iRhythm Technologies (NASDAQ:IRTC) Receives $187.38 Average PT from Brokerages

Shares of iRhythm Technologies (NASDAQ:IRTC) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $187.3846.

A number of research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating on shares of iRhythm Technologies in a research report on Monday, June 1st. JPMorgan Chase & Co. reduced their target price on shares of iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Wells Fargo & Company reduced their target price on shares of iRhythm Technologies from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Bank of America reduced their target price on shares of iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $185.00 target price on shares of iRhythm Technologies in a research report on Monday.

Insider Buying and Selling

In other news, Director Abhijit Y. Talwalkar acquired 5,312 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average cost of $10.71 per share, with a total value of $56,891.52. Following the transaction, the director owned 25,611 shares of the company’s stock, valued at $274,293.81. This trade represents a 26.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.98% of the company’s stock.

Institutional Trading of iRhythm Technologies

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

iRhythm Technologies Stock Up 3.1%

Shares of iRhythm Technologies stock opened at $115.99 on Tuesday. The company has a current ratio of 5.17, a quick ratio of 4.98 and a debt-to-equity ratio of 4.03. The company’s fifty day simple moving average is $115.27 and its two-hundred day simple moving average is $136.38. The company has a market cap of $3.81 billion, a P/E ratio of -134.87 and a beta of 1.27. iRhythm Technologies has a 12-month low of $100.85 and a 12-month high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.21. The business had revenue of $199.39 million for the quarter, compared to the consensus estimate of $194.11 million. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.97) EPS. Research analysts anticipate that iRhythm Technologies will post 0.13 EPS for the current year.

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.