iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 25.8% during the 4th quarter, Holdings Channel reports. The firm owned 29,300 shares of the company’s stock after buying an additional 6,012 shares during the period. State of New Jersey Common Pension Fund D’s holdings in iRhythm Technologies were worth $3,136,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Artisan Partners Limited Partnership raised its holdings in iRhythm Technologies by 22.5% in the third quarter. Artisan Partners Limited Partnership now owns 1,962,625 shares of the company’s stock valued at $184,997,000 after acquiring an additional 359,908 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in iRhythm Technologies by 67.7% in the third quarter. Bank of New York Mellon Corp now owns 572,358 shares of the company’s stock worth $53,950,000 after acquiring an additional 231,077 shares during the last quarter. Wellington Management Group LLP purchased a new position in iRhythm Technologies in the third quarter worth approximately $20,659,000. Braidwell LP lifted its stake in iRhythm Technologies by 18.7% in the third quarter. Braidwell LP now owns 568,157 shares of the company’s stock worth $53,554,000 after acquiring an additional 89,600 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in iRhythm Technologies by 6.6% in the third quarter. Blair William & Co. IL now owns 1,111,417 shares of the company’s stock worth $104,762,000 after acquiring an additional 68,983 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Needham & Company LLC lifted their price target on shares of iRhythm Technologies from $136.00 to $137.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. decreased their price target on shares of 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, Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $121.00 to $133.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.11.

Insider Activity

In other news, CEO Quentin S. Blackford sold 24,701 shares of iRhythm Technologies stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $3,012,533.96. Following the transaction, the chief executive officer now directly owns 180,015 shares of the company’s stock, valued at approximately $21,954,629.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Daniel G. Wilson sold 1,261 shares of iRhythm Technologies stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $153,791.56. Following the transaction, the executive vice president now directly owns 32,967 shares of the company’s stock, valued at approximately $4,020,655.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Quentin S. Blackford sold 24,701 shares of iRhythm Technologies stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $3,012,533.96. Following the completion of the transaction, the chief executive officer now directly owns 180,015 shares in the company, valued at $21,954,629.40. The disclosure for this sale can be found here. Insiders have sold 35,052 shares of company stock valued at $4,274,942 in the last ninety days. 0.68% of the stock is currently owned by company insiders.

iRhythm Technologies Stock Up 0.6 %

Shares of NASDAQ:IRTC opened at $111.91 on Friday. The company has a market capitalization of $3.48 billion, a PE ratio of -27.63 and a beta of 1.30. The company has a current ratio of 2.15, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. iRhythm Technologies, Inc. has a twelve month low of $70.24 and a twelve month high of $135.80. The firm has a 50 day simple moving average of $111.28 and a 200-day simple moving average of $102.31.

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

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.