iRhythm Technologies (NASDAQ:IRTC) Reaches New 12-Month High - Still a Buy?

iRhythm Technologies (NASDAQ:IRTC - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $151.01 and last traded at $150.95, with a volume of 472443 shares trading hands. The stock had previously closed at $145.74.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IRTC. Needham & Company LLC boosted 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 boosted 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. Wells Fargo & Company upgraded shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. Morgan Stanley boosted their target price on shares of iRhythm Technologies from $130.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Finally, Citigroup boosted 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 analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $138.60.

iRhythm Technologies Stock Performance

The company has a debt-to-equity ratio of 7.47, a current ratio of 5.71 and a quick ratio of 5.58. The company's fifty day simple moving average is $136.39 and its two-hundred day simple moving average is $114.07. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of -49.27 and a beta of 1.40.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.06). iRhythm Technologies had a negative return on equity of 101.04% and a negative net margin of 15.90%. The business had revenue of $158.68 million for the quarter, compared to analyst estimates of $153.39 million. During the same quarter in the previous year, the company posted ($1.23) EPS. The business's quarterly revenue was up 20.3% on a year-over-year basis. On average, analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insider Transactions at iRhythm Technologies

In other news, insider Chad Patterson sold 936 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $150.00, for a total value of $140,400.00. Following the completion of the sale, the insider now owns 48,929 shares in the company, valued at $7,339,350. This represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daniel G. Wilson sold 3,000 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $150.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief financial officer now owns 40,307 shares of the company's stock, valued at approximately $6,046,050. The trade was a 6.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Institutional Trading of iRhythm Technologies

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in iRhythm Technologies by 30,928.6% during the first quarter. GAMMA Investing LLC now owns 8,688 shares of the company's stock valued at $909,000 after buying an additional 8,660 shares during the period. SG Americas Securities LLC grew its position in iRhythm Technologies by 95.6% during the first quarter. SG Americas Securities LLC now owns 8,427 shares of the company's stock valued at $882,000 after buying an additional 4,119 shares during the period. Invesco Ltd. grew its position in iRhythm Technologies by 1.1% during the fourth quarter. Invesco Ltd. now owns 19,200 shares of the company's stock valued at $1,731,000 after buying an additional 207 shares during the period. Bank of New York Mellon Corp grew its position 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 valued at $44,317,000 after buying an additional 92,591 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in iRhythm Technologies by 32.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,980 shares of the company's stock valued at $449,000 after buying an additional 1,215 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.