New York State Common Retirement Fund Purchases 9,127 Shares of iRhythm Technologies $IRTC

New York State Common Retirement Fund increased its stake in iRhythm Technologies by 5.7% in Q2, purchasing 9,127 shares. Analysts have mixed ratings, with a consensus of 'Moderate Buy' and an average target price of $201.57. The stock opened at $182.74, with a market cap of $5.89 billion and a 12-month high of $212.00.

New York State Common Retirement Fund raised its stake in shares of iRhythm Technologies (NASDAQ:IRTC - Free Report) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 170,013 shares of the company's stock after purchasing an additional 9,127 shares during the period. New York State Common Retirement Fund owned 0.53% of iRhythm Technologies worth $26,175,000 at the end of the most recent quarter.

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Other hedge funds have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. bought a new position in shares of iRhythm Technologies in the 1st quarter worth about $54,249,000. Cim Investment Management Inc. grew its position in shares of iRhythm Technologies by 97.6% during the 1st quarter. Cim Investment Management Inc. now owns 11,530 shares of the company's stock worth $1,122,000 after buying an additional 5,696 shares during the period. Ethic Inc. bought a new stake in shares of iRhythm Technologies in the 2nd quarter valued at $242,000. Northern Trust Corp lifted its position in shares of iRhythm Technologies by 1.6% during the 1st quarter. Northern Trust Corp now owns 292,009 shares of the company's stock valued at $30,568,000 after acquiring an additional 4,675 shares during the period. Finally, Corton Capital Inc. acquired a new stake in iRhythm Technologies in the second quarter worth $342,000.

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Insider Activity

In related news, CFO Daniel G. Wilson sold 8,000 shares of the firm's stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $207.44, for a total transaction of $1,659,520.00. Following the completion of the sale, the chief financial officer owned 26,470 shares in the company, valued at approximately $5,490,936.80. This trade represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Quentin S. Blackford sold 14,059 shares of iRhythm Technologies stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $182.94, for a total transaction of $2,571,953.46. Following the completion of the sale, the chief executive officer directly owned 164,979 shares in the company, valued at approximately $30,181,258.26. This represents a 7.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 27,059 shares of company stock valued at $5,106,473. 0.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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IRTC has been the subject of a number of research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of iRhythm Technologies in a research note on Wednesday, October 8th. Citigroup boosted their price target on shares of iRhythm Technologies from $205.00 to $242.00 and gave the company a "buy" rating in a research note on Friday, October 31st. Evercore ISI lowered their price objective on shares of iRhythm Technologies from $185.00 to $175.00 and set an "in-line" rating on the stock in a report on Tuesday, October 7th. Robert W. Baird boosted their target price on shares of iRhythm Technologies from $180.00 to $220.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of iRhythm Technologies from $190.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $201.57.

Read Our Latest Report on IRTC

iRhythm Technologies Stock Performance

Shares of IRTC opened at $182.74 on Tuesday. The stock has a 50 day moving average of $177.74 and a 200 day moving average of $161.97. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of -113.50 and a beta of 1.10. iRhythm Technologies has a 12 month low of $81.10 and a 12 month high of $212.00. The company has a current ratio of 4.63, a quick ratio of 4.50 and a debt-to-equity ratio of 5.32.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.30. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The business had revenue of $192.88 million for the quarter, compared to analysts' expectations of $184.75 million. During the same quarter in the previous year, the firm earned ($1.26) earnings per share. The business's revenue was up 30.8% on a year-over-year basis. iRhythm Technologies has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current year.

About iRhythm Technologies

(Free Report)

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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