iRhythm Technologies (NASDAQ:IRTC) Receives $186.62 Consensus PT from Brokerages

iRhythm Technologies (NASDAQ:IRTC) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $186.6154.

A number of analysts have recently commented on IRTC shares. Wall Street Zen upgraded shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a report on Saturday. HC Wainwright reissued a “buy” rating on shares of iRhythm Technologies in a research note on Monday, June 1st. Bank of America dropped their target price on iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Wells Fargo & Company cut their price objective 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. Finally, Truist Financial reduced their price objective on shares of iRhythm Technologies from $174.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, July 16th.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $111.37 on Friday. The company has a quick ratio of 4.98, a current ratio of 5.17 and a debt-to-equity ratio of 4.03. The firm’s fifty day simple moving average is $114.17 and its 200 day simple moving average is $129.89. The stock has a market cap of $3.66 billion, a P/E ratio of -129.50 and a beta of 1.27. iRhythm Technologies has a twelve month low of $100.85 and a twelve month high of $212.00.

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

Insider Buying and Selling at iRhythm Technologies

In related news, Director Abhijit Y. Talwalkar purchased 5,312 shares of iRhythm Technologies stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $10.71 per share, for a total transaction of $56,891.52. Following the completion of the purchase, the director directly owned 25,611 shares of the company’s stock, valued at $274,293.81. The trade was a 26.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On iRhythm Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after buying an additional 60 shares in the last quarter. Ascent Group LLC grew its holdings in iRhythm Technologies by 0.7% during the 4th quarter. Ascent Group LLC now owns 9,587 shares of the company’s stock valued at $1,701,000 after buying an additional 70 shares in the last quarter. WoodTrust Financial Corp increased its stake in iRhythm Technologies by 0.7% in the 4th quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock worth $1,787,000 after acquiring an additional 70 shares during the last quarter. US Bancorp DE increased its stake in iRhythm Technologies by 7.8% in the 3rd quarter. US Bancorp DE now owns 1,042 shares of the company’s stock worth $179,000 after acquiring an additional 75 shares during the last quarter. Finally, State of Wyoming boosted its position in shares of iRhythm Technologies by 16.0% during the 4th quarter. State of Wyoming now owns 616 shares of the company’s stock valued at $109,000 after acquiring an additional 85 shares during the last quarter.

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.