iRhythm Technologies (NASDAQ:IRTC) Sets New 12-Month High - Should You Buy?

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IRTC shares. Citigroup upped their price objective on iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Needham & Company LLC increased their target price on iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wall Street Zen cut shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Morgan Stanley increased 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, Robert W. Baird boosted their price target 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. One research 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.60.

iRhythm Technologies Stock Up 3.6%

The company has a debt-to-equity ratio of 7.47, a quick ratio of 5.58 and a current ratio of 5.71. The business has a 50-day simple moving average of $132.19 and a two-hundred day simple moving average of $112.57. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of -48.07 and a beta of 1.40.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) earnings per share 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 analysts' expectations of $153.39 million. iRhythm Technologies had a negative net margin of 15.90% and a negative return on equity of 101.04%. iRhythm Technologies's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.23) EPS. As a group, equities analysts predict that iRhythm Technologies will post -1.98 EPS for the current year.

Institutional Investors Weigh In On iRhythm Technologies

Several institutional investors and hedge funds have recently made changes to their positions in IRTC. Xponance Inc. lifted its holdings in shares of iRhythm Technologies by 6.1% in the first quarter. Xponance Inc. now owns 2,390 shares of the company's stock valued at $250,000 after purchasing an additional 137 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of iRhythm Technologies by 3.1% in the first quarter. Hsbc Holdings PLC now owns 4,590 shares of the company's stock worth $474,000 after acquiring an additional 138 shares during the last quarter. Van ECK Associates Corp increased its position in iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after purchasing an additional 162 shares in the last quarter. CWM LLC increased its position in iRhythm Technologies by 54.3% during the 1st quarter. CWM LLC now owns 517 shares of the company's stock worth $54,000 after purchasing an additional 182 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG raised its stake in iRhythm Technologies by 5.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock valued at $297,000 after purchasing an additional 184 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.