New York State Common Retirement Fund grew its stake in shares of iRobot Co. (NASDAQ:IRBT) by 4.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 30,300 shares of the industrial products company’s stock after acquiring an additional 1,400 shares during the period. New York State Common Retirement Fund’s holdings in iRobot were worth $1,945,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. Silvant Capital Management LLC bought a new stake in shares of iRobot in the 1st quarter worth approximately $120,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of iRobot in the 1st quarter worth approximately $200,000. Xact Kapitalforvaltning AB bought a new stake in shares of iRobot in the 4th quarter worth approximately $204,000. Oppenheimer & Co. Inc. bought a new stake in shares of iRobot in the 1st quarter worth approximately $205,000. Finally, Elkfork Partners LLC bought a new stake in shares of iRobot in the 4th quarter worth approximately $209,000. Institutional investors own 84.10% of the company’s stock.
A number of analysts recently commented on the stock. BidaskClub upgraded shares of iRobot from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. Canaccord Genuity dropped their target price on shares of iRobot from $65.00 to $63.00 and set a “hold” rating on the stock in a report on Thursday, April 26th. ValuEngine downgraded shares of iRobot from a “hold” rating to a “sell” rating in a report on Wednesday, April 18th. Zacks Investment Research downgraded shares of iRobot from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of iRobot from $61.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $68.20.
iRobot stock opened at $75.40 on Wednesday. The company has a market capitalization of $2.07 billion, a PE ratio of 35.95, a PEG ratio of 2.15 and a beta of 1.09. iRobot Co. has a fifty-two week low of $55.77 and a fifty-two week high of $109.78.
iRobot (NASDAQ:IRBT) last released its earnings results on Tuesday, April 24th. The industrial products company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.22. The business had revenue of $217.10 million for the quarter, compared to the consensus estimate of $212.81 million. iRobot had a net margin of 5.90% and a return on equity of 12.95%. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share. research analysts predict that iRobot Co. will post 2.3 EPS for the current year.
iRobot declared that its board has authorized a stock repurchase program on Tuesday, February 27th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO Colin M. Angle sold 13,334 shares of iRobot stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $1,000,050.00. Following the transaction, the chief executive officer now directly owns 499,173 shares of the company’s stock, valued at $37,437,975. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew Miller sold 636 shares of iRobot stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $69.41, for a total transaction of $44,144.76. Following the completion of the transaction, the director now directly owns 6,538 shares in the company, valued at $453,802.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,920 shares of company stock worth $1,940,445. 3.51% of the stock is currently owned by insiders.
iRobot Corporation designs, builds, and sells robots for the consumer market worldwide. It offers Roomba floor vacuuming robots; Braava family of automatic floor mopping robots; and Mirra Pool Cleaning Robot to clean residential pools and removes debris as small as two microns from pool floors, walls, and stair.
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