iRhythm Technologies (NASDAQ:IRTC) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) by 26.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,886 shares of the company's stock after acquiring an additional 33,307 shares during the period. New York State Common Retirement Fund owned about 0.50% of iRhythm Technologies worth $16,842,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bank Pictet & Cie Europe AG lifted its holdings in iRhythm Technologies by 5.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock worth $297,000 after acquiring an additional 184 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in iRhythm Technologies by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 259,494 shares of the company's stock worth $23,399,000 after acquiring an additional 3,791 shares during the last quarter. Raymond James Financial Inc. bought a new position in iRhythm Technologies in the fourth quarter worth about $9,151,000. PNC Financial Services Group Inc. lifted its holdings in iRhythm Technologies by 32.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,980 shares of the company's stock worth $449,000 after acquiring an additional 1,215 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of iRhythm Technologies by 15.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,198 shares of the company's stock valued at $739,000 after buying an additional 1,068 shares during the last quarter.

Wall Street Analysts Forecast Growth

IRTC has been the topic of several recent analyst reports. Citigroup boosted their target price on iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Wall Street Zen lowered shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Canaccord Genuity Group lowered their price target on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Robert W. Baird boosted their price target on shares of iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company upgraded shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $104.00 to $130.00 in a report on Friday, May 2nd. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $137.30.

Insider Transactions at iRhythm Technologies

In related news, CFO Daniel G. Wilson sold 3,000 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $150.00, for a total value of $450,000.00. Following the completion of the transaction, the chief financial officer directly owned 40,307 shares of the company's stock, valued at approximately $6,046,050. This trade represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chad Patterson sold 936 shares of iRhythm Technologies stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $150.00, for a total value of $140,400.00. Following the sale, the insider owned 48,929 shares of the company's stock, valued at approximately $7,339,350. This trade represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,356 shares of company stock worth $796,882 in the last quarter. Company insiders own 1.10% of the company's stock.

iRhythm Technologies Price Performance

iRhythm Technologies stock traded up $0.48 during mid-day trading on Friday, hitting $136.24. 433,891 shares of the company traded hands, compared to its average volume of 492,646. iRhythm Technologies has a one year low of $55.92 and a one year high of $157.13. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of -43.39 and a beta of 1.41. The company has a debt-to-equity ratio of 7.47, a quick ratio of 5.58 and a current ratio of 5.71. The stock has a fifty day moving average price of $143.06 and a 200-day moving average price of $119.47.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). iRhythm Technologies had a negative return on equity of 101.04% and a negative net margin of 15.90%. The business had revenue of $158.68 million during the quarter, compared to the consensus estimate of $153.39 million. During the same quarter in the previous year, the firm posted ($1.23) earnings per share. The company's revenue was up 20.3% compared to the same quarter last year. On average, equities analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

iRhythm Technologies 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.