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

iRhythm Technologies, Inc. (NASDAQ:IRTC) has earned an average rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued a report on the stock in the last year is $135.11.

A number of research analysts have recently commented on IRTC shares. Truist Financial increased their price objective on iRhythm Technologies from $115.00 to $133.00 and gave the company a “buy” rating in a report on Friday, December 22nd. Needham & Company LLC raised their price objective on shares of iRhythm Technologies from $136.00 to $137.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Canaccord Genuity Group upped their target price on shares of iRhythm Technologies from $121.00 to $133.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd.

iRhythm Technologies Stock Up 0.6 %

Shares of iRhythm Technologies stock opened at $112.12 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.15 and a debt-to-equity ratio of 0.17. iRhythm Technologies has a 52-week low of $70.24 and a 52-week high of $140.23. The company has a market capitalization of $3.49 billion, a P/E ratio of -27.68 and a beta of 1.30. The company has a 50 day moving average of $111.64 and a 200 day moving average of $101.06.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.66). The firm had revenue of $132.51 million for the quarter, compared to analysts’ expectations of $131.14 million. iRhythm Technologies had a negative return on equity of 56.38% and a negative net margin of 25.05%. As a group, research analysts forecast that iRhythm Technologies will post -3.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Quentin S. Blackford sold 24,701 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $3,012,533.96. Following the completion of the sale, the chief executive officer now directly owns 180,015 shares of the company’s stock, valued at $21,954,629.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other iRhythm Technologies news, CEO Quentin S. Blackford sold 24,701 shares of iRhythm Technologies stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $3,012,533.96. Following the transaction, the chief executive officer now directly owns 180,015 shares in the company, valued at approximately $21,954,629.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mark J. Day sold 1,475 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $179,891.00. Following the sale, the chief technology officer now owns 64,412 shares of the company’s stock, valued at approximately $7,855,687.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,052 shares of company stock valued at $4,274,942. Insiders own 0.43% of the company’s stock.

Institutional Trading of iRhythm Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in iRhythm Technologies by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 2,993,443 shares of the company’s stock worth $320,418,000 after purchasing an additional 35,694 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of iRhythm Technologies by 5.1% in the 4th quarter. Capital Research Global Investors now owns 2,495,626 shares of the company’s stock valued at $267,132,000 after buying an additional 121,709 shares during the period. BlackRock Inc. boosted its stake in shares of iRhythm Technologies by 4.6% in the second quarter. BlackRock Inc. now owns 2,373,248 shares of the company’s stock valued at $247,577,000 after buying an additional 104,541 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in iRhythm Technologies by 5.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,071,500 shares of the company’s stock worth $221,733,000 after acquiring an additional 108,875 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in iRhythm Technologies by 3.4% during the third quarter. Mackenzie Financial Corp now owns 1,262,179 shares of the company’s stock worth $111,425,000 after acquiring an additional 41,052 shares during the period.

iRhythm Technologies Company Profile

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.