State of New Jersey Common Pension Fund D Purchases 6,012 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

State of New Jersey Common Pension Fund D increased its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 25.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,300 shares of the company’s stock after purchasing an additional 6,012 shares during the period. State of New Jersey Common Pension Fund D owned 0.10% of iRhythm Technologies worth $3,136,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd raised its position in shares of iRhythm Technologies by 285.2% during the 3rd quarter. Covestor Ltd now owns 312 shares of the company’s stock valued at $29,000 after purchasing an additional 231 shares during the period. Nisa Investment Advisors LLC raised its position in shares of iRhythm Technologies by 110.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 574 shares of the company’s stock valued at $54,000 after purchasing an additional 301 shares during the period. International Assets Investment Management LLC bought a new stake in shares of iRhythm Technologies during the 4th quarter valued at $92,000. Quent Capital LLC bought a new stake in shares of iRhythm Technologies during the 4th quarter valued at $161,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of iRhythm Technologies during the 4th quarter valued at $205,000.

Insider Buying and Selling

In related news, CEO Quentin S. Blackford sold 24,701 shares of iRhythm Technologies stock in a transaction dated 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 of the company’s stock, valued at approximately $21,954,629.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Daniel G. Wilson sold 1,261 shares of iRhythm Technologies stock in a transaction dated Thursday, February 29th. The shares were 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 Securities & Exchange Commission, which is available at this link. Also, CEO Quentin S. Blackford sold 24,701 shares of iRhythm Technologies stock in a transaction dated 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 sale, the chief executive officer now owns 180,015 shares of the company’s stock, valued at approximately $21,954,629.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,052 shares of company stock valued at $4,274,942. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

IRTC has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Needham & Company LLC raised their target price on shares of iRhythm Technologies from $136.00 to $137.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Canaccord Genuity Group raised their target price on shares of iRhythm Technologies from $121.00 to $133.00 and gave the company 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.11.

iRhythm Technologies Stock Performance

Shares of NASDAQ:IRTC opened at $111.91 on Friday. iRhythm Technologies, Inc. has a 52 week low of $70.24 and a 52 week high of $135.80. The stock has a market capitalization of $3.48 billion, a P/E ratio of -27.63 and a beta of 1.30. The firm has a fifty day simple moving average of $111.28 and a two-hundred day simple moving average of $102.31. The company has a quick ratio of 2.02, a current ratio of 2.15 and a debt-to-equity ratio of 0.17.

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