Brokerages Set iRhythm Technologies (NASDAQ:IRTC) Price Target at $206.43

iRhythm Technologies (NASDAQ:IRTC) has received a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $208.9286.

IRTC has been the topic of several analyst reports. The Goldman Sachs Group boosted their price target on shares of iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Morgan Stanley lifted their target price on iRhythm Technologies from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Loop Capital set a $220.00 price target on iRhythm Technologies in a research report on Friday, October 31st. Truist Financial decreased their price target on iRhythm Technologies from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Finally, JPMorgan Chase & Co. upped their price objective on iRhythm Technologies from $190.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st.

iRhythm Technologies Trading Up 5.2%

NASDAQ:IRTC opened at $184.39 on Tuesday. The company has a market cap of $5.94 billion, a P/E ratio of -114.53 and a beta of 1.12. iRhythm Technologies has a twelve month low of $86.99 and a twelve month high of $212.00. The business has a 50 day moving average price of $177.27 and a two-hundred day moving average price of $167.53. The company has a quick ratio of 4.50, a current ratio of 4.63 and a debt-to-equity ratio of 5.32.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.30. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 41.86%. The company had revenue of $192.88 million for the quarter, compared to the consensus estimate of $184.75 million. During the same period last year, the company earned ($1.26) earnings per share. The firm’s revenue was up 30.8% compared to the same quarter last year. As a group, analysts expect that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Insider Activity

In other iRhythm Technologies news, CFO Daniel G. Wilson sold 8,000 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $207.44, for a total value of $1,659,520.00. Following the completion of the sale, the chief financial officer owned 26,470 shares in the company, valued at $5,490,936.80. This trade represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chad Patterson sold 280 shares of iRhythm Technologies stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total transaction of $51,752.40. Following the completion of the transaction, the insider directly owned 43,387 shares of the company’s stock, valued at approximately $8,019,219.21. This trade represents a 0.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 24,817 shares of company stock valued at $4,741,235. 1.10% of the stock is owned by insiders.

Institutional Trading of iRhythm Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of iRhythm Technologies by 48.4% during the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after acquiring an additional 60 shares during the period. US Bancorp DE lifted its holdings in iRhythm Technologies by 7.8% during the 3rd quarter. US Bancorp DE now owns 1,042 shares of the company’s stock valued at $179,000 after purchasing an additional 75 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in iRhythm Technologies by 2.9% during the second quarter. Ameritas Investment Partners Inc. now owns 3,256 shares of the company’s stock worth $501,000 after purchasing an additional 93 shares during the period. Alliancebernstein L.P. increased its holdings in shares of iRhythm Technologies by 0.3% in the third quarter. Alliancebernstein L.P. now owns 37,489 shares of the company’s stock valued at $6,448,000 after purchasing an additional 95 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of iRhythm Technologies by 100.0% in the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after purchasing an additional 99 shares during the period.

About iRhythm Technologies

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.