iRhythm Technologies (NASDAQ:IRTC) Receives $206.43 Average Target Price from Analysts

Shares of iRhythm Technologies (NASDAQ:IRTC) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $206.4286.

A number of equities research analysts have commented on IRTC shares. Loop Capital set a $220.00 price objective on iRhythm Technologies in a research note on Friday, October 31st. BTIG Research upped their target price on iRhythm Technologies from $195.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of iRhythm Technologies from $190.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. The Goldman Sachs Group boosted their price target on shares of iRhythm Technologies from $180.00 to $202.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iRhythm Technologies in a report on Wednesday, October 8th.

iRhythm Technologies Trading Down 0.6%

IRTC opened at $177.44 on Tuesday. The company has a fifty day moving average price of $177.34 and a two-hundred day moving average price of $166.74. iRhythm Technologies has a 1-year low of $86.55 and a 1-year high of $212.00. The company has a market cap of $5.72 billion, a P/E ratio of -110.21 and a beta of 1.12. The company has a current ratio of 4.63, a quick ratio of 4.50 and a debt-to-equity ratio of 5.32.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.30. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The company had revenue of $192.88 million during the quarter, compared to the consensus estimate of $184.75 million. During the same period last year, the business posted ($1.26) EPS. The firm’s revenue for the quarter was up 30.8% compared to the same quarter last year. Analysts predict that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,478 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total transaction of $458,008.74. Following the completion of the sale, the insider directly owned 53,281 shares of the company’s stock, valued at approximately $9,847,927.23. The trade was a 4.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chad Patterson sold 280 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total value of $51,752.40. Following the completion of the sale, the insider directly owned 43,387 shares of the company’s stock, valued at approximately $8,019,219.21. This trade represents a 0.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 24,817 shares of company stock worth $4,741,235. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On iRhythm Technologies

Several institutional investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL bought a new position in iRhythm Technologies during the 3rd quarter valued at $3,439,800,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of iRhythm Technologies by 169.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company’s stock worth $94,535,000 after acquiring an additional 568,261 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of iRhythm Technologies by 6,415.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 541,039 shares of the company’s stock valued at $93,053,000 after purchasing an additional 532,735 shares during the last quarter. Millennium Management LLC lifted its position in shares of iRhythm Technologies by 563.8% during the first quarter. Millennium Management LLC now owns 399,746 shares of the company’s stock valued at $41,845,000 after purchasing an additional 339,529 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its holdings in iRhythm Technologies by 24,782.1% during the third quarter. Polar Capital Holdings Plc now owns 335,908 shares of the company’s stock worth $57,773,000 after purchasing an additional 334,558 shares during the last quarter.

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.