iRhythm Technologies (NASDAQ:IRTC) Given New $151.00 Price Target at Needham & Company LLC

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) had its price objective upped by analysts at Needham & Company LLC from $138.00 to $151.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price would suggest a potential upside of 15.16% from the company's previous close.

Several other research analysts have also recently commented on the company. Wells Fargo & Company boosted their target price on iRhythm Technologies from $86.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Friday, February 21st. Truist Financial boosted their price objective on iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. The Goldman Sachs Group raised their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a report on Monday, February 24th. Oppenheimer boosted their price target on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 8th. Finally, StockNews.com raised shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $128.55.

iRhythm Technologies Trading Up 20.7 %

NASDAQ:IRTC traded up $22.53 on Friday, reaching $131.12. 2,131,857 shares of the company's stock were exchanged, compared to its average volume of 463,778. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of -36.02 and a beta of 1.34. iRhythm Technologies has a 52-week low of $55.92 and a 52-week high of $133.20. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The business has a fifty day moving average of $104.12 and a 200-day moving average of $96.91.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its earnings results 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 118.83% and a negative net margin of 19.14%. The business had revenue of $158.68 million for the quarter, compared to analysts' expectations of $153.39 million. During the same period in the previous year, the company earned ($1.23) earnings per share. iRhythm Technologies's quarterly revenue was up 20.3% on a year-over-year basis. As a group, analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current year.

Institutional Investors Weigh In On iRhythm Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC grew its holdings in shares of iRhythm Technologies by 54.3% during the first quarter. CWM LLC now owns 517 shares of the company's stock worth $54,000 after purchasing an additional 182 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in iRhythm Technologies by 3.5% during the 1st quarter. Stephens Investment Management Group LLC now owns 520,582 shares of the company's stock worth $54,495,000 after buying an additional 17,657 shares during the last quarter. Stephens Inc. AR purchased a new position in iRhythm Technologies during the 1st quarter worth approximately $222,000. New York State Common Retirement Fund increased its position in iRhythm Technologies by 26.1% during the first quarter. New York State Common Retirement Fund now owns 160,886 shares of the company's stock worth $16,842,000 after buying an additional 33,307 shares during the period. Finally, Caas Capital Management LP purchased a new stake in iRhythm Technologies in the first quarter valued at approximately $262,000.

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.