BNP Paribas Financial Markets Sells 7,391 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)

BNP Paribas Financial Markets lessened its position in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 62.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,377 shares of the company's stock after selling 7,391 shares during the period. BNP Paribas Financial Markets' holdings in iRhythm Technologies were worth $395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of iRhythm Technologies in the fourth quarter worth about $45,000. Van ECK Associates Corp grew its holdings in shares of iRhythm Technologies by 41.3% during the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after purchasing an additional 162 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in iRhythm Technologies by 166.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock valued at $94,000 after buying an additional 648 shares during the last quarter. KBC Group NV boosted its stake in shares of iRhythm Technologies by 45.1% in the 4th quarter. KBC Group NV now owns 1,319 shares of the company's stock valued at $119,000 after purchasing an additional 410 shares during the last quarter. Finally, Xponance Inc. bought a new position in shares of iRhythm Technologies in the 4th quarter worth $203,000.

iRhythm Technologies Price Performance

Shares of iRhythm Technologies stock traded down $1.45 on Friday, hitting $140.79. 40,279 shares of the company traded hands, compared to its average volume of 477,602. The company has a market cap of $4.49 billion, a P/E ratio of -38.64 and a beta of 1.34. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. iRhythm Technologies, Inc. has a 12-month low of $55.92 and a 12-month high of $146.58. The firm's 50-day simple moving average is $117.81 and its 200 day simple moving average is $104.79.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The business had revenue of $158.68 million for the quarter, compared to analysts' expectations of $153.39 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The company's revenue was up 20.3% compared to the same quarter last year. During the same period last year, the business posted ($1.23) earnings per share. Analysts expect that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, February 24th. Truist Financial boosted their price target on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Needham & Company LLC upped their target price on iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Robert W. Baird increased their price target on iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Citigroup raised their price target on shares of iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $133.73.

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.