iRhythm Technologies (NASDAQ:IRTC) Receives Average Rating of “Moderate Buy” from Analysts

iRhythm Technologies (NASDAQ:IRTC) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twelve have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $186.6154.

IRTC has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating on shares of iRhythm Technologies in a research note on Monday, June 1st. Citigroup increased their price target on shares of iRhythm Technologies from $155.00 to $157.00 and gave the company a “buy” rating in a report on Monday, May 4th. The Goldman Sachs Group dropped their price target on iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Truist Financial dropped their price target on iRhythm Technologies from $174.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Finally, BTIG Research reissued a “buy” rating and set a $185.00 price objective on shares of iRhythm Technologies in a research note on Monday, June 22nd.

Insider Activity at iRhythm Technologies

In related news, Director Abhijit Y. Talwalkar bought 5,312 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $10.71 per share, with a total value of $56,891.52. Following the transaction, the director owned 25,611 shares in the company, valued at $274,293.81. This trade represents a 26.17% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.

Hedge Funds Weigh In On iRhythm Technologies

Hedge funds have recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC purchased a new position in iRhythm Technologies during the 3rd quarter valued at about $30,000. GAMMA Investing LLC increased its position in iRhythm Technologies by 48.4% during the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after buying an additional 60 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of iRhythm Technologies in the 3rd quarter valued at approximately $34,000. Employees Retirement System of Texas purchased a new position in shares of iRhythm Technologies in the third quarter worth $36,000. Finally, Torren Management LLC acquired a new stake in iRhythm Technologies during the 4th quarter worth about $53,000.

iRhythm Technologies Stock Performance

NASDAQ IRTC opened at $106.07 on Friday. The company has a debt-to-equity ratio of 4.03, a current ratio of 5.17 and a quick ratio of 4.98. iRhythm Technologies has a 1-year low of $100.85 and a 1-year high of $212.00. The business has a 50 day simple moving average of $113.81 and a two-hundred day simple moving average of $128.90. The stock has a market capitalization of $3.49 billion, a PE ratio of -123.34 and a beta of 1.27.

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, topping the consensus estimate of ($0.56) by $0.21. iRhythm Technologies had a negative return on equity of 10.26% and a negative net margin of 3.53%.The business had revenue of $199.39 million for the quarter, compared to analysts’ expectations of $194.11 million. During the same period in the prior year, the firm earned ($0.97) EPS. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, research analysts predict that iRhythm Technologies will post 0.13 EPS for the current fiscal 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.