iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 41.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,579 shares of the company’s stock after selling 88,624 shares during the period. New York State Common Retirement Fund owned 0.41% of iRhythm Technologies worth $11,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in IRTC. Eventide Asset Management LLC lifted its stake in iRhythm Technologies by 170.8% during the third quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock worth $54,694,000 after purchasing an additional 464,629 shares during the last quarter. Braidwell LP raised its holdings in iRhythm Technologies by 48.7% during the third quarter. Braidwell LP now owns 782,557 shares of the company’s stock worth $58,097,000 after purchasing an additional 256,200 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of iRhythm Technologies by 38.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock valued at $52,501,000 after buying an additional 195,246 shares in the last quarter. Stephens Investment Management Group LLC grew its position in shares of iRhythm Technologies by 25.6% in the 4th quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company’s stock valued at $45,349,000 after buying an additional 102,600 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in iRhythm Technologies by 24.4% during the 3rd quarter. Fred Alger Management LLC now owns 314,117 shares of the company’s stock worth $23,320,000 after acquiring an additional 61,696 shares in the last quarter.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $118.88 on Tuesday. The stock has a market capitalization of $3.73 billion, a P/E ratio of -32.66 and a beta of 1.29. 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 1 year low of $55.92 and a 1 year high of $128.52. The company’s fifty day moving average is $102.34 and its two-hundred day moving average is $84.13.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.30. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The firm had revenue of $164.33 million during the quarter, compared to analysts’ expectations of $158.30 million. On average, sell-side analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Insider Activity

In other news, insider Patrick Michael Murphy sold 2,492 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the transaction, the insider now owns 35,327 shares in the company, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Monday. Oppenheimer raised their price target on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Robert W. Baird cut their price target on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Truist Financial increased their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a report on Friday. Finally, Canaccord Genuity Group lifted their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.73.

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.