New York State Common Retirement Fund Reduces Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

New York State Common Retirement Fund lowered its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 41.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 about 0.41% of iRhythm Technologies worth $11,504,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Peregrine Capital Management LLC increased its holdings in iRhythm Technologies by 1.1% during the fourth quarter. Peregrine Capital Management LLC now owns 99,153 shares of the company's stock worth $8,941,000 after buying an additional 1,110 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of iRhythm Technologies by 5.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock valued at $297,000 after acquiring an additional 184 shares during the period. Banque Pictet & Cie SA increased its stake in shares of iRhythm Technologies by 12.7% during the 4th quarter. Banque Pictet & Cie SA now owns 59,264 shares of the company's stock worth $5,344,000 after purchasing an additional 6,696 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of iRhythm Technologies by 41.3% in the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after purchasing an additional 162 shares during the period. Finally, Values First Advisors Inc. raised its holdings in shares of iRhythm Technologies by 9.1% in the 4th quarter. Values First Advisors Inc. now owns 5,588 shares of the company's stock worth $504,000 after purchasing an additional 467 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IRTC. StockNews.com upgraded shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research report on Monday. Robert W. Baird cut their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Oppenheimer boosted their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 8th. Wells Fargo & Company raised their price target on iRhythm Technologies from $86.00 to $104.00 and gave the stock an "equal weight" rating in a report on Friday, February 21st. Finally, Needham & Company LLC boosted their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $119.73.

Insider Activity at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 2,492 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total transaction of $214,037.88. Following the transaction, the insider now directly owns 35,327 shares in the company, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is owned by insiders.

iRhythm Technologies Price Performance

iRhythm Technologies stock traded up $3.59 during mid-day trading on Friday, hitting $110.16. 538,953 shares of the company traded hands, compared to its average volume of 467,809. 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 one year low of $55.92 and a one year high of $128.52. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -30.26 and a beta of 1.29. The stock has a fifty day moving average price of $103.64 and a 200-day moving average price of $84.76.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued 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. The firm had revenue of $164.33 million during the quarter, compared to analyst estimates of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. On average, equities analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

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.