iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives $128.55 Average Target Price from Analysts

iRhythm Technologies, Inc. (NASDAQ:IRTC) has received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $133.73.

IRTC has been the subject of a number of research reports. Needham & Company LLC boosted their target price on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Robert W. Baird lifted their price objective on iRhythm Technologies from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Canaccord Genuity Group decreased their price objective on iRhythm Technologies from $152.00 to $139.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Truist Financial raised their target price on iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group lifted their price target on iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, February 24th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Xponance Inc. lifted its position in shares of iRhythm Technologies by 6.1% during the 1st quarter. Xponance Inc. now owns 2,390 shares of the company’s stock valued at $250,000 after buying an additional 137 shares in the last quarter. Hsbc Holdings PLC raised its position in iRhythm Technologies by 3.1% during the first quarter. Hsbc Holdings PLC now owns 4,590 shares of the company’s stock worth $474,000 after acquiring an additional 138 shares during the period. Van ECK Associates Corp lifted its holdings in iRhythm Technologies by 41.3% during the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after purchasing an additional 162 shares in the last quarter. CWM LLC lifted its holdings in iRhythm Technologies by 54.3% during the first quarter. CWM LLC now owns 517 shares of the company’s stock valued at $54,000 after purchasing an additional 182 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in shares of iRhythm Technologies by 5.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company’s stock worth $297,000 after purchasing an additional 184 shares in the last quarter.

iRhythm Technologies Stock Up 0.2%

IRTC stock opened at $142.69 on Monday. The stock has a market capitalization of $4.56 billion, a PE ratio of -39.20 and a beta of 1.34. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $144.25. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The firm has a 50 day moving average of $114.71 and a 200 day moving average of $103.28.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.06). iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The firm had revenue of $158.68 million during the quarter, compared to analyst estimates of $153.39 million. During the same period in the prior year, the company posted ($1.23) earnings per share. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. Sell-side analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current year.

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.