iRhythm Technologies (NASDAQ:IRTC) Given Buy Rating at BTIG Research

iRhythm Technologies (NASDAQ:IRTC)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a report issued on Monday,Benzinga reports. They presently have a $185.00 price target on the stock. BTIG Research’s price target suggests a potential upside of 76.78% from the company’s previous close.

IRTC has been the topic of several other research reports. Truist Financial dropped their price objective on iRhythm Technologies from $200.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Canaccord Genuity Group reduced their target price on shares of iRhythm Technologies from $180.00 to $152.00 and set a “buy” rating for the company in a report on Monday, June 1st. Wall Street Zen downgraded shares of iRhythm Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Citigroup boosted their price target on iRhythm Technologies from $155.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company reduced their price objective on iRhythm Technologies from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.38.

iRhythm Technologies Price Performance

Shares of NASDAQ IRTC opened at $104.65 on Monday. iRhythm Technologies has a 12-month low of $100.85 and a 12-month high of $212.00. The stock has a market cap of $3.44 billion, a P/E ratio of -121.68 and a beta of 1.27. 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 business’s fifty day simple moving average is $115.95 and its 200-day simple moving average is $138.36.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.21. The company had revenue of $199.39 million for the quarter, compared to the consensus estimate of $194.11 million. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.97) EPS. As a group, equities analysts predict that iRhythm Technologies will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Abhijit Y. Talwalkar bought 5,312 shares of iRhythm Technologies stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $10.71 per share, for a total transaction of $56,891.52. Following the purchase, the director owned 25,611 shares of the company’s stock, valued at approximately $274,293.81. The trade was a 26.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IRTC. Measured Wealth Private Client Group LLC acquired a new position in iRhythm Technologies during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC boosted its stake in shares of iRhythm Technologies by 48.4% in the fourth 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 stake in shares of iRhythm Technologies in the third quarter valued at approximately $34,000. Optiver Holding B.V. purchased a new stake in shares of iRhythm Technologies in the third quarter valued at approximately $35,000. Finally, Employees Retirement System of Texas acquired a new position in iRhythm Technologies during the third quarter worth $36,000.

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.