iRhythm Technologies (NASDAQ:IRTC) Reaches New 12-Month High – Here’s What Happened

iRhythm Technologies, Inc. (NASDAQ:IRTC)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $146.90 and last traded at $146.70, with a volume of 117058 shares changing hands. The stock had previously closed at $140.65.

Wall Street Analyst Weigh In

A number of analysts have commented on IRTC shares. Robert W. Baird boosted 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. The Goldman Sachs Group increased their price target on iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Wall Street Zen lowered iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Citigroup lifted their target price on iRhythm Technologies from $130.00 to $167.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Finally, Needham & Company LLC upped their price target on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a “buy” rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.73.

iRhythm Technologies Stock Performance

The firm’s fifty day simple moving average is $119.22 and its 200 day simple moving average is $105.86. 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 $4.62 billion, a price-to-earnings ratio of -39.79 and a beta of 1.34.

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 the consensus estimate of ($0.89) by ($0.06). The firm had revenue of $158.68 million for the quarter, compared to analyst estimates of $153.39 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. iRhythm Technologies’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.23) earnings per share. On average, sell-side analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current year.

Institutional Investors Weigh In On iRhythm Technologies

Several hedge funds have recently bought and sold shares of IRTC. MCF Advisors LLC acquired a new position in iRhythm Technologies in the 1st quarter valued at approximately $25,000. AlphaQuest LLC purchased a new stake in shares of iRhythm Technologies during the 1st quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of iRhythm Technologies during the 1st quarter valued at about $50,000. R Squared Ltd acquired a new stake in shares of iRhythm Technologies during the 4th quarter valued at about $45,000. Finally, CWM LLC grew its stake in shares of iRhythm Technologies by 54.3% in the 1st quarter. CWM LLC now owns 517 shares of the company’s stock valued at $54,000 after buying an additional 182 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.