iRhythm Technologies (NASDAQ:IRTC) Upgraded at StockNews.com

StockNews.com upgraded shares of iRhythm Technologies (NASDAQ:IRTC) from a sell rating to a hold rating in a research note released on Monday morning.

A number of other equities research analysts have also weighed in on IRTC. Canaccord Genuity Group upped their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Truist Financial raised their target price on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company boosted their price target on shares of iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. The Goldman Sachs Group raised 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. Finally, Needham & Company LLC boosted their target price on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and an average price target of $119.73.

iRhythm Technologies Price Performance

Shares of IRTC opened at $109.42 on Monday. The business has a 50-day moving average of $103.26 and a 200-day moving average of $84.61. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of -30.06 and a beta of 1.29. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $128.52.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $158.30 million. As a group, equities research analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insider Activity at iRhythm Technologies

In other news, insider Patrick Michael Murphy sold 2,492 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total transaction of $214,037.88. Following the completion of the sale, the insider now directly owns 35,327 shares of the company’s stock, valued at approximately $3,034,236.03. The trade was a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On iRhythm Technologies

A number of large investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. grew its holdings in iRhythm Technologies by 27.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,512 shares of the company’s stock worth $261,000 after purchasing an additional 754 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of iRhythm Technologies during the 3rd quarter worth approximately $592,000. Harbor Capital Advisors Inc. grew its position in iRhythm Technologies by 272.0% during the third quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock valued at $5,935,000 after buying an additional 58,448 shares during the period. WoodTrust Financial Corp increased its stake in shares of iRhythm Technologies by 28.4% in the 3rd quarter. WoodTrust Financial Corp now owns 11,307 shares of the company’s stock valued at $839,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of iRhythm Technologies by 8.0% in the third quarter. Assetmark Inc. now owns 12,645 shares of the company’s stock valued at $939,000 after buying an additional 937 shares in the last quarter.

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.