Analysts Set iRhythm Technologies (NASDAQ:IRTC) PT at $219.23

iRhythm Technologies (NASDAQ:IRTC) has been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eleven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $211.6154.

IRTC has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Thursday, January 22nd. Needham & Company LLC reissued a “buy” rating and set a $244.00 price target on shares of iRhythm Technologies in a research note on Monday, January 12th. Freedom Capital upgraded iRhythm Technologies to a “strong-buy” rating in a report on Thursday, January 15th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $200.00 price objective (down from $215.00) on shares of iRhythm Technologies in a research report on Friday.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,478 shares of iRhythm Technologies stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total value of $458,008.74. Following the completion of the sale, the insider owned 53,281 shares in the company, valued at $9,847,927.23. The trade was a 4.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chad Patterson sold 280 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total transaction of $51,752.40. Following the transaction, the insider owned 43,387 shares in the company, valued at approximately $8,019,219.21. The trade was a 0.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,070 shares of company stock worth $1,283,720 in the last 90 days. 0.68% of the stock is owned by company insiders.

Institutional Trading of iRhythm Technologies

Several institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL purchased a new position in shares of iRhythm Technologies in the 3rd quarter worth $3,439,800,000. Vanguard Group Inc. increased its stake in iRhythm Technologies by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,310,519 shares of the company’s stock worth $587,418,000 after acquiring an additional 70,420 shares during the last quarter. RTW Investments LP purchased a new position in shares of iRhythm Technologies in the 4th quarter worth about $209,732,000. Geode Capital Management LLC lifted its stake in shares of iRhythm Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 858,405 shares of the company’s stock valued at $152,337,000 after purchasing an additional 68,301 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of iRhythm Technologies by 45.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 829,862 shares of the company’s stock worth $147,251,000 after purchasing an additional 259,800 shares during the period.

iRhythm Technologies Stock Performance

iRhythm Technologies stock opened at $137.10 on Wednesday. iRhythm Technologies has a fifty-two week low of $92.52 and a fifty-two week high of $212.00. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of -97.93 and a beta of 1.06. The stock has a fifty day moving average of $163.48 and a two-hundred day moving average of $171.19. The company has a debt-to-equity ratio of 4.25, a quick ratio of 4.48 and a current ratio of 4.63.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.27. The business had revenue of $208.89 million for the quarter, compared to analyst estimates of $202.61 million. iRhythm Technologies had a negative return on equity of 28.15% and a negative net margin of 5.96%.The business’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) earnings per share. On average, analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

iRhythm Technologies Company Profile

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.