iRhythm Technologies (NASDAQ:IRTC) Receives $184.85 Average Price Target from Analysts

iRhythm Technologies (NASDAQ:IRTC) has been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $184.8462.

A number of analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of iRhythm Technologies in a research report on Wednesday, October 8th. Morgan Stanley cut their target price on iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday, July 15th. Evercore ISI cut their target price on iRhythm Technologies from $185.00 to $175.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. Bank of America assumed coverage on iRhythm Technologies in a research report on Wednesday, August 20th. They set a “buy” rating and a $200.00 target price for the company. Finally, Robert W. Baird upped their target price on iRhythm Technologies from $180.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, October 10th.

iRhythm Technologies Stock Performance

IRTC opened at $176.87 on Thursday. The business has a fifty day simple moving average of $174.09 and a 200 day simple moving average of $148.26. The company has a market capitalization of $5.68 billion, a PE ratio of -60.36 and a beta of 1.15. iRhythm Technologies has a 1 year low of $67.92 and a 1 year high of $187.57. The company has a debt-to-equity ratio of 6.25, a current ratio of 5.02 and a quick ratio of 4.88.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.21. The business had revenue of $186.69 million during the quarter, compared to the consensus estimate of $173.94 million. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%.The firm’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.61) EPS. iRhythm Technologies has set its FY 2025 guidance at EPS. Research analysts expect that iRhythm Technologies will post -1.98 EPS for the current year.

Insider Buying and Selling at iRhythm Technologies

In related news, CAO Marc Wade Rosenbaum sold 226 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $158.93, for a total transaction of $35,918.18. Following the completion of the sale, the chief accounting officer directly owned 10,879 shares in the company, valued at $1,728,999.47. This represents a 2.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sumi Shrishrimal sold 653 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $167.12, for a total value of $109,129.36. Following the sale, the executive vice president owned 34,032 shares of the company’s stock, valued at approximately $5,687,427.84. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,069 shares of company stock worth $7,627,986 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On iRhythm Technologies

Several large investors have recently bought and sold shares of IRTC. SG Americas Securities LLC raised its position in iRhythm Technologies by 95.6% in the first quarter. SG Americas Securities LLC now owns 8,427 shares of the company’s stock valued at $882,000 after purchasing an additional 4,119 shares during the last quarter. Silver Oak Securities Incorporated bought a new position in iRhythm Technologies in the first quarter valued at about $301,000. Bessemer Group Inc. raised its position in iRhythm Technologies by 1.1% in the first quarter. Bessemer Group Inc. now owns 574,053 shares of the company’s stock valued at $60,092,000 after purchasing an additional 6,046 shares during the last quarter. Diversified Trust Co raised its position in iRhythm Technologies by 8.1% in the first quarter. Diversified Trust Co now owns 8,944 shares of the company’s stock valued at $936,000 after purchasing an additional 668 shares during the last quarter. Finally, Kampmann Melissa S. raised its position in iRhythm Technologies by 4.6% in the first quarter. Kampmann Melissa S. now owns 25,025 shares of the company’s stock valued at $2,620,000 after purchasing an additional 1,100 shares during the last quarter.

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.