iRhythm Technologies (NASDAQ:IRTC) Lifted to “Buy” at BTIG Research

BTIG Research upgraded shares of iRhythm Technologies (NASDAQ:IRTC) from a neutral rating to a buy rating in a research report report published on Wednesday morning, Analyst Price Targets reports. BTIG Research currently has $170.00 price objective on the stock.

Several other analysts also recently weighed in on the company. Citigroup upgraded iRhythm Technologies from a neutral rating to a buy rating and set a $120.00 price objective for the company in a report on Wednesday, December 15th. JPMorgan Chase & Co. upgraded iRhythm Technologies from a neutral rating to an overweight rating and lifted their target price for the company from $100.00 to $116.00 in a research note on Friday, December 17th. Morgan Stanley lifted their target price on iRhythm Technologies from $114.00 to $129.00 and gave the company an equal weight rating in a research note on Friday, January 7th. Oppenheimer upgraded iRhythm Technologies from a market perform rating to an outperform rating and set a $150.00 price target on the stock in a research note on Tuesday. Finally, Zacks Investment Research upgraded iRhythm Technologies from a sell rating to a hold rating in a research note on Tuesday, October 19th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Buy and a consensus price target of $155.92.

NASDAQ:IRTC opened at $141.10 on Wednesday. iRhythm Technologies has a twelve month low of $41.66 and a twelve month high of $286.19. The stock has a fifty day simple moving average of $107.87 and a 200-day simple moving average of $75.66. The company has a current ratio of 3.93, a quick ratio of 3.81 and a debt-to-equity ratio of 0.04.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, November 4th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($1.09) by $0.28. The firm had revenue of $85.43 million during the quarter, compared to the consensus estimate of $83.65 million. iRhythm Technologies had a negative return on equity of 25.06% and a negative net margin of 24.55%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) earnings per share. Research analysts forecast that iRhythm Technologies will post -3.58 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. lifted its holdings in iRhythm Technologies by 190.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 435 shares of the company’s stock valued at $29,000 after acquiring an additional 285 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of iRhythm Technologies by 625.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 537 shares of the company’s stock worth $30,000 after buying an additional 463 shares during the period. First Horizon Advisors Inc. raised its stake in shares of iRhythm Technologies by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 554 shares of the company’s stock worth $44,000 after buying an additional 170 shares during the period. Fieldpoint Private Securities LLC raised its stake in shares of iRhythm Technologies by 65.7% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,377 shares of the company’s stock worth $66,000 after buying an additional 546 shares during the period. Finally, Ancora Advisors LLC raised its stake in shares of iRhythm Technologies by 232.6% during the 2nd quarter. Ancora Advisors LLC now owns 1,430 shares of the company’s stock worth $95,000 after buying an additional 1,000 shares during the period. 94.17% of the stock is owned by institutional investors.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It offers Zio XT, is a wearable patch-based biosensor, continuously records, and stores ECG data from every patient heartbeat for up to 14 consecutive days; and Zio AT, also provides ECG data but also provides physicians with actionable notifications during the wear period.

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Analyst Recommendations for iRhythm Technologies (NASDAQ:IRTC)

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