iRhythm Technologies, Inc. (NASDAQ:IRTC) Given Consensus Rating of “Moderate Buy” by Brokerages

iRhythm Technologies, Inc. (NASDAQ:IRTC) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $109.27.

A number of analysts recently issued reports on IRTC shares. Truist Financial lifted their price target on shares of iRhythm Technologies from $85.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group assumed coverage on shares of iRhythm Technologies in a research report on Friday, October 4th. They issued a “neutral” rating and a $78.00 target price for the company. Needham & Company LLC reduced their price target on shares of iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Canaccord Genuity Group boosted their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th.

Insider Activity

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 16,145 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the transaction, the chief executive officer now directly owns 159,929 shares of the company’s stock, valued at $12,380,103.89. The trade was a 9.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Abhijit Y. Talwalkar purchased 6,664 shares of the company’s stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $75.16 per share, for a total transaction of $500,866.24. Following the purchase, the director now directly owns 18,941 shares of the company’s stock, valued at $1,423,605.56. This trade represents a 54.28 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of iRhythm Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its stake in shares of iRhythm Technologies by 79.6% in the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after purchasing an additional 277 shares in the last quarter. Arizona State Retirement System lifted its holdings in iRhythm Technologies by 3.4% in the second quarter. Arizona State Retirement System now owns 8,711 shares of the company’s stock worth $938,000 after purchasing an additional 287 shares during the period. Oppenheimer Asset Management Inc. grew its position in iRhythm Technologies by 6.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,909 shares of the company’s stock valued at $851,000 after buying an additional 482 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in iRhythm Technologies by 22.3% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company’s stock valued at $231,000 after buying an additional 567 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its stake in iRhythm Technologies by 27.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,512 shares of the company’s stock valued at $261,000 after buying an additional 754 shares during the period.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $89.37 on Friday. iRhythm Technologies has a 1-year low of $55.92 and a 1-year high of $124.11. The stock has a market cap of $2.80 billion, a P/E ratio of -18.39 and a beta of 1.26. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The firm has a 50-day moving average of $80.99 and a two-hundred day moving average of $81.12.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The business had revenue of $147.54 million for the quarter, compared to analyst estimates of $146.69 million. During the same quarter last year, the business earned ($0.89) EPS. iRhythm Technologies’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, research analysts expect that iRhythm Technologies will post -3.44 earnings per share for the current fiscal year.

iRhythm Technologies Company Profile

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.