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

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a report released on Monday.

Several other research analysts have also issued reports on IRTC. Robert W. Baird reduced their target price on iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Truist Financial increased their price objective on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Canaccord Genuity Group boosted their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Needham & Company LLC raised their price target on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Oppenheimer lifted their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $119.73.

iRhythm Technologies Stock Up 3.4 %

Shares of iRhythm Technologies stock traded up $3.59 on Monday, reaching $110.16. The stock had a trading volume of 538,953 shares, compared to its average volume of 468,078. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The stock has a market capitalization of $3.46 billion, a P/E ratio of -30.26 and a beta of 1.29. The company has a 50 day moving average price of $104.04 and a 200 day moving average price of $85.07. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $128.52.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, topping 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 business had revenue of $164.33 million for the quarter, compared to analyst estimates of $158.30 million. As a group, equities research analysts forecast that iRhythm Technologies will post -1.98 EPS for the current year.

Insider Activity

In other 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 completion of the transaction, the insider now directly owns 35,327 shares of the company's stock, valued at $3,034,236.03. The trade was a 6.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.68% of the company's stock.

Institutional Trading of iRhythm Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRTC. Ascent Group LLC raised its position in shares of iRhythm Technologies by 13.0% during the 4th quarter. Ascent Group LLC now owns 8,110 shares of the company's stock worth $731,000 after purchasing an additional 935 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in shares of iRhythm Technologies in the fourth quarter valued at approximately $60,000. ProShare Advisors LLC boosted its stake in shares of iRhythm Technologies by 52.1% in the fourth quarter. ProShare Advisors LLC now owns 8,988 shares of the company's stock worth $810,000 after acquiring an additional 3,079 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of iRhythm Technologies in the fourth quarter worth approximately $488,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in iRhythm Technologies by 5.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,349 shares of the company's stock valued at $3,097,000 after purchasing an additional 1,743 shares during 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.