iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its position in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 32.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,414 shares of the company's stock after buying an additional 6,975 shares during the period. State of New Jersey Common Pension Fund D owned about 0.09% of iRhythm Technologies worth $2,109,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Headlands Technologies LLC lifted its stake in shares of iRhythm Technologies by 10,650.0% in the first quarter. Headlands Technologies LLC now owns 430 shares of the company's stock worth $50,000 after buying an additional 426 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of iRhythm Technologies by 79.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company's stock worth $67,000 after purchasing an additional 277 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of iRhythm Technologies in the first quarter valued at approximately $126,000. Russell Investments Group Ltd. increased its holdings in shares of iRhythm Technologies by 79,700.0% in the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company's stock valued at $185,000 after purchasing an additional 1,594 shares during the last quarter. Finally, nVerses Capital LLC lifted its position in iRhythm Technologies by 400.0% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock worth $148,000 after buying an additional 1,600 shares in the last quarter.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 16,145 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $77.41, for a total value of $1,249,784.45. Following the completion of the transaction, the chief executive officer now owns 159,929 shares in the company, valued at $12,380,103.89. This represents a 9.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Abhijit Y. Talwalkar purchased 6,664 shares of the business's 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 transaction, the director now owns 18,941 shares of the company's stock, valued at $1,423,605.56. This trade represents a 54.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by corporate insiders.

iRhythm Technologies Trading Down 3.2 %

IRTC traded down $2.68 during mid-day trading on Friday, hitting $80.76. 222,466 shares of the stock were exchanged, compared to its average volume of 473,102. 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 company has a market cap of $2.53 billion, a PE ratio of -17.07 and a beta of 1.23. The firm's fifty day moving average is $72.38 and its two-hundred day moving average is $83.58. 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 posted its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.71). iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The company had revenue of $147.54 million during the quarter, compared to analyst estimates of $146.69 million. During the same period in the prior year, the business earned ($0.89) EPS. iRhythm Technologies's revenue for the quarter was up 18.4% on a year-over-year basis. Equities analysts forecast that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IRTC shares. JPMorgan Chase & Co. dropped their target price on iRhythm Technologies from $133.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. Oppenheimer cut their price objective on shares of iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. Truist Financial boosted their target price 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. Citigroup cut their price target 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. Finally, The Goldman Sachs Group began coverage on iRhythm Technologies in a report on Friday, October 4th. They issued a "neutral" rating and a $78.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $108.50.

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.