Citigroup Inc. Sells 6,247 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Citigroup Inc. lowered its position in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 3.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 199,661 shares of the company’s stock after selling 6,247 shares during the period. Citigroup Inc.’s holdings in iRhythm Technologies were worth $14,823,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SeaCrest Wealth Management LLC grew its position in iRhythm Technologies by 7.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock worth $229,000 after acquiring an additional 150 shares during the last quarter. Nisa Investment Advisors LLC grew its position in iRhythm Technologies by 79.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after acquiring an additional 277 shares during the last quarter. Arizona State Retirement System grew its position in iRhythm Technologies by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 8,711 shares of the company’s stock worth $938,000 after acquiring an additional 287 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in iRhythm Technologies by 6.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,909 shares of the company’s stock worth $851,000 after acquiring an additional 482 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG grew its position in iRhythm Technologies by 22.3% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company’s stock worth $231,000 after acquiring an additional 567 shares during the last quarter.

iRhythm Technologies Stock Up 8.0 %

Shares of NASDAQ:IRTC opened at $89.02 on Thursday. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of -18.32 and a beta of 1.23. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The business’s 50-day moving average is $73.51 and its 200-day moving average is $81.74. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The firm had revenue of $147.54 million for the quarter, compared to analyst estimates of $146.69 million. During the same period last year, the company posted ($0.89) earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities research analysts predict that iRhythm Technologies, Inc. will post -3.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IRTC has been the topic of a number of research reports. The Goldman Sachs Group began coverage on iRhythm Technologies in a research report on Friday, October 4th. They set a “neutral” rating and a $78.00 price objective on the stock. Oppenheimer cut their target price on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. JPMorgan Chase & Co. cut their target price on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Canaccord Genuity Group lifted their target price on iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.50.

Insider Buying and Selling

In related news, Director Abhijit Y. Talwalkar acquired 6,664 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was purchased at an average cost of $75.16 per share, with a total value of $500,866.24. Following the acquisition, the director now owns 18,941 shares of the company’s stock, valued at approximately $1,423,605.56. This trade represents a 54.28 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Quentin S. Blackford sold 16,145 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $77.41, for a total value of $1,249,784.45. Following the sale, the chief executive officer now directly owns 159,929 shares of the company’s stock, valued at $12,380,103.89. This represents a 9.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

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.