Nisa Investment Advisors LLC Reduces Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Nisa Investment Advisors LLC reduced its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 44.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 320 shares of the company’s stock after selling 254 shares during the period. Nisa Investment Advisors LLC’s holdings in iRhythm Technologies were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IRTC. Handelsbanken Fonder AB increased its stake in shares of iRhythm Technologies by 13.9% in the third quarter. Handelsbanken Fonder AB now owns 6,039 shares of the company’s stock worth $569,000 after buying an additional 739 shares during the period. Peregrine Capital Management LLC raised its stake in shares of iRhythm Technologies by 4.3% during the third quarter. Peregrine Capital Management LLC now owns 81,528 shares of the company’s stock valued at $7,685,000 after acquiring an additional 3,357 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of iRhythm Technologies by 67.7% during the third quarter. Bank of New York Mellon Corp now owns 572,358 shares of the company’s stock worth $53,950,000 after purchasing an additional 231,077 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of iRhythm Technologies by 11.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,314 shares of the company’s stock worth $595,000 after purchasing an additional 652 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of iRhythm Technologies by 3.4% in the third quarter. Mackenzie Financial Corp now owns 1,262,179 shares of the company’s stock worth $111,425,000 after purchasing an additional 41,052 shares during the last quarter.

iRhythm Technologies Stock Up 1.4 %

NASDAQ:IRTC opened at $113.62 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.15 and a quick ratio of 2.02. The firm’s 50-day moving average price is $111.34 and its 200-day moving average price is $101.61. The company has a market capitalization of $3.54 billion, a PE ratio of -28.05 and a beta of 1.31. iRhythm Technologies, Inc. has a 1-year low of $70.24 and a 1-year high of $140.00.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.66). iRhythm Technologies had a negative return on equity of 56.38% and a negative net margin of 25.05%. The business had revenue of $132.51 million during the quarter, compared to analysts’ expectations of $131.14 million. On average, equities analysts predict that iRhythm Technologies, Inc. will post -3.14 EPS for the current fiscal year.

Insider Activity at iRhythm Technologies

In other news, insider Patrick Michael Murphy sold 7,615 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $928,725.40. Following the sale, the insider now directly owns 48,962 shares of the company’s stock, valued at $5,971,405.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Patrick Michael Murphy sold 7,615 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $928,725.40. Following the transaction, the insider now owns 48,962 shares in the company, valued at $5,971,405.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Daniel G. Wilson sold 1,261 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $153,791.56. Following the sale, the executive vice president now directly owns 32,967 shares of the company’s stock, valued at approximately $4,020,655.32. The disclosure for this sale can be found here. Insiders sold a total of 35,052 shares of company stock valued at $4,274,942 in the last 90 days. Corporate insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

IRTC has been the subject of several research analyst reports. Canaccord Genuity Group increased their price objective on iRhythm Technologies from $121.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. dropped their price target on iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Finally, Needham & Company LLC boosted their price objective on shares of iRhythm Technologies from $136.00 to $137.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat.com, iRhythm Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $135.11.

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.