Brokerages Set iRhythm Technologies, Inc. (NASDAQ:IRTC) PT at $128.55

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $133.73.

A number of equities research analysts have commented on the stock. Wall Street Zen lowered shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. The Goldman Sachs Group raised their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a research note on Monday, February 24th. Canaccord Genuity Group reduced their target price on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC raised their target price on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company raised shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $104.00 to $130.00 in a research note on Friday, May 2nd.

iRhythm Technologies Price Performance

NASDAQ:IRTC traded up $0.25 during mid-day trading on Monday, reaching $142.69. 346,959 shares of the company were exchanged, compared to its average volume of 475,915. iRhythm Technologies has a 12 month low of $55.92 and a 12 month high of $143.88. The company has a fifty day moving average of $114.71 and a 200 day moving average of $103.28. 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 cap of $4.56 billion, a PE ratio of -39.20 and a beta of 1.34.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The company had revenue of $158.68 million for the quarter, compared to the consensus estimate of $153.39 million. During the same period in the prior year, the company earned ($1.23) EPS. The firm's revenue was up 20.3% compared to the same quarter last year. On average, research analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Institutional Trading of iRhythm Technologies

A number of hedge funds have recently modified their holdings of IRTC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of iRhythm Technologies by 169.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company's stock valued at $94,535,000 after acquiring an additional 568,261 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of iRhythm Technologies in the 1st quarter valued at approximately $54,249,000. First Light Asset Management LLC acquired a new stake in shares of iRhythm Technologies in the 4th quarter valued at approximately $38,818,000. Millennium Management LLC raised its position in shares of iRhythm Technologies by 563.8% in the 1st quarter. Millennium Management LLC now owns 399,746 shares of the company's stock valued at $41,845,000 after acquiring an additional 339,529 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of iRhythm Technologies by 111.7% in the 4th quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock valued at $51,217,000 after acquiring an additional 299,726 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.