm Technologies had a negative net margin of 25.33% and a negative return on equity of 69.87%. The firm had revenue of $131.93 million during the quarter, compared to analysts’ expectations of $128.87 million. Sell-side analysts predict that iRhythm Technologies, Inc. will post -3.22 earnings per share for the current year.

Insider Buying and Selling at iRhythm Technologies

In other news, CAO Marc W. Rosenbaum sold 510 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $88.91, for a total value of $45,344.10. Following the sale, the chief accounting officer now directly owns 8,174 shares in the company, valued at $726,750.34. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Marc W. Rosenbaum sold 510 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $88.91, for a total value of $45,344.10. Following the transaction, the chief accounting officer now directly owns 8,174 shares in the company, valued at $726,750.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sumi Shrishrimal sold 1,131 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $88.91, for a total transaction of $100,557.21. Following the completion of the transaction, the executive vice president now owns 23,298 shares in the company, valued at $2,071,425.18. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

iRhythm Technologies Company Profile

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.