iRhythm Technologies (NASDAQ:IRTC) Stock Has Consensus Target Price of $179.93 According to Analysts

Shares of iRhythm Technologies (NASDAQ:IRTC) have earned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twelve have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $179.93.

A number of equities research analysts have commented on IRTC shares. BTIG Research restated a “buy” rating and set a $185.00 target price on shares of iRhythm Technologies in a research note on Monday, June 22nd. Wall Street Zen upgraded shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Monday, September 14th. Truist Financial raised their price objective on shares of iRhythm Technologies from $160.00 to $168.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company lowered their target price on shares of iRhythm Technologies from $180.00 to $168.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 18th.

iRhythm Technologies Trading Down 0.6%

Shares of IRTC stock opened at $110.37 on Thursday. The company has a debt-to-equity ratio of 3.50, a current ratio of 3.86 and a quick ratio of 3.74. The company has a market cap of $3.64 billion, a price-to-earnings ratio of -256.67 and a beta of 1.45. iRhythm Technologies has a 1 year low of $100.85 and a 1 year high of $212.00. The firm has a fifty day moving average price of $118.68 and a 200-day moving average price of $117.17.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, August 6th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.62. The company had revenue of $224.17 million for the quarter, compared to analysts’ expectations of $219.30 million. iRhythm Technologies had a positive return on equity of 10.11% and a negative net margin of 1.69%.iRhythm Technologies’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.32) EPS. As a group, equities analysts predict that iRhythm Technologies will post 0.6 earnings per share for the current year.

Institutional Trading of iRhythm Technologies

Several institutional investors have recently made changes to their positions in IRTC. Versant Capital Management Inc grew its holdings in iRhythm Technologies by 123.2% during the 3rd quarter. Versant Capital Management Inc now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 122 shares in the last quarter. Cim Investment Management Inc. raised its position in shares of iRhythm Technologies by 7.4% during the second quarter. Cim Investment Management Inc. now owns 4,824 shares of the company’s stock valued at $574,000 after buying an additional 333 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of iRhythm Technologies by 1,065.8% in the second quarter. Squarepoint Ops LLC now owns 71,862 shares of the company’s stock worth $8,548,000 after buying an additional 65,698 shares in the last quarter. Nykredit A S purchased a new position in shares of iRhythm Technologies in the second quarter worth $236,000. Finally, Amundi boosted its position in shares of iRhythm Technologies by 14.0% during the second quarter. Amundi now owns 56,534 shares of the company’s stock worth $6,725,000 after acquiring an additional 6,959 shares during the last quarter.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc is a digital health care company focused on ambulatory cardiac monitoring and the diagnosis of cardiac arrhythmias. The company combines wearable biosensor technology, cloud-based data analysis and clinical services to help physicians detect and manage irregular heart rhythms, including atrial fibrillation.

Its principal products include the Zio monitor portfolio, which is designed for extended, continuous electrocardiogram monitoring in an easy-to-use wearable format.