iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives $113.90 Consensus Target Price from Analysts

iRhythm Technologies, Inc. (NASDAQ:IRTC) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $108.50.

IRTC has been the subject of several recent research reports. Citigroup lowered their target price on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Needham & Company LLC decreased their target price on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Oppenheimer decreased their price objective on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Truist Financial lifted their price objective on iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday, September 27th.

iRhythm Technologies Trading Up 8.5 %

NASDAQ:IRTC opened at $81.44 on Thursday. The stock has a fifty day moving average price of $69.48 and a two-hundred day moving average price of $84.64. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $124.11. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.76 and a current ratio of 6.27. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -16.76 and a beta of 1.23.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The business had revenue of $147.54 million for the quarter, compared to analyst estimates of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. iRhythm Technologies’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.89) EPS. As a group, sell-side analysts anticipate that iRhythm Technologies will post -2.66 earnings per share for the current fiscal year.

Insider Activity

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction on Friday, August 9th. The shares were sold at an average price of $70.34, for a total transaction of $96,506.48. Following the sale, the chief financial officer now owns 24,428 shares in the company, valued at $1,718,265.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On iRhythm Technologies

Institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D grew its holdings in iRhythm Technologies by 32.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 28,414 shares of the company’s stock worth $2,109,000 after acquiring an additional 6,975 shares during the last quarter. Assetmark Inc. grew its stake in shares of iRhythm Technologies by 8.0% during the third quarter. Assetmark Inc. now owns 12,645 shares of the company’s stock valued at $939,000 after purchasing an additional 937 shares during the last quarter. WoodTrust Financial Corp increased its holdings in shares of iRhythm Technologies by 28.4% in the third quarter. WoodTrust Financial Corp now owns 11,307 shares of the company’s stock valued at $839,000 after purchasing an additional 2,500 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in iRhythm Technologies by 272.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock worth $5,935,000 after purchasing an additional 58,448 shares during the last quarter. Finally, SteelPeak Wealth LLC acquired a new position in iRhythm Technologies during the 3rd quarter worth $592,000.

About iRhythm Technologies

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.