New York State Common Retirement Fund Sells 11,998 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

New York State Common Retirement Fund lessened its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 5.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 216,203 shares of the company’s stock after selling 11,998 shares during the period. New York State Common Retirement Fund owned 0.70% of iRhythm Technologies worth $16,051,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. SeaCrest Wealth Management LLC grew its holdings in shares of iRhythm Technologies by 7.6% during the second quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock worth $229,000 after purchasing an additional 150 shares during the last quarter. Ascent Group LLC lifted its stake in shares of iRhythm Technologies by 4.6% during the first quarter. Ascent Group LLC now owns 3,980 shares of the company’s stock valued at $462,000 after acquiring an additional 175 shares during the period. Swiss National Bank lifted its stake in shares of iRhythm Technologies by 0.3% during the first quarter. Swiss National Bank now owns 60,500 shares of the company’s stock valued at $7,018,000 after acquiring an additional 200 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of iRhythm Technologies by 79.6% during the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after acquiring an additional 277 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of iRhythm Technologies by 3.4% during the second quarter. Arizona State Retirement System now owns 8,711 shares of the company’s stock valued at $938,000 after acquiring an additional 287 shares during the period.

Insider Activity

In related news, Director Abhijit Y. Talwalkar purchased 6,664 shares of iRhythm Technologies stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the acquisition, the director now directly owns 18,941 shares of the company’s stock, valued at $1,423,605.56. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Abhijit Y. Talwalkar purchased 6,664 shares of iRhythm Technologies stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the acquisition, the director now directly owns 18,941 shares of the company’s stock, valued at $1,423,605.56. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brice Bobzien sold 1,372 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the transaction, the chief financial officer now owns 24,428 shares of the company’s stock, valued at $1,718,265.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IRTC shares. Truist Financial upped their price target on iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price target on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group started coverage on iRhythm Technologies in a research note on Friday, October 4th. They set a “neutral” rating and a $78.00 price target on the stock. Oppenheimer cut their price target on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Morgan Stanley cut their target price on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.50.

iRhythm Technologies Stock Up 6.4 %

Shares of NASDAQ IRTC opened at $86.68 on Wednesday. The stock has a market cap of $2.71 billion, a P/E ratio of -17.84 and a beta of 1.23. The firm has a 50 day moving average price of $69.85 and a 200 day moving average price of $84.46. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies, Inc. has a 52-week low of $55.92 and a 52-week high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The company had revenue of $147.54 million during the quarter, compared to analyst estimates of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.89) EPS. Analysts expect that iRhythm Technologies, Inc. will post -3.07 EPS for the current year.

iRhythm Technologies 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.