iRhythm Technologies (NASDAQ:IRTC) Shares Gap Up – Still a Buy?

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) gapped up before the market opened on Monday . The stock had previously closed at $100.67, but opened at $103.89. iRhythm Technologies shares last traded at $100.40, with a volume of 10,786 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IRTC. Needham & Company LLC lifted their target price on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a report on Friday, February 21st. Wells Fargo & Company lifted their target price on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. The Goldman Sachs Group lifted 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 lifted their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Finally, Canaccord Genuity Group lifted their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.73.

iRhythm Technologies Stock Performance

The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The firm has a market cap of $3.19 billion, a P/E ratio of -27.93 and a beta of 1.36. The business’s 50-day simple moving average is $107.20 and its 200 day simple moving average is $88.17.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.30. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The business had revenue of $164.33 million during the quarter, compared to the consensus estimate of $158.30 million. As a group, equities analysts predict that iRhythm Technologies, Inc. will post -1.98 earnings per share for the current year.

Institutional Investors Weigh In On iRhythm Technologies

Large investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in iRhythm Technologies in the 4th quarter worth approximately $45,000. Van ECK Associates Corp grew its position in shares of iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after acquiring an additional 162 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of iRhythm Technologies during the 4th quarter valued at $60,000. Quarry LP bought a new stake in shares of iRhythm Technologies during the 3rd quarter valued at $59,000. Finally, Nisa Investment Advisors LLC grew its position in shares of iRhythm Technologies by 166.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock valued at $94,000 after acquiring an additional 648 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.