State of New Jersey Common Pension Fund D Trims Stock Position in iRhythm Technologies, Inc. (NASDAQ:IRTC)

State of New Jersey Common Pension Fund D cut its stake in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,815 shares of the company’s stock after selling 599 shares during the period. State of New Jersey Common Pension Fund D owned about 0.09% of iRhythm Technologies worth $2,508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after acquiring an additional 162 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position 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 valued at $297,000 after acquiring an additional 184 shares during the last quarter. KBC Group NV lifted its position in iRhythm Technologies by 45.1% in the fourth quarter. KBC Group NV now owns 1,319 shares of the company’s stock valued at $119,000 after acquiring an additional 410 shares during the last quarter. Values First Advisors Inc. lifted its position in iRhythm Technologies by 9.1% in the fourth quarter. Values First Advisors Inc. now owns 5,588 shares of the company’s stock valued at $504,000 after acquiring an additional 467 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in iRhythm Technologies in the fourth quarter valued at $45,000.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Robert W. Baird reduced their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Oppenheimer upped their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $86.00 target price on shares of iRhythm Technologies in a report on Tuesday, December 3rd. Truist Financial upped their target price on shares of iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Needham & Company LLC upped their target price on shares of iRhythm Technologies from $96.00 to $112.00 and gave the company a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.45.

Insiders Place Their Bets

In other news, insider Patrick Michael Murphy sold 2,492 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total value of $214,037.88. Following the sale, the insider now directly owns 35,327 shares in the company, valued at $3,034,236.03. This represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is currently owned by company insiders.

iRhythm Technologies Trading Down 0.6 %

Shares of IRTC opened at $112.34 on Friday. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm’s 50-day moving average is $100.63 and its two-hundred day moving average is $83.07. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $124.11. The firm has a market capitalization of $3.52 billion, a P/E ratio of -23.12 and a beta of 1.29.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.30. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. On average, research analysts predict that iRhythm Technologies, Inc. will post -3.35 earnings per share 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.