iRhythm Technologies (NASDAQ:IRTC) Reaches New 12-Month High - Time to Buy?

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $147.96 and last traded at $147.48, with a volume of 318428 shares changing hands. The stock had previously closed at $146.68.

Analyst Ratings Changes

IRTC has been the subject of a number of recent analyst reports. Truist Financial upped their target price on iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Citigroup upped their price objective on shares of iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Morgan Stanley lifted their target price on shares of iRhythm Technologies from $130.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday. Needham & Company LLC boosted their target price on shares of iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Canaccord Genuity Group lowered their price target on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.45.

iRhythm Technologies Trading Down 1.3%

The firm has a market cap of $4.64 billion, a P/E ratio of -39.97 and a beta of 1.40. The company's 50 day moving average is $124.95 and its two-hundred day moving average is $108.88. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced 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 firm had revenue of $158.68 million during the quarter, compared to the consensus estimate of $153.39 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. iRhythm Technologies's revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.23) EPS. On average, sell-side analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Institutional Investors Weigh In On iRhythm Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cim Investment Management Inc. lifted its holdings in shares of iRhythm Technologies by 97.6% during the 1st 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 period. Rhumbline Advisers lifted its stake in iRhythm Technologies by 7.0% during the first quarter. Rhumbline Advisers now owns 45,946 shares of the company's stock worth $4,810,000 after purchasing an additional 2,995 shares during the period. Strs Ohio bought a new position in iRhythm Technologies during the first quarter worth about $147,000. Intech Investment Management LLC boosted its holdings in 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 in the last quarter. Finally, Bayforest Capital Ltd grew its stake in shares of iRhythm Technologies by 153.2% in the 1st 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.

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.