iRhythm Technologies, Inc. (NASDAQ:IRTC) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its stake in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) by 38.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,468 shares of the company’s stock after selling 159,083 shares during the period. Bank of America Corp DE owned 0.81% of iRhythm Technologies worth $22,765,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Barclays PLC increased its position in iRhythm Technologies by 34.3% during the third quarter. Barclays PLC now owns 209,247 shares of the company’s stock worth $15,534,000 after buying an additional 53,498 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of iRhythm Technologies by 28.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 4,506 shares of the company’s stock valued at $406,000 after acquiring an additional 994 shares during the last quarter. Nisa Investment Advisors LLC increased its position in iRhythm Technologies by 166.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock worth $94,000 after purchasing an additional 648 shares in the last quarter. KBC Group NV raised its stake in 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, R Squared Ltd acquired a new position in iRhythm Technologies in the 4th quarter valued at about $45,000.

iRhythm Technologies Trading Down 0.0%

Shares of IRTC opened at $141.00 on Monday. iRhythm Technologies, Inc. has a twelve month low of $55.92 and a twelve month high of $142.68. The firm has a market capitalization of $4.50 billion, a P/E ratio of -38.74 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. The stock’s fifty day simple moving average is $110.66 and its 200 day simple moving average is $101.47.

iRhythm Technologies (NASDAQ:IRTC) last announced 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 firm had revenue of $158.68 million for the quarter, compared to analyst estimates of $153.39 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The business’s revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.23) earnings per share. On average, equities research analysts forecast that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on IRTC shares. Canaccord Genuity Group lowered their price target on shares of 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 target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Robert W. Baird boosted their price target on iRhythm Technologies from $133.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. The Goldman Sachs Group increased their price target on iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Finally, Needham & Company LLC lifted their price objective on iRhythm Technologies from $138.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.55.

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.