iRhythm Technologies, Inc. (NASDAQ:IRTC) Holdings Cut by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its holdings in iRhythm Technologies, Inc. (NASDAQ:IRTC - Free Report) by 96.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,717 shares of the company's stock after selling 1,172,754 shares during the quarter. Alliancebernstein L.P. owned about 0.13% of iRhythm Technologies worth $3,581,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IRTC. R Squared Ltd purchased a new stake in iRhythm Technologies during the fourth quarter worth $45,000. Van ECK Associates Corp grew its position 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 valued at $50,000 after purchasing an additional 162 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of 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 position in shares of iRhythm Technologies by 45.1% during the 4th quarter. KBC Group NV now owns 1,319 shares of the company's stock worth $119,000 after purchasing an additional 410 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in iRhythm Technologies in the 3rd quarter valued at approximately $119,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial raised their price target on iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Wells Fargo & Company boosted their price objective on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an "equal weight" rating in a research report on Friday, February 21st. Oppenheimer upped their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 8th. The Goldman Sachs Group lifted their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a research note on Monday, February 24th. Finally, StockNews.com upgraded iRhythm Technologies from a "sell" rating to a "hold" rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.73.

iRhythm Technologies Stock Up 1.0 %

NASDAQ IRTC traded up $1.01 during trading hours on Friday, reaching $100.96. 256,074 shares of the company traded hands, compared to its average volume of 459,938. The company has a 50 day moving average of $105.45 and a two-hundred day moving average of $93.42. The stock has a market capitalization of $3.17 billion, a PE ratio of -27.74 and a beta of 1.45. iRhythm Technologies, Inc. has a 12 month low of $55.92 and a 12 month high of $128.52. 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 (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.30. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The firm had revenue of $164.33 million during the quarter, compared to analyst estimates of $158.30 million. As a group, equities analysts expect that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

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.