iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Free Report)’s share price shot up 5.6% during mid-day trading on Friday . The company traded as high as $78.18 and last traded at $77.27. 238,867 shares traded hands during trading, a decline of 33% from the average session volume of 356,772 shares. The stock had previously closed at $73.15.
Wall Street Analyst Weigh In
A number of research firms have issued reports on IRTC. Truist Financial reduced their target price on shares of iRhythm Technologies from $155.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, August 7th. Citigroup reduced their target price on shares of iRhythm Technologies from $115.00 to $100.00 in a research note on Monday, October 2nd. Oppenheimer boosted their target price on shares of iRhythm Technologies from $125.00 to $165.00 in a research note on Friday, August 4th. Morgan Stanley reduced their target price on shares of iRhythm Technologies from $149.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, October 11th. Finally, Canaccord Genuity Group reduced their target price on shares of iRhythm Technologies from $136.00 to $116.00 and set a “buy” rating for the company in a research note on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.78.
Read Our Latest Stock Report on IRTC
iRhythm Technologies Trading Up 6.9 %
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.14. iRhythm Technologies had a negative net margin of 21.95% and a negative return on equity of 41.92%. The business had revenue of $124.13 million for the quarter, compared to the consensus estimate of $120.03 million. Equities analysts forecast that iRhythm Technologies, Inc. will post -3.18 earnings per share for the current fiscal year.
Institutional Trading of iRhythm Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Gravity Asset Management Inc. bought a new stake in shares of iRhythm Technologies in the 2nd quarter worth approximately $192,000. Carmel Capital Partners LLC purchased a new stake in shares of iRhythm Technologies in the 1st quarter valued at approximately $57,000. ETF Managers Group LLC purchased a new stake in shares of iRhythm Technologies in the 1st quarter valued at approximately $92,000. Point72 Hong Kong Ltd purchased a new stake in shares of iRhythm Technologies in the 2nd quarter valued at approximately $85,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of iRhythm Technologies by 70.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 950 shares of the company’s stock valued at $118,000 after acquiring an additional 394 shares in the last quarter.
iRhythm Technologies Company Profile
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
Featured Stories
- Five stocks we like better than iRhythm Technologies
- Space Investment: How to Invest in Space Exploration
- Is domestic travel back on track? Check out these companies
- What Are MATANA Stocks?
- MarketBeat Week in Review – 10/23 – 10/27
- ETF Screener: Uses and Step-by-Step Guide
- Can casino stocks win big if economy slows?
Receive News & Ratings for iRhythm Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iRhythm Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
