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

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

A number of other institutional investors have also modified their holdings of the stock. Barclays PLC grew its stake in iRhythm Technologies by 34.3% in the third quarter. Barclays PLC now owns 209,247 shares of the company’s stock worth $15,534,000 after purchasing an additional 53,498 shares in the last quarter. Nisa Investment Advisors LLC raised 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 valued at $94,000 after purchasing an additional 648 shares in the last quarter. KBC Group NV lifted its holdings 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 worth $119,000 after buying an additional 410 shares during the period. R Squared Ltd bought a new position in shares of iRhythm Technologies during the 4th quarter worth $45,000. Finally, Stephens Investment Management Group LLC grew its position in shares of iRhythm Technologies by 25.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company’s stock worth $45,349,000 after buying an additional 102,600 shares in the last quarter.

iRhythm Technologies Stock Up 0.2%

NASDAQ:IRTC opened at $142.69 on Monday. The company’s 50-day simple moving average is $114.71 and its 200-day simple moving average is $103.47. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies, Inc. has a fifty-two week low of $55.92 and a fifty-two week high of $144.25. The stock has a market capitalization of $4.56 billion, a P/E ratio of -39.20 and a beta of 1.34.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.06). iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The firm had revenue of $158.68 million during the quarter, compared to analyst estimates of $153.39 million. During the same quarter last year, the business earned ($1.23) earnings per share. iRhythm Technologies’s revenue was up 20.3% on a year-over-year basis. On average, equities analysts anticipate that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial lifted their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a report on Friday, February 21st. Wells Fargo & Company raised shares of iRhythm Technologies from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. Wall Street Zen cut shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Canaccord Genuity Group dropped their price objective on shares of iRhythm Technologies from $152.00 to $139.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group lifted their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.73.

About iRhythm Technologies

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.