iRhythm Technologies (NASDAQ:IRTC) Sets New 1-Year High - What's Next?

iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $146.90 and last traded at $146.70, with a volume of 117058 shares trading hands. The stock had previously closed at $140.65.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a research report on Monday, February 24th. Wall Street Zen lowered shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Needham & Company LLC lifted their target price on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Robert W. Baird lifted their target price on shares of iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Citigroup lifted their target price on shares of iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, iRhythm Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.73.

iRhythm Technologies Price Performance

The stock's fifty day moving average price is $122.38 and its 200-day moving average price is $107.59. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The firm has a market cap of $4.68 billion, a PE ratio of -40.30 and a beta of 1.40.

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). The business had revenue of $158.68 million during the quarter, compared to analyst estimates of $153.39 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. iRhythm Technologies's revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.23) earnings per share. As a group, equities analysts forecast that iRhythm Technologies, Inc. will post -1.98 EPS for the current fiscal year.

Institutional Investors Weigh In On iRhythm Technologies

Hedge funds have recently modified their holdings of the company. Cim Investment Management Inc. boosted its position in shares of iRhythm Technologies by 97.6% in the first quarter. Cim Investment Management Inc. now owns 11,530 shares of the company's stock worth $1,122,000 after acquiring an additional 5,696 shares during the last quarter. Rhumbline Advisers raised its holdings in iRhythm Technologies by 7.0% in the first quarter. Rhumbline Advisers now owns 45,946 shares of the company's stock valued at $4,810,000 after buying an additional 2,995 shares during the period. Strs Ohio purchased a new position in iRhythm Technologies in the first quarter valued at approximately $147,000. Intech Investment Management LLC raised its stake in shares of iRhythm Technologies by 17.1% during the first quarter. Intech Investment Management LLC now owns 17,484 shares of the company's stock valued at $1,830,000 after purchasing an additional 2,557 shares during the period. Finally, Bayforest Capital Ltd raised its stake in shares of iRhythm Technologies by 153.2% during the first quarter. Bayforest Capital Ltd now owns 4,213 shares of the company's stock valued at $441,000 after purchasing an additional 2,549 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.