Is Buying 52-Week Stock Like iRhythm Technologies, Inc. (IRTC) a Winning Strategy?

May 22, 2018 - By Marry Poplack

The stock of iRhythm Technologies, Inc. (NASDAQ:IRTC) hit a new 52-week high and has $73.37 target or 6.00 % above today’s $69.22 share price. The 9 months bullish chart indicates low risk for the $1.63B company. The 1-year high was reported on May, 22 by Barchart.com. If the $73.37 price target is reached, the company will be worth $98.04M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.36% or $0.25 during the last trading session, reaching $69.22. About 112,073 shares traded. iRhythm Technologies, Inc. (NASDAQ:IRTC) has risen 69.09% since May 22, 2017 and is uptrending. It has outperformed by 57.54% the S&P500.

Analysts await iRhythm Technologies, Inc. (NASDAQ:IRTC) to report earnings on August, 1. They expect $-0.41 EPS, down 41.38 % or $0.12 from last year’s $-0.29 per share. After $-0.47 actual EPS reported by iRhythm Technologies, Inc. for the previous quarter, Wall Street now forecasts -12.77 % EPS growth.

More notable recent iRhythm Technologies, Inc. (NASDAQ:IRTC) news were published by: Streetinsider.com which released: “Lakewood Capital Sees 70% Downside in iRhythm Technologies (IRTC)” on April 24, 2018, also Benzinga.com with their article: “Benzinga’s Daily Biotech Pulse: ARMO Skyrockets On Eli Lilly Deal, Akcea Meets FDA Panel, vTv Alzheimer’s Trial …” published on May 10, 2018, Nasdaq.com published: “JAMA Cardiology publishes RHYTHM Study Revealing Link Between Total AF Burden and Stroke Risk” on May 16, 2018. More interesting news about iRhythm Technologies, Inc. (NASDAQ:IRTC) were released by: Streetinsider.com and their article: “iRhythm Technologies (IRTC) Says JAMA Cardiology published RHYTHM Study Revealing Link Between Total AF …” published on May 16, 2018 as well as Seekingalpha.com‘s news article titled: “iRhythm Technologies’ (IRTC) CEO Kevin King on Q1 2018 Results – Earnings Call Transcript” with publication date: May 05, 2018.

iRhythm Technologies, Inc., a digital healthcare company, focuses on the provision of ambulatory electrocardiogram, or ECG, monitoring for patients at risk for arrhythmias in the United States. The company has market cap of $1.63 billion. It offers ZIO Service, a platform that provides wearable biosensor with cloud data analytics that distill data from heartbeats into clinically actionable information. It currently has negative earnings.

iRhythm Technologies, Inc. (NASDAQ:IRTC) Ratings Chart

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