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

New York State Common Retirement Fund cut its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 5.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IRTC. SteelPeak Wealth LLC purchased a new position in shares of iRhythm Technologies during the 3rd quarter valued at approximately $592,000. Values First Advisors Inc. purchased a new position in iRhythm Technologies during the third quarter valued at $380,000. Hennion & Walsh Asset Management Inc. grew its position in shares of iRhythm Technologies by 27.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,512 shares of the company's stock valued at $261,000 after purchasing an additional 754 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of iRhythm Technologies by 22.3% during the third quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company's stock worth $231,000 after purchasing an additional 567 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of iRhythm Technologies by 9.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 519,973 shares of the company's stock worth $38,603,000 after purchasing an additional 44,387 shares during the last quarter.

Insider Activity

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In other iRhythm Technologies news, CEO Quentin S. Blackford sold 16,145 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the sale, the chief executive officer now owns 159,929 shares in the company, valued at $12,380,103.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of 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. Insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Oppenheimer cut their price objective on iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Truist Financial increased their price objective on shares of iRhythm Technologies from $80.00 to $95.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Morgan Stanley dropped their price target on iRhythm Technologies from $135.00 to $130.00 and set an "overweight" rating for the company in a research report on Monday, July 15th. The Goldman Sachs Group began coverage on iRhythm Technologies in a research report on Friday, October 4th. They set a "neutral" rating and a $78.00 price objective on the stock. Finally, StockNews.com cut iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $108.50.

iRhythm Technologies Trading Up 3.3 %

NASDAQ IRTC traded up $2.82 during trading hours on Wednesday, reaching $89.50. The company had a trading volume of 739,233 shares, compared to its average volume of 476,771. 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 stock has a market capitalization of $2.80 billion, a P/E ratio of -18.42 and a beta of 1.23. The stock has a 50-day moving average of $70.27 and a 200 day moving average of $84.49. iRhythm Technologies, Inc. has a 1-year low of $55.92 and a 1-year high of $124.11.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.71). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The company had revenue of $147.54 million during the quarter, compared to analyst estimates of $146.69 million. During the same quarter in the prior year, the company posted ($0.89) earnings per share. The business's revenue was up 18.4% compared to the same quarter last year. As a group, research analysts anticipate that iRhythm Technologies, Inc. will post -3.07 earnings per share for the current fiscal year.

About iRhythm Technologies

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.