iRhythm Technologies (NASDAQ:IRTC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of iRhythm Technologies (NASDAQ:IRTC) have earned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $191.8462.

Several research firms have issued reports on IRTC. Wall Street Zen raised shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, May 3rd. Truist Financial decreased their price target on shares of iRhythm Technologies from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Citigroup boosted their price target on iRhythm Technologies from $155.00 to $157.00 and gave the company a “buy” rating in a report on Monday, May 4th. Weiss Ratings restated a “sell (d-)” rating on shares of iRhythm Technologies in a report on Tuesday, April 21st. Finally, Wells Fargo & Company decreased their target price on iRhythm Technologies from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, May 1st.

Insider Transactions at iRhythm Technologies

In other news, CAO Marc Wade Rosenbaum sold 816 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $128.45, for a total value of $104,815.20. Following the completion of the sale, the chief accounting officer owned 16,706 shares in the company, valued at approximately $2,145,885.70. The trade was a 4.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mervin Smith sold 1,352 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $128.44, for a total transaction of $173,650.88. Following the completion of the sale, the executive vice president directly owned 25,612 shares of the company’s stock, valued at $3,289,605.28. The trade was a 5.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,826 shares of company stock valued at $2,289,620 over the last three months. 0.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On iRhythm Technologies

Several institutional investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new stake in iRhythm Technologies during the third quarter worth $3,439,800,000. Vanguard Group Inc. boosted its position in 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 in the last quarter. RTW Investments LP purchased a new position in shares of iRhythm Technologies in the 4th quarter valued at $209,732,000. Geode Capital Management LLC raised its position 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 worth $152,337,000 after acquiring an additional 68,301 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of iRhythm Technologies by 45.6% in 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 acquiring an additional 259,800 shares in the last quarter.

iRhythm Technologies Stock Up 3.8%

Shares of IRTC opened at $115.61 on Friday. The firm has a market capitalization of $3.80 billion, a P/E ratio of -134.43 and a beta of 1.33. iRhythm Technologies has a 12-month low of $108.81 and a 12-month high of $212.00. 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 firm has a fifty day moving average price of $118.90 and a 200-day moving average price of $146.07.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results 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 company had revenue of $199.39 million for the quarter, compared to the consensus estimate of $194.11 million. During the same quarter last year, the firm posted ($0.97) EPS. The firm’s revenue was up 25.6% compared to the same quarter last year. Equities research analysts expect that iRhythm Technologies will post 0.13 earnings per share for the current 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.