iRhythm Technologies (NASDAQ:IRTC) Receives Average Recommendation of “Moderate Buy” from Analysts

iRhythm Technologies (NASDAQ:IRTC) has earned an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $201.5714.

IRTC has been the subject of a number of recent research reports. Needham & Company LLC upped their target price on iRhythm Technologies from $193.00 to $244.00 and gave the company a “buy” rating in a research note on Friday, October 31st. BTIG Research boosted their price target on shares of iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a report on Friday, October 31st. William Blair raised shares of iRhythm Technologies to a “strong-buy” rating in a report on Friday, August 1st. Morgan Stanley decreased their target price on shares of iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of iRhythm Technologies from $190.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st.

Insider Transactions at iRhythm Technologies

In related news, CEO Quentin S. Blackford sold 14,059 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $182.94, for a total value of $2,571,953.46. Following the sale, the chief executive officer owned 164,979 shares of the company’s stock, valued at $30,181,258.26. The trade was a 7.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel G. Wilson sold 8,000 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $207.44, for a total value of $1,659,520.00. Following the completion of the sale, the chief financial officer owned 26,470 shares in the company, valued at $5,490,936.80. This trade represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 27,712 shares of company stock valued at $5,215,603. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On iRhythm Technologies

Institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in iRhythm Technologies during the third quarter worth about $30,000. Smartleaf Asset Management LLC raised its stake in shares of iRhythm Technologies by 100.0% in the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after acquiring an additional 99 shares during the last quarter. MCF Advisors LLC acquired a new position in shares of iRhythm Technologies in the 1st quarter worth approximately $25,000. ANTIPODES PARTNERS Ltd bought a new stake in iRhythm Technologies during the 2nd quarter worth approximately $39,000. Finally, AlphaQuest LLC bought a new stake in iRhythm Technologies during the 1st quarter worth approximately $30,000.

iRhythm Technologies Stock Down 1.6%

IRTC stock opened at $174.60 on Monday. iRhythm Technologies has a twelve month low of $71.00 and a twelve month high of $212.00. The company has a quick ratio of 4.50, a current ratio of 4.63 and a debt-to-equity ratio of 5.32. The company has a market cap of $5.63 billion, a PE ratio of -108.45 and a beta of 1.13. The business’s 50-day simple moving average is $178.09 and its 200 day simple moving average is $156.15.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.30. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The firm had revenue of $192.88 million during the quarter, compared to analysts’ expectations of $184.75 million. During the same quarter in the prior year, the firm posted ($1.26) EPS. The company’s revenue for the quarter was up 30.8% on a year-over-year basis. iRhythm Technologies has set its FY 2025 guidance at EPS. On average, research analysts anticipate 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.