iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by Citigroup Inc.

Citigroup Inc. lessened its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTCFree Report) by 81.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,730 shares of the company’s stock after selling 11,861 shares during the period. Citigroup Inc.’s holdings in iRhythm Technologies were worth $257,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd grew its position in iRhythm Technologies by 285.2% during the third quarter. Covestor Ltd now owns 312 shares of the company’s stock valued at $29,000 after buying an additional 231 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of iRhythm Technologies in the third quarter valued at about $38,000. Nisa Investment Advisors LLC grew its position in shares of iRhythm Technologies by 110.3% in the third 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. Point72 Hong Kong Ltd acquired a new stake in shares of iRhythm Technologies in the second quarter valued at about $85,000. Finally, Captrust Financial Advisors grew its position in shares of iRhythm Technologies by 102.3% in the second quarter. Captrust Financial Advisors now owns 985 shares of the company’s stock valued at $106,000 after purchasing an additional 498 shares during the period.

iRhythm Technologies Price Performance

iRhythm Technologies stock opened at $115.76 on Thursday. The company’s 50 day simple moving average is $113.31 and its 200-day simple moving average is $98.73. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -28.58 and a beta of 1.30. iRhythm Technologies, Inc. has a 1 year low of $70.24 and a 1 year high of $140.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 2.15.

iRhythm Technologies (NASDAQ:IRTCGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.66). The company had revenue of $132.51 million during the quarter, compared to analysts’ expectations of $131.14 million. iRhythm Technologies had a negative net margin of 25.05% and a negative return on equity of 56.38%. As a group, equities research analysts expect that iRhythm Technologies, Inc. will post -3.14 earnings per share for the current year.

Insider Activity

In related news, CEO Quentin S. Blackford sold 24,701 shares of the company’s stock in a transaction that occurred on 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 directly owns 180,015 shares of the company’s stock, valued at approximately $21,954,629.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Quentin S. Blackford sold 24,701 shares of the company’s stock in a transaction that occurred on 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 directly owns 180,015 shares of the company’s stock, valued at approximately $21,954,629.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Patrick Michael Murphy sold 7,615 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $928,725.40. Following the sale, 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 three months, insiders have sold 42,270 shares of company stock valued at $5,020,634. Company insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

IRTC has been the topic of several research analyst reports. Needham & Company LLC lifted their target price on shares of iRhythm Technologies from $136.00 to $137.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Citigroup upgraded shares of iRhythm Technologies from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Monday, December 11th. Truist Financial boosted their price target on shares of iRhythm Technologies from $115.00 to $133.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. JPMorgan Chase & Co. lowered their price target 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. Finally, Canaccord Genuity Group boosted their price target on shares of iRhythm Technologies from $121.00 to $133.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $135.11.

View Our Latest Report on IRTC

iRhythm Technologies Profile

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

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