Citigroup Inc. Decreases Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Citigroup Inc. reduced its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,661 shares of the company's stock after selling 6,247 shares during the period. Citigroup Inc. owned 0.64% of iRhythm Technologies worth $14,823,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IRTC. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in iRhythm Technologies by 38.1% during 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 acquiring an additional 195,246 shares during the period. Mackenzie Financial Corp raised its holdings in iRhythm Technologies by 5.9% in the second quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company's stock worth $153,745,000 after buying an additional 80,091 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in iRhythm Technologies by 14.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 475,586 shares of the company's stock worth $51,192,000 after buying an additional 60,560 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in iRhythm Technologies by 12.3% in the second quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company's stock worth $57,717,000 after buying an additional 58,668 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in iRhythm Technologies by 272.0% in the third quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company's stock worth $5,935,000 after buying an additional 58,448 shares during the last quarter.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 16,145 shares of iRhythm Technologies stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the transaction, the chief executive officer now owns 159,929 shares of the company's stock, valued at $12,380,103.89. The trade was a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Abhijit Y. Talwalkar purchased 6,664 shares of the stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $75.16 per share, for a total transaction of $500,866.24. Following the acquisition, the director now directly owns 18,941 shares of the company's stock, valued at approximately $1,423,605.56. This represents a 54.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.68% of the company's stock.

iRhythm Technologies Stock Performance

NASDAQ IRTC traded up $6.57 during trading hours on Thursday, hitting $89.02. 555,695 shares of the company's stock traded hands, compared to its average volume of 475,249. The business's fifty day moving average price is $73.83 and its two-hundred day moving average price is $81.79. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm has a market capitalization of $2.79 billion, a P/E ratio of -18.32 and a beta of 1.23. iRhythm Technologies, Inc. has a 52 week low of $55.92 and a 52 week high of $124.11.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The business had revenue of $147.54 million for the quarter, compared to the consensus estimate of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The business's quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.89) earnings per share. Equities research analysts predict that iRhythm Technologies, Inc. will post -3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on IRTC shares. Truist Financial lifted their target price on shares of iRhythm Technologies from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Citigroup decreased their target price on shares of iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $122.00 to $137.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. The Goldman Sachs Group initiated coverage on shares of iRhythm Technologies in a research note on Friday, October 4th. They issued a "neutral" rating and a $78.00 price target for the company. Finally, Oppenheimer reduced their price target on shares of iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, iRhythm Technologies has an average rating of "Moderate Buy" and an average target price of $108.50.

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.