iRhythm Technologies (NASDAQ:IRTC) Stock Rating Upgraded by StockNews.com

iRhythm Technologies (NASDAQ:IRTC) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

Several other research firms also recently commented on IRTC. Oppenheimer increased their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Truist Financial increased their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a report on Friday. Robert W. Baird cut their price objective on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company upped their target price on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.73.

iRhythm Technologies Stock Down 0.5 %

Shares of NASDAQ IRTC traded down $0.56 during trading hours on Monday, hitting $118.88. The stock had a trading volume of 789,814 shares, compared to its average volume of 457,280. The firm’s 50-day moving average price is $102.34 and its two-hundred day moving average price is $84.13. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $128.52. The company has a market capitalization of $3.73 billion, a P/E ratio of -32.66 and a beta of 1.29. 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 (NASDAQ:IRTC) last posted its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.29) by $0.30. The company had revenue of $164.33 million during the quarter, compared to the consensus estimate of $158.30 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. Analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Patrick Michael Murphy sold 2,492 shares of iRhythm Technologies 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 sale, the insider now directly owns 35,327 shares of the company’s stock, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.68% of the stock is currently owned by insiders.

Institutional Trading of iRhythm Technologies

Several institutional investors have recently modified their holdings of IRTC. R Squared Ltd acquired a new stake in shares of iRhythm Technologies during the fourth quarter worth $45,000. Van ECK Associates Corp boosted its holdings in iRhythm Technologies by 41.3% during the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after buying an additional 162 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of iRhythm Technologies during the 4th quarter worth about $60,000. Quarry LP bought a new stake in shares of iRhythm Technologies in the 3rd quarter valued at about $59,000. Finally, Nisa Investment Advisors LLC raised its position in shares of 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 acquiring 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.