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

State of New Jersey Common Pension Fund D increased its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 32.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 28,414 shares of the company’s stock after purchasing an additional 6,975 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in iRhythm Technologies were worth $2,109,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IRTC. SG Americas Securities LLC purchased a new stake in shares of iRhythm Technologies during the first quarter valued at approximately $126,000. Swiss National Bank grew its holdings in iRhythm Technologies by 0.3% during the 1st quarter. Swiss National Bank now owns 60,500 shares of the company’s stock valued at $7,018,000 after purchasing an additional 200 shares in the last quarter. Headlands Technologies LLC increased its stake in iRhythm Technologies by 10,650.0% during the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock worth $50,000 after buying an additional 426 shares during the period. Russell Investments Group Ltd. lifted its holdings in iRhythm Technologies by 79,700.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock worth $185,000 after buying an additional 1,594 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in iRhythm Technologies by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 5,514 shares of the company’s stock valued at $640,000 after buying an additional 433 shares during the last quarter.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC opened at $83.44 on Friday. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The firm has a 50-day simple moving average of $72.02 and a 200 day simple moving average of $83.58. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $124.11. The company has a market cap of $2.61 billion, a PE ratio of -17.17 and a beta of 1.23.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $146.69 million. During the same quarter in the previous year, the company posted ($0.89) earnings per share. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, sell-side analysts anticipate that iRhythm Technologies, Inc. will post -3.44 EPS for the current year.

Insider Buying and Selling at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar purchased 6,664 shares of the company’s stock in a transaction on Monday, November 4th. The shares were bought at an average price of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Quentin S. Blackford sold 16,145 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $77.41, for a total value of $1,249,784.45. Following the transaction, the chief executive officer now owns 159,929 shares of the company’s stock, valued at approximately $12,380,103.89. This represents a 9.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IRTC has been the topic of several recent analyst reports. Robert W. Baird cut their price target on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC reduced their target price on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Citigroup reduced their price objective on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and a consensus price target 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.