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 issued to investors on Monday.

Several other equities research analysts also recently weighed in on IRTC. The Goldman Sachs Group upped their price target on iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday. Canaccord Genuity Group increased their price objective 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. Wells Fargo & Company raised 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, February 21st. Needham & Company LLC upped their price objective 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. Finally, Robert W. Baird lowered their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.73.

iRhythm Technologies Stock Down 3.9 %

NASDAQ:IRTC opened at $109.42 on Monday. The stock’s fifty day moving average is $103.26 and its two-hundred day moving average is $84.61. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $128.52. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -30.06 and a beta of 1.29. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly 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. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The company had revenue of $164.33 million during the quarter, compared to analysts’ expectations of $158.30 million. Research analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current year.

Insider Buying and Selling

In related news, insider Patrick Michael Murphy sold 2,492 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the sale, the insider now owns 35,327 shares of the company’s stock, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On iRhythm Technologies

A number of institutional investors have recently modified their holdings of IRTC. Vanguard Group Inc. grew its position in iRhythm Technologies by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,136,370 shares of the company’s stock valued at $282,806,000 after acquiring an additional 18,442 shares during the period. State Street Corp raised its stake in iRhythm Technologies by 1.3% during the third quarter. State Street Corp now owns 908,843 shares of the company’s stock valued at $67,473,000 after buying an additional 11,992 shares in the last quarter. Braidwell LP lifted its holdings in iRhythm Technologies by 48.7% during the 3rd quarter. Braidwell LP now owns 782,557 shares of the company’s stock worth $58,097,000 after buying an additional 256,200 shares during the last quarter. Eventide Asset Management LLC grew its position in shares of iRhythm Technologies by 170.8% in the 3rd quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock worth $54,694,000 after acquiring an additional 464,629 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of iRhythm Technologies by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 733,308 shares of the company’s stock valued at $54,451,000 after acquiring an additional 5,423 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.