iRhythm Technologies, Inc. (NASDAQ:IRTC) Given Consensus Rating of “Moderate Buy” by Brokerages

iRhythm Technologies, Inc. (NASDAQ:IRTC) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $108.50.

A number of equities research analysts recently issued reports on IRTC shares. Citigroup dropped their target price on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Robert W. Baird dropped their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. The Goldman Sachs Group assumed coverage on iRhythm Technologies in a report on Friday, October 4th. They set a “neutral” rating and a $78.00 price target for the company. Finally, Oppenheimer cut their price objective on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd.

iRhythm Technologies Price Performance

IRTC stock opened at $73.99 on Monday. iRhythm Technologies has a one year low of $55.92 and a one year high of $124.11. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm has a market capitalization of $2.32 billion, a PE ratio of -15.22 and a beta of 1.23. The firm has a 50-day moving average of $72.76 and a two-hundred day moving average of $81.93.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The company had revenue of $147.54 million during the quarter, compared to analyst estimates of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.89) earnings per share. On average, analysts forecast that iRhythm Technologies will post -3.44 earnings per share for the current year.

Insider Buying and Selling

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 16,145 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $77.41, for a total value of $1,249,784.45. Following the sale, the chief executive officer now owns 159,929 shares in the company, valued at approximately $12,380,103.89. The trade was a 9.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Abhijit Y. Talwalkar purchased 6,664 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was purchased at an average price of $75.16 per share, for a total transaction of $500,866.24. Following the transaction, the director now directly owns 18,941 shares in the company, valued at approximately $1,423,605.56. This trade represents a 54.28 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by company insiders.

Institutional Trading of iRhythm Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRTC. SG Americas Securities LLC bought a new stake in iRhythm Technologies during the 1st quarter worth approximately $126,000. Russell Investments Group Ltd. raised its position in iRhythm Technologies by 79,700.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock valued at $185,000 after buying an additional 1,594 shares during the last quarter. Ascent Group LLC raised its position in iRhythm Technologies by 4.6% in the 1st quarter. Ascent Group LLC now owns 3,980 shares of the company’s stock valued at $462,000 after buying an additional 175 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its stake in iRhythm Technologies by 4.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 94,653 shares of the company’s stock valued at $10,980,000 after acquiring an additional 4,338 shares in the last quarter. Finally, Comerica Bank grew its stake in shares of iRhythm Technologies by 5,033.5% in the 1st quarter. Comerica Bank now owns 38,963 shares of the company’s stock worth $4,520,000 after acquiring an additional 38,204 shares in the last quarter.

About iRhythm Technologies

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.