iRhythm Technologies (NASDAQ:IRTC) Shares Gap Up - What's Next?

iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $62.10, but opened at $70.11. iRhythm Technologies shares last traded at $72.78, with a volume of 439,491 shares trading hands.

Wall Street Analyst Weigh In

IRTC has been the topic of a number of research reports. Citigroup dropped their target price on shares of iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Truist Financial upped their price objective on shares of iRhythm Technologies from $80.00 to $95.00 and gave the company a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on iRhythm Technologies from $133.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC cut their price target on iRhythm Technologies from $138.00 to $119.00 and set a "buy" rating for the company in a report on Friday, August 2nd. Finally, Oppenheimer cut their target price on iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, iRhythm Technologies has an average rating of "Moderate Buy" and a consensus price target of $113.90.

iRhythm Technologies Stock Up 21.7 %

The stock has a market capitalization of $2.35 billion, a P/E ratio of -17.87 and a beta of 1.22. The company has a current ratio of 6.92, a quick ratio of 6.76 and a debt-to-equity ratio of 6.50. The firm's fifty day moving average is $68.13 and its 200-day moving average is $86.93.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.89) by $0.28. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 84.14%. The company had revenue of $148.05 million during the quarter, compared to analysts' expectations of $146.15 million. During the same quarter in the previous year, the company posted ($0.61) earnings per share. iRhythm Technologies's quarterly revenue was up 19.3% compared to the same quarter last year. As a group, equities research analysts predict that iRhythm Technologies, Inc. will post -2.66 earnings per share for the current year.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of the business's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the transaction, the chief financial officer now directly owns 24,428 shares of the company's stock, valued at approximately $1,718,265.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Brice Bobzien sold 1,372 shares of the business's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the sale, the chief financial officer now owns 24,428 shares in the company, valued at $1,718,265.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mervin Smith sold 688 shares of the firm's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $51,366.08. Following the completion of the transaction, the executive vice president now owns 10,360 shares in the company, valued at approximately $773,477.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,072 shares of company stock valued at $372,748 over the last ninety days. 0.68% of the stock is owned by insiders.

Institutional Trading of iRhythm Technologies

Institutional investors have recently bought and sold shares of the business. Sei Investments Co. boosted its position in shares of iRhythm Technologies by 7.0% in the 1st quarter. Sei Investments Co. now owns 235,361 shares of the company's stock worth $27,302,000 after purchasing an additional 15,381 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in iRhythm Technologies during the first quarter worth about $1,925,000. Capstone Investment Advisors LLC acquired a new position in shares of iRhythm Technologies during the 1st quarter worth about $1,078,000. Assenagon Asset Management S.A. increased its stake in shares of iRhythm Technologies by 361.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 48,962 shares of the company's stock valued at $5,270,000 after acquiring an additional 38,344 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of iRhythm Technologies in the 1st quarter valued at approximately $58,311,000.

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.