iRhythm Technologies (NASDAQ:IRTC) Stock Price Up 2.5% After Analyst Upgrade
iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Free Report)’s stock price shot up 2.5% during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $100.00 to $115.00. Truist Financial currently has a buy rating on the stock. iRhythm Technologies traded as high as $91.71 and last traded at $91.35. 36,858 shares traded hands during trading, a decline of 90% from the average session volume of 359,158 shares. The stock had previously closed at $89.10.
Several other equities analysts have also recently weighed in on IRTC. StockNews.com cut shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Morgan Stanley decreased their price objective on shares of iRhythm Technologies from $149.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, October 11th. Canaccord Genuity Group lowered their target price on shares of iRhythm Technologies from $136.00 to $116.00 and set a “buy” rating for the company in a research note on Monday, August 28th. Needham & Company LLC reduced their price target on shares of iRhythm Technologies from $140.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Finally, Citigroup raised shares of iRhythm Technologies from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Monday. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and a consensus price target of $129.89.
Institutional Investors Weigh In On iRhythm Technologies
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in iRhythm Technologies by 1.1% in the third quarter. Vanguard Group Inc. now owns 2,779,425 shares of the company’s stock worth $348,205,000 after acquiring an additional 30,761 shares in the last quarter. BlackRock Inc. grew its stake in iRhythm Technologies by 4.6% in the 2nd quarter. BlackRock Inc. now owns 2,373,248 shares of the company’s stock valued at $247,577,000 after acquiring an additional 104,541 shares during the period. Capital Research Global Investors lifted its stake in iRhythm Technologies by 30.9% in the 2nd quarter. Capital Research Global Investors now owns 2,288,461 shares of the company’s stock valued at $238,732,000 after buying an additional 539,610 shares in the last quarter. FMR LLC lifted its position in shares of iRhythm Technologies by 40,606.5% in the first quarter. FMR LLC now owns 2,252,698 shares of the company’s stock valued at $279,402,000 after acquiring an additional 2,247,164 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of iRhythm Technologies by 22.5% during the third quarter. Artisan Partners Limited Partnership now owns 1,962,625 shares of the company’s stock worth $184,997,000 after buying an additional 359,908 shares in the last quarter.
iRhythm Technologies Stock Performance
The company has a market cap of $2.86 billion, a PE ratio of -26.73 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.16 and a current ratio of 2.29. The firm’s 50 day moving average is $82.70 and its 200-day moving average is $95.49.
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.24). The firm had revenue of $124.60 million for the quarter, compared to analyst estimates of $122.46 million. iRhythm Technologies had a negative return on equity of 46.35% and a negative net margin of 22.19%. On average, research analysts anticipate that iRhythm Technologies, Inc. will post -3.25 earnings per share for the current fiscal year.
iRhythm Technologies Company Profile (Get Free Report)
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
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Original: MarketBeat News Feed: iRhythm Technologies (NASDAQ:IRTC) Stock Price Up 2.5% After Analyst Upgrade