iRhythm Technologies (NASDAQ:IRTC) Shares Gap Up – What’s Next?

iRhythm Technologies, Inc. (NASDAQ:IRTC) shares gapped up prior to trading on Monday . The stock had previously closed at $100.67, but opened at $103.89. iRhythm Technologies shares last traded at $100.40, with a volume of 10,786 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IRTC. The Goldman Sachs Group boosted their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Oppenheimer increased their target price on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Wells Fargo & Company upped their price target on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Canaccord Genuity Group lifted their target price on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Needham & Company LLC raised their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.73.

iRhythm Technologies Trading Up 0.1 %

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 cap of $3.17 billion, a PE ratio of -27.69 and a beta of 1.36. The business’s fifty day moving average is $106.75 and its 200 day moving average is $87.73.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.29) by $0.30. The company had revenue of $164.33 million during the quarter, compared to analysts’ expectations of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. As a group, analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IRTC. R Squared Ltd acquired a new position in shares of iRhythm Technologies in the fourth quarter worth $45,000. Van ECK Associates Corp boosted its stake in iRhythm Technologies by 41.3% during the 4th 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 period. Quarry LP acquired a new position in iRhythm Technologies during the 3rd quarter valued at $59,000. Raiffeisen Bank International AG bought a new stake in shares of iRhythm Technologies in the fourth quarter valued at about $60,000. Finally, Nisa Investment Advisors LLC increased its holdings 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 period.

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.