iRhythm Technologies (NASDAQ:IRTC) Upgraded to Hold at 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 to clients and investors on Monday.

Several other research firms have also recently commented on IRTC. Needham & Company LLC raised their target price on iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird decreased their price target on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company lifted their price objective on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a research note on Friday. Canaccord Genuity Group increased their target price 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. Finally, Oppenheimer raised their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $119.73.

iRhythm Technologies Stock Performance

Shares of IRTC traded down $0.56 during midday trading on Monday, hitting $118.88. 789,814 shares of the stock traded hands, compared to its average volume of 457,280. 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 has a 1-year low of $55.92 and a 1-year high of $128.52. The business’s 50 day moving average price is $102.34 and its two-hundred day moving average price is $84.13. The firm has a market capitalization of $3.73 billion, a PE ratio of -32.66 and a beta of 1.29.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $164.33 million during the quarter, compared to analyst estimates of $158.30 million. Equities research analysts predict that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of iRhythm Technologies stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total transaction of $214,037.88. Following the transaction, the insider now directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. The trade was a 6.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.68% of the company’s stock.

Institutional Trading of iRhythm Technologies

Several hedge funds and other institutional investors have recently modified their holdings of IRTC. Hennion & Walsh Asset Management Inc. boosted its position in iRhythm Technologies by 27.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,512 shares of the company’s stock worth $261,000 after acquiring an additional 754 shares during the period. SteelPeak Wealth LLC purchased a new stake in shares of iRhythm Technologies in the third quarter worth approximately $592,000. Harbor Capital Advisors Inc. boosted its holdings in shares of iRhythm Technologies by 272.0% during the third quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock worth $5,935,000 after purchasing an additional 58,448 shares during the period. WoodTrust Financial Corp grew its position in iRhythm Technologies by 28.4% during the third quarter. WoodTrust Financial Corp now owns 11,307 shares of the company’s stock valued at $839,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Assetmark Inc. increased its stake in iRhythm Technologies by 8.0% in the 3rd quarter. Assetmark Inc. now owns 12,645 shares of the company’s stock valued at $939,000 after buying an additional 937 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.