A Major Position Reduction in Ambulatory Cardiac Monitoring On Sept. 30, 2026, MILLENNIUM MANAGEMENT LLC (Trades, Portfolio) executed a significant reduction in
A Major Position Reduction in Ambulatory Cardiac Monitoring On Sept.
30, 2026, MILLENNIUM MANAGEMENT LLC (Trades, Portfolio) executed a significant reduction in
A Major Position Reduction in Ambulatory Cardiac Monitoring
On Sept. 30, 2026, MILLENNIUM MANAGEMENT LLC (Trades, Portfolio) executed a significant reduction in its position in iRhythm Holdings Inc. IRTC, selling 1,057,367 shares at a price of $113.66 per share. The transaction represents a -75.18% change in the firm's holdings of IRTC, leaving MILLENNIUM MANAGEMENT LLC (Trades, Portfolio) with 349,087 shares. Following the sale, the retained stake accounts for 0.01% of the firm's portfolio and 1.10% of the company's outstanding shares. The trade had a -0.04% impact on MILLENNIUM MANAGEMENT LLC (Trades, Portfolio)'s overall portfolio, a figure that reflects the firm's diversified, risk-managed approach rather than a concentrated bet on any single position. For value investors tracking 13F filings, this reduction is notable given the size of the position change relative to the firm's broader equity book.
Guru Profile: MILLENNIUM MANAGEMENT LLC (Trades, Portfolio)
MILLENNIUM MANAGEMENT LLC (Trades, Portfolio) is a privately owned hedge fund sponsor founded in 1989 by Israel Englander and Ronald Shear, starting with $35 million in seed capital. The firm employs a multi-strategy approach including statistical arbitrage, fundamental long-short pairing, merger arbitrage, and convertible arbitrage, with a focus on liquid asset classes and absolute returns. With approximately $270.22 billion in equity and 5,629 stock holdings, MILLENNIUM MANAGEMENT LLC (Trades, Portfolio) emphasizes capital preservation through diversified, global, and opportunistic strategies, with each trading team operating with significant autonomy under executive and risk management oversight. Top holdings include iShares Core S&P 500 ETF IVV, State Street SPDR S&P 500 ETF Trust SPY, NVIDIA Corp NVDA, Norfolk Southern Corp NSC, and Space Exploration Technologies Corp SPCX, with Technology and Industrials as the leading sectors.
Company Profile: iRhythm Technologies Inc. IRTC
iRhythm Technologies Inc. is a digital healthcare company specializing in ambulatory cardiac monitoring, with its principal product being the Zio System—a wire-free, patch-based wearable biosensor paired with proprietary cloud-based analytics for detecting arrhythmias. The company generates revenue primarily through reimbursement for monitoring services from third-party payers such as Medicare, commercial insurers, and healthcare institutions, rather than direct device sales. iRhythm serves physicians, hospitals, and health systems in the United States and internationally, including Europe and Japan, and has a market capitalization of approximately $3.5 billion. The company was formerly known as iRhythm Holdings Inc. and completed its initial public offering in October 2016.
Valuation and Financial Metrics: A Significantly Undervalued Profile
Based on GuruFocus' exclusive GF Value methodology, IRTC is considered "Significantly Undervalued," with a GF Value of $156.46 and a price-to-GF Value ratio of 0.68. The stock has a GF-Score of 81/100, indicating good outperformance potential, supported by a perfect Growth Rank of 10/10 and a GF Value Rank of 8/10. Financial strength metrics show a Financial Strength Rank of 5/10, a Profitability Rank of 4/10, and a Piotroski F-Score of 6, while the company's ROE and ROA stand at -9.61% and -1.37%, respectively, reflecting current unprofitability. Revenue growth over three years is 19.30%, EBITDA growth is 65.70%, and earnings growth is 31.10%, demonstrating strong top-line and operational expansion despite negative margins.
Averytin News Financial update.