Arizona State Retirement System Lowers Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

Arizona State Retirement System decreased its position in iRhythm Technologies, Inc. (NASDAQ:IRTC) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,549 shares of the company’s stock after selling 127 shares during the period. Arizona State Retirement System’s holdings in iRhythm Technologies were worth $915,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of IRTC. US Bancorp DE boosted its holdings in shares of iRhythm Technologies by 3.7% in the first quarter. US Bancorp DE now owns 4,012 shares of the company’s stock valued at $632,000 after purchasing an additional 144 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of iRhythm Technologies by 49.2% in the first quarter. MetLife Investment Management LLC now owns 15,778 shares of the company’s stock valued at $2,485,000 after purchasing an additional 5,205 shares during the period. BlackRock Inc. boosted its holdings in shares of iRhythm Technologies by 0.4% in the first quarter. BlackRock Inc. now owns 2,093,147 shares of the company’s stock valued at $329,607,000 after purchasing an additional 8,440 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of iRhythm Technologies by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 68,492 shares of the company’s stock valued at $10,783,000 after purchasing an additional 2,603 shares during the period. Finally, Vontobel Holding Ltd. purchased a new stake in shares of iRhythm Technologies in the first quarter valued at approximately $248,000.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $109.85 on Wednesday. iRhythm Technologies, Inc. has a 12 month low of $70.24 and a 12 month high of $140.23. The stock has a fifty day moving average price of $111.98 and a 200-day moving average price of $100.91. The company has a current ratio of 2.15, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.42 billion, a PE ratio of -27.12 and a beta of 1.31.

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

Insider Activity

In other news, EVP Daniel G. Wilson sold 1,261 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $153,791.56. Following the completion of the sale, the executive vice president now owns 32,967 shares in the company, valued at approximately $4,020,655.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Daniel G. Wilson sold 1,261 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Patrick Michael Murphy sold 7,615 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $928,725.40. Following the completion of the transaction, the insider now directly owns 48,962 shares in the company, valued at $5,971,405.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,052 shares of company stock worth $4,274,942. Insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on IRTC. JPMorgan Chase & Co. lowered their price target on iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Needham & Company LLC upped their target price on iRhythm Technologies from $136.00 to $137.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Canaccord Genuity Group upped their target price on iRhythm Technologies from $121.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Truist Financial upped their target price on iRhythm Technologies from $115.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $135.11.

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.