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

New York State Common Retirement Fund trimmed its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 41.0% during the fourth quarter, Holdings Channel reports. The firm owned 127,579 shares of the company’s stock after selling 88,624 shares during the quarter. New York State Common Retirement Fund’s holdings in iRhythm Technologies were worth $11,504,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its position in shares of iRhythm Technologies by 272.0% in the 3rd 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 in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in iRhythm Technologies during the third quarter worth about $1,497,000. Eagle Asset Management Inc. lifted its holdings in shares of iRhythm Technologies by 44.9% in the third quarter. Eagle Asset Management Inc. now owns 100,655 shares of the company’s stock valued at $7,473,000 after purchasing an additional 31,193 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of 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 worth $52,501,000 after purchasing an additional 195,246 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of iRhythm Technologies by 34.3% during the 3rd quarter. Barclays PLC now owns 209,247 shares of the company’s stock worth $15,534,000 after purchasing an additional 53,498 shares in the last quarter.

iRhythm Technologies Price Performance

IRTC opened at $118.88 on Tuesday. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $128.52. The company’s 50 day simple moving average is $102.34 and its 200 day simple moving average is $84.13. The stock has a market capitalization of $3.73 billion, a PE 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 (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $164.33 million for the quarter, compared to the consensus estimate of $158.30 million. As a group, sell-side analysts expect that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

Insider Buying and Selling

In other news, insider Patrick Michael Murphy sold 2,492 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $85.89, for a total transaction of $214,037.88. Following the completion of the sale, the insider now owns 35,327 shares in the company, valued at approximately $3,034,236.03. The trade was a 6.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IRTC shares. Wells Fargo & Company increased their target price on iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a report on Friday. Truist Financial increased their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com raised shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Monday. Robert W. Baird decreased their price target on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Needham & Company LLC boosted their price objective on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, iRhythm Technologies presently has an average rating of “Moderate Buy” and an average price target of $119.73.

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.