Teacher Retirement System of Texas Makes New Investment in iRhythm Technologies (NASDAQ:IRTC)

Teacher Retirement System of Texas purchased a new stake in iRhythm Technologies (NASDAQ:IRTC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,575 shares of the company's stock, valued at approximately $479,000.

A number of other institutional investors have also recently modified their holdings of IRTC. Raiffeisen Bank International AG purchased a new stake in shares of iRhythm Technologies in the 4th quarter worth about $60,000. Avanza Fonder AB acquired a new stake in iRhythm Technologies during the 1st quarter valued at $123,000. SeaCrest Wealth Management LLC purchased a new position in iRhythm Technologies during the first quarter worth $212,000. Xponance Inc. acquired a new position in shares of iRhythm Technologies in the fourth quarter worth $203,000. Finally, LPL Financial LLC purchased a new stake in shares of iRhythm Technologies in the fourth quarter valued at $243,000.

iRhythm Technologies Stock Up 2.3%

Shares of NASDAQ:IRTC opened at $137.00 on Thursday. The firm has a market cap of $4.37 billion, a PE ratio of -43.63 and a beta of 1.41. The company has a fifty day simple moving average of $143.11 and a 200 day simple moving average of $118.61. The company has a current ratio of 5.71, a quick ratio of 5.58 and a debt-to-equity ratio of 7.47. iRhythm Technologies has a 12-month low of $55.92 and a 12-month high of $157.13.

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 (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The firm had revenue of $158.68 million for 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 company's quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.23) EPS. On average, equities research analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IRTC has been the subject of several analyst reports. Wells Fargo & Company raised shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $104.00 to $130.00 in a research note on Friday, May 2nd. Morgan Stanley decreased their price target on iRhythm Technologies from $160.00 to $147.00 and set an "overweight" rating on the stock in a research note on Tuesday. Wall Street Zen lowered shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Canaccord Genuity Group lowered their target price on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Citigroup lifted their price target on shares of iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $137.30.

Insider Buying and Selling

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

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.

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