iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $167.00 at Citigroup

iRhythm Technologies (NASDAQ:IRTC) had its price objective hoisted by Citigroup from $130.00 to $167.00 in a research report released on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

IRTC has been the subject of several other research reports. Needham & Company LLC raised their price objective on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Robert W. Baird increased their price target on shares of iRhythm Technologies from $133.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Wall Street Zen cut shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Truist Financial lifted their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Canaccord Genuity Group reduced their price objective on shares of iRhythm Technologies from $152.00 to $139.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.73.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $142.69 on Thursday. The firm has a 50-day moving average price of $114.71 and a 200 day moving average price of $103.37. The firm has a market capitalization of $4.56 billion, a PE ratio of -39.20 and a beta of 1.34. 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 has a 52-week low of $55.92 and a 52-week high of $144.25.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.06). iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The company had revenue of $158.68 million during the quarter, compared to the consensus estimate of $153.39 million. During the same quarter in the prior year, the company earned ($1.23) EPS. The business’s quarterly revenue was up 20.3% on a year-over-year basis. On average, sell-side analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iRhythm Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. MCF Advisors LLC bought a new stake in iRhythm Technologies in the 1st quarter valued at $25,000. AlphaQuest LLC acquired a new position in iRhythm Technologies during the 1st quarter worth about $30,000. R Squared Ltd acquired a new position in iRhythm Technologies during the 4th quarter valued at about $45,000. Van ECK Associates Corp lifted its position 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. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in iRhythm Technologies during the 1st quarter valued at about $50,000.

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.