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

iRhythm Technologies (NASDAQ:IRTC) has been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $219.2308.

Several equities research analysts recently weighed in on IRTC shares. The Goldman Sachs Group boosted their target price on iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of iRhythm Technologies from $190.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Robert W. Baird boosted their price objective on shares of iRhythm Technologies from $180.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Wells Fargo & Company upped their price objective on shares of iRhythm Technologies from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Finally, BTIG Research raised their target price on shares of iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, October 31st.

iRhythm Technologies Trading Down 2.7%

Shares of NASDAQ:IRTC opened at $160.34 on Friday. The company has a current ratio of 4.63, a quick ratio of 4.50 and a debt-to-equity ratio of 5.32. The stock has a market capitalization of $5.17 billion, a PE ratio of -99.59 and a beta of 1.12. iRhythm Technologies has a 1 year low of $92.52 and a 1 year high of $212.00. The firm has a fifty day moving average price of $174.88 and a 200 day moving average price of $169.46.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.30. The company had revenue of $192.88 million for the quarter, compared to analyst estimates of $184.75 million. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The business’s revenue was up 30.8% compared to the same quarter last year. During the same period last year, the company earned ($1.26) earnings per share. Analysts expect that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Quentin S. Blackford sold 14,059 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $182.94, for a total transaction of $2,571,953.46. Following the completion of the sale, the chief executive officer owned 164,979 shares in the company, valued at $30,181,258.26. This represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel G. Wilson sold 8,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 26,470 shares in the company, valued at $5,490,936.80. This trade represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,817 shares of company stock valued at $4,741,235. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On iRhythm Technologies

Several hedge funds and other institutional investors have recently modified their holdings of IRTC. Root Financial Partners LLC acquired a new position in iRhythm Technologies in the third quarter worth $30,000. Measured Wealth Private Client Group LLC acquired a new position in iRhythm Technologies during the 3rd quarter worth $30,000. GAMMA Investing LLC boosted its position in iRhythm Technologies by 48.4% in the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after buying an additional 60 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of iRhythm Technologies by 100.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after buying an additional 99 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of iRhythm Technologies during the third quarter worth $34,000.

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.