Citigroup Inc. Sells 11,861 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

Citigroup Inc. decreased its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 81.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,730 shares of the company’s stock after selling 11,861 shares during the quarter. Citigroup Inc.’s holdings in iRhythm Technologies were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of iRhythm Technologies by 1.1% in the third quarter. Vanguard Group Inc. now owns 2,779,425 shares of the company’s stock worth $348,205,000 after purchasing an additional 30,761 shares during the period. BlackRock Inc. increased its holdings in shares of iRhythm Technologies by 4.6% in the second quarter. BlackRock Inc. now owns 2,373,248 shares of the company’s stock worth $247,577,000 after purchasing an additional 104,541 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of iRhythm Technologies by 22.5% in the third quarter. Artisan Partners Limited Partnership now owns 1,962,625 shares of the company’s stock worth $184,997,000 after purchasing an additional 359,908 shares during the period. Capital Research Global Investors increased its holdings in shares of iRhythm Technologies by 60.9% in the first quarter. Capital Research Global Investors now owns 1,411,300 shares of the company’s stock worth $222,237,000 after purchasing an additional 534,300 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of iRhythm Technologies by 3.4% in the third quarter. Mackenzie Financial Corp now owns 1,262,179 shares of the company’s stock worth $111,425,000 after purchasing an additional 41,052 shares during the period.

Insiders Place Their Bets

In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,261 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $153,791.56. Following the completion of the sale, the executive vice president now directly owns 32,967 shares in the company, valued at $4,020,655.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other iRhythm Technologies news, EVP Daniel G. Wilson sold 7,218 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $103.31, for a total transaction of $745,691.58. Following the completion of the transaction, the executive vice president now owns 26,629 shares of the company’s stock, valued at $2,751,041.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel G. Wilson sold 1,261 shares of the firm’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 $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 disclosure for this sale can be found here. Insiders sold 42,270 shares of company stock worth $5,020,634 over the last three months. Company insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

IRTC has been the topic of several research analyst reports. Needham & Company LLC upped their price target on shares of iRhythm Technologies from $136.00 to $137.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Truist Financial increased their target price on iRhythm Technologies from $115.00 to $133.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Citigroup raised iRhythm Technologies from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Monday, December 11th. Canaccord Genuity Group upped their price target on shares of iRhythm Technologies from $121.00 to $133.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.11.

iRhythm Technologies Stock Performance

iRhythm Technologies stock opened at $115.76 on Thursday. 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 50-day moving average of $113.31 and a 200-day moving average of $98.73. The firm has a market cap of $3.59 billion, a P/E 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.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, February 22nd. The company reported ($1.26) earnings per share 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 firm had revenue of $132.51 million for the quarter, compared to analysts’ expectations of $131.14 million. Sell-side analysts expect that iRhythm Technologies, Inc. will post -3.14 EPS for the current 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.