iRhythm Technologies (NASDAQ:IRTC) Reaches New 52-Week High - Still a Buy?

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

Wall Street Analyst Weigh In

IRTC has been the topic of several analyst reports. Citigroup raised their target price on iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. The Goldman Sachs Group lifted their price objective 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 decreased their target price on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Truist Financial lifted their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Wall Street Zen lowered shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $133.73.

iRhythm Technologies Stock Performance

The stock has a fifty day moving average price of $120.77 and a 200 day moving average price of $106.39. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of -39.90 and a beta of 1.34.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). The firm 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%. The business's quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.23) earnings per share. As a group, analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Stephens Investment Management Group LLC grew its position in iRhythm Technologies by 25.6% during the fourth quarter. Stephens Investment Management Group LLC now owns 502,925 shares of the company's stock worth $45,349,000 after buying an additional 102,600 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of iRhythm Technologies by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 570,048 shares of the company's stock worth $50,991,000 after purchasing an additional 50,075 shares in the last quarter. KBC Group NV increased its position in shares of iRhythm Technologies by 45.1% during the fourth quarter. KBC Group NV now owns 1,319 shares of the company's stock valued at $119,000 after purchasing an additional 410 shares during the period. Invesco Ltd. raised its stake in shares of iRhythm Technologies by 1.1% in the fourth quarter. Invesco Ltd. now owns 19,200 shares of the company's stock valued at $1,731,000 after purchasing an additional 207 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in iRhythm Technologies by 23.2% during the fourth quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company's stock worth $44,317,000 after buying an additional 92,591 shares in the last quarter.

iRhythm Technologies Company Profile

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.