iRhythm Technologies (NASDAQ:IRTC) Given Consensus Rating of “Moderate Buy” by Analysts

iRhythm Technologies (NASDAQ:IRTC) has earned an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eleven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $205.2308.

Several brokerages have issued reports on IRTC. Wells Fargo & Company decreased their target price on shares of iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Truist Financial reaffirmed a “buy” rating and issued a $200.00 target price (down from $215.00) on shares of iRhythm Technologies in a report on Friday, February 20th. Freedom Capital raised shares of iRhythm Technologies to a “strong-buy” rating in a report on Thursday, January 15th. Morgan Stanley reiterated an “overweight” rating on shares of iRhythm Technologies in a research note on Monday, January 12th. Finally, Citigroup reduced their price target on shares of iRhythm Technologies from $242.00 to $214.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th.

iRhythm Technologies Stock Up 4.5%

Shares of iRhythm Technologies stock opened at $120.45 on Thursday. The company has a debt-to-equity ratio of 4.25, a quick ratio of 4.48 and a current ratio of 4.63. The stock has a market capitalization of $3.89 billion, a PE ratio of -86.04 and a beta of 1.18. iRhythm Technologies has a 52-week low of $97.16 and a 52-week high of $212.00. The company has a 50-day simple moving average of $129.95 and a two-hundred day simple moving average of $158.94.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.27. The business had revenue of $208.89 million during the quarter, compared to analysts’ expectations of $202.61 million. iRhythm Technologies had a negative net margin of 5.96% and a negative return on equity of 28.15%. The business’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. On average, analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Insider Transactions at iRhythm Technologies

In other news, EVP Mervin Smith sold 1,352 shares of iRhythm Technologies stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $128.44, for a total value of $173,650.88. Following the completion of the sale, the executive vice president directly owned 25,612 shares in the company, valued at $3,289,605.28. The trade was a 5.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Minang Turakhia sold 4,027 shares of iRhythm Technologies stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $128.45, for a total transaction of $517,268.15. Following the completion of the sale, the executive vice president owned 54,906 shares of the company’s stock, valued at $7,052,675.70. This represents a 6.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 94,509 shares of company stock valued at $12,734,195. Company insiders own 1.10% of the company’s stock.

Institutional Trading of iRhythm Technologies

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew 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 worth $33,000 after acquiring an additional 60 shares during the period. Ascent Group LLC grew its stake in shares of iRhythm Technologies by 0.7% in the fourth quarter. Ascent Group LLC now owns 9,587 shares of the company’s stock worth $1,701,000 after acquiring an additional 70 shares during the period. WoodTrust Financial Corp grew its position in iRhythm Technologies by 0.7% during the fourth quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock valued at $1,787,000 after buying an additional 70 shares during the period. US Bancorp DE grew its position in iRhythm Technologies by 7.8% during the third quarter. US Bancorp DE now owns 1,042 shares of the company’s stock valued at $179,000 after buying an additional 75 shares during the period. Finally, State of Wyoming grew its position in iRhythm Technologies by 16.0% during the fourth quarter. State of Wyoming now owns 616 shares of the company’s stock valued at $109,000 after buying an additional 85 shares during the period.

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.