UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 334,823 shares of the company's stock after selling 28,703 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.07% of iRhythm Technologies worth $30,191,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in iRhythm Technologies in the fourth quarter valued at about $45,000. Van ECK Associates Corp lifted its holdings in shares of iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after acquiring an additional 162 shares during the last quarter. Raiffeisen Bank International AG bought a new position in shares of iRhythm Technologies in the fourth quarter worth about $60,000. Nisa Investment Advisors LLC lifted its stake 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 purchasing an additional 648 shares during the last quarter. Finally, KBC Group NV raised its position in iRhythm Technologies by 45.1% in the fourth 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.

iRhythm Technologies Stock Performance

NASDAQ IRTC traded down $0.87 during trading hours on Friday, reaching $141.37. 787,545 shares of the company were exchanged, compared to its average volume of 481,396. iRhythm Technologies, Inc. has a 1 year low of $55.92 and a 1 year high of $146.58. The business's 50 day simple moving average is $118.50 and its 200-day simple moving average is $105.29. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The stock has a market capitalization of $4.51 billion, a P/E ratio of -38.84 and a beta of 1.34.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IRTC shares. Citigroup raised their price objective on shares of iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Canaccord Genuity Group lowered their target price on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Truist Financial lifted their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, February 21st. The Goldman Sachs Group boosted their price objective on iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a report on Monday, February 24th. Finally, Wall Street Zen downgraded shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $133.73.

iRhythm Technologies 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.