iRhythm Technologies (NASDAQ:IRTC) Receives Average Rating of “Moderate Buy” from Brokerages

iRhythm Technologies (NASDAQ:IRTC) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $205.7143.

A number of research firms recently commented on IRTC. Citigroup lifted their price target on shares of iRhythm Technologies from $205.00 to $242.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. The Goldman Sachs Group increased their price target on iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of iRhythm Technologies from $190.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Loop Capital set a $220.00 target price on iRhythm Technologies in a research note on Friday, October 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iRhythm Technologies in a research report on Wednesday, October 8th.

iRhythm Technologies Stock Down 0.9%

IRTC stock opened at $181.35 on Friday. The company has a quick ratio of 4.50, a current ratio of 4.63 and a debt-to-equity ratio of 5.32. iRhythm Technologies has a twelve month low of $81.10 and a twelve month high of $212.00. The business’s 50-day moving average price is $178.25 and its 200-day moving average price is $162.53. The stock has a market cap of $5.84 billion, a P/E ratio of -112.64 and a beta of 1.10.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $192.88 million for the quarter, compared to analysts’ expectations of $184.75 million. During the same period in the previous year, the firm earned ($1.26) EPS. The firm’s revenue was up 30.8% compared to the same quarter last year. On average, equities research analysts forecast that iRhythm Technologies will post -1.98 EPS for the current year.

Insiders Place Their Bets

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,478 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total value of $458,008.74. Following the transaction, the insider directly owned 53,281 shares in the company, valued at $9,847,927.23. This represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chad Patterson sold 280 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total transaction of $51,752.40. Following the sale, the insider owned 43,387 shares of the company’s stock, valued at $8,019,219.21. This represents a 0.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 24,817 shares of company stock valued at $4,741,235. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On iRhythm Technologies

A number of institutional investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of iRhythm Technologies by 169.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 903,084 shares of the company’s stock worth $94,535,000 after purchasing an additional 568,261 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of iRhythm Technologies by 6,415.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 541,039 shares of the company’s stock worth $93,053,000 after acquiring an additional 532,735 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of iRhythm Technologies during the first quarter worth about $54,249,000. Millennium Management LLC boosted its holdings in shares of iRhythm Technologies by 563.8% in the 1st quarter. Millennium Management LLC now owns 399,746 shares of the company’s stock valued at $41,845,000 after buying an additional 339,529 shares during the period. Finally, Polar Capital Holdings Plc increased its position in iRhythm Technologies by 24,782.1% in the third quarter. Polar Capital Holdings Plc now owns 335,908 shares of the company’s stock worth $57,773,000 after buying an additional 334,558 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.