Irhythm Technologies Inc (NASDAQ:IRTC) Holdings Trimmed by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in Irhythm Technologies Inc (NASDAQ:IRTC) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,585 shares of the company’s stock after selling 400 shares during the period. California Public Employees Retirement System owned about 0.18% of Irhythm Technologies worth $3,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in Irhythm Technologies during the fourth quarter worth about $55,000. Pearl River Capital LLC purchased a new position in Irhythm Technologies during the fourth quarter worth about $66,000. Bank of Montreal Can boosted its stake in Irhythm Technologies by 574.7% during the fourth quarter. Bank of Montreal Can now owns 1,120 shares of the company’s stock worth $78,000 after buying an additional 954 shares during the period. PNC Financial Services Group Inc. boosted its stake in Irhythm Technologies by 38.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,278 shares of the company’s stock worth $89,000 after buying an additional 358 shares during the period. Finally, South Texas Money Management Ltd. purchased a new position in Irhythm Technologies during the fourth quarter worth about $223,000.

In related news, Director Merz Cathleen Noel Bairey sold 1,209 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $76.40, for a total value of $92,367.60. Following the completion of the transaction, the director now owns 3,844 shares of the company’s stock, valued at approximately $293,681.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin M. King sold 60,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $70.00, for a total transaction of $4,200,000.00. Following the completion of the transaction, the insider now directly owns 212,400 shares of the company’s stock, valued at approximately $14,868,000. The disclosure for this sale can be found here. 3.85% of the stock is currently owned by insiders.

NASDAQ:IRTC traded up $1.93 during midday trading on Friday, reaching $79.08. The stock had a trading volume of 340,371 shares, compared to its average volume of 434,704. The business’s fifty day simple moving average is $72.85. Irhythm Technologies Inc has a 12-month low of $58.99 and a 12-month high of $98.37. The company has a current ratio of 3.27, a quick ratio of 3.18 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.87 billion, a PE ratio of -41.84 and a beta of 1.70.

Irhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Tuesday, May 7th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.17. The company had revenue of $47.21 million for the quarter, compared to analyst estimates of $43.83 million. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 71.31%. The business’s revenue was up 54.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.47) EPS. As a group, sell-side analysts expect that Irhythm Technologies Inc will post -1.53 EPS for the current year.

Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Irhythm Technologies from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Wednesday, April 17th. BidaskClub downgraded shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. Finally, BTIG Research upgraded shares of Irhythm Technologies from a “neutral” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $97.33.

Irhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.

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Institutional Ownership by Quarter for Irhythm Technologies (NASDAQ:IRTC)

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