iRhythm Technologies $IRTC Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in iRhythm Technologies (NASDAQ:IRTC) by 18.7% in the second quarter, Holdings Channel reports. The firm owned 13,223 shares of the company’s stock after selling 3,050 shares during the period. State of New Jersey Common Pension Fund D’s holdings in iRhythm Technologies were worth $2,036,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IRTC. MCF Advisors LLC acquired a new stake in shares of iRhythm Technologies in the 1st quarter worth $25,000. AlphaQuest LLC acquired a new stake in iRhythm Technologies during the 1st quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in iRhythm Technologies during the 1st quarter worth about $50,000. CWM LLC lifted its position in iRhythm Technologies by 54.3% during the 1st quarter. CWM LLC now owns 517 shares of the company’s stock worth $54,000 after acquiring an additional 182 shares during the period. Finally, US Bancorp DE lifted its position in iRhythm Technologies by 61.9% during the 1st quarter. US Bancorp DE now owns 978 shares of the company’s stock worth $102,000 after acquiring an additional 374 shares during the period.

iRhythm Technologies Stock Performance

NASDAQ IRTC opened at $185.29 on Thursday. The stock has a 50-day simple moving average of $176.31 and a two-hundred day simple moving average of $151.81. The firm has a market capitalization of $5.95 billion, a P/E ratio of -63.24 and a beta of 1.15. iRhythm Technologies has a fifty-two week low of $67.92 and a fifty-two week high of $190.86. The company has a debt-to-equity ratio of 6.25, a quick ratio of 4.88 and a current ratio of 5.02.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.21. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%.The firm had revenue of $186.69 million during the quarter, compared to analyst estimates of $173.94 million. During the same quarter in the previous year, the business earned ($0.61) EPS. iRhythm Technologies’s revenue for the quarter was up 26.1% compared to the same quarter last year. On average, equities analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insider Transactions at iRhythm Technologies

In related news, insider Chad Patterson sold 2,707 shares of iRhythm Technologies stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $164.36, for a total value of $444,922.52. Following the completion of the transaction, the insider owned 46,222 shares in the company, valued at $7,597,047.92. The trade was a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Abhijit Y. Talwalkar sold 5,312 shares of iRhythm Technologies stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $158.02, for a total value of $839,402.24. Following the completion of the transaction, the director owned 20,299 shares of the company’s stock, valued at approximately $3,207,647.98. This represents a 20.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 47,069 shares of company stock worth $7,627,986 over the last quarter. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. William Blair raised iRhythm Technologies to a “strong-buy” rating in a research report on Friday, August 1st. Truist Financial lifted their price target on iRhythm Technologies from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Evercore ISI lowered their price target on iRhythm Technologies from $185.00 to $175.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. Canaccord Genuity Group lifted their price target on iRhythm Technologies from $170.00 to $193.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, Wells Fargo & Company lifted their price target on iRhythm Technologies from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $184.85.

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.