iRhythm Technologies (NASDAQ:IRTC) Rating Increased to Hold at StockNews.com

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

A number of other analysts also recently commented on the company. Robert W. Baird decreased their target price on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Canaccord Genuity Group upped their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Truist Financial upped their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research report on Friday. Needham & Company LLC upped 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. Finally, Wells Fargo & Company upped their price objective on iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.73.

iRhythm Technologies Trading Down 0.5 %

Shares of IRTC stock opened at $118.88 on Monday. The business’s fifty day moving average price is $102.34 and its 200 day moving average price is $84.13. iRhythm Technologies has a 1-year low of $55.92 and a 1-year high of $128.52. The firm has a market capitalization of $3.73 billion, a PE ratio of -32.66 and a beta of 1.29. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $158.30 million. As a group, sell-side analysts forecast that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was 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 in the company, valued at $3,034,236.03. This represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On iRhythm Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in iRhythm Technologies during the fourth quarter worth about $45,000. Van ECK Associates Corp grew its stake 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 buying an additional 162 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in iRhythm Technologies during the 4th quarter valued at approximately $60,000. Quarry LP acquired a new stake in iRhythm Technologies during the 3rd quarter valued at approximately $59,000. Finally, Nisa Investment Advisors LLC grew its stake 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.

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.