New York State Common Retirement Fund Has $16.84 Million Stock Holdings in iRhythm Technologies (NASDAQ:IRTC)

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in iRhythm Technologies by 30,928.6% during the first quarter. GAMMA Investing LLC now owns 8,688 shares of the company's stock valued at $909,000 after buying an additional 8,660 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of iRhythm Technologies by 1,793.7% in the first quarter. Principal Financial Group Inc. now owns 50,449 shares of the company's stock worth $5,281,000 after buying an additional 47,785 shares during the period. SG Americas Securities LLC grew its holdings in shares of iRhythm Technologies by 95.6% during the first quarter. SG Americas Securities LLC now owns 8,427 shares of the company's stock valued at $882,000 after buying an additional 4,119 shares in the last quarter. Invesco Ltd. raised its position in iRhythm Technologies by 1.1% during the fourth quarter. Invesco Ltd. now owns 19,200 shares of the company's stock valued at $1,731,000 after buying an additional 207 shares during the period. Finally, SeaCrest Wealth Management LLC acquired a new stake in iRhythm Technologies during the 1st quarter worth about $212,000.

iRhythm Technologies Price Performance

IRTC stock traded up $0.48 during trading on Friday, hitting $136.24. 433,891 shares of the stock traded hands, compared to its average volume of 492,646. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of -43.39 and a beta of 1.41. iRhythm Technologies has a one year low of $55.92 and a one year high of $157.13. The company has a current ratio of 5.71, a quick ratio of 5.58 and a debt-to-equity ratio of 7.47. The company has a 50 day simple moving average of $143.06 and a 200 day simple moving average of $119.47.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its earnings results 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). The business had revenue of $158.68 million during the quarter, compared to analyst estimates of $153.39 million. iRhythm Technologies had a negative net margin of 15.90% and a negative return on equity of 101.04%. The business's quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter last year, the business posted ($1.23) earnings per share. Equities analysts expect that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Analyst Ratings Changes

IRTC has been the subject of a number of research reports. Canaccord Genuity Group decreased their target price on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Needham & Company LLC upped their price target on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wells Fargo & Company raised iRhythm Technologies from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $104.00 to $130.00 in a research report on Friday, May 2nd. Wall Street Zen lowered shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Finally, Morgan Stanley cut their target price on iRhythm Technologies from $160.00 to $147.00 and set an "overweight" rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, iRhythm Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $137.30.

Insiders Place Their Bets

In other news, CFO Daniel G. Wilson sold 3,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $150.00, for a total transaction of $450,000.00. Following the sale, the chief financial officer directly owned 40,307 shares of the company's stock, valued at $6,046,050. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Minang Turakhia sold 1,420 shares of iRhythm Technologies stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $145.41, for a total value of $206,482.20. Following the completion of the sale, the executive vice president directly owned 41,393 shares of the company's stock, valued at $6,018,956.13. This trade represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,356 shares of company stock valued at $796,882. Insiders own 1.10% of the company's stock.

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.