Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) have received an average recommendation of "Moderate Buy" from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $162.27.
Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on iRhythm Technologies from $185.00 to $190.00 in a report on Thursday. BTIG Research upped their target price on shares of iRhythm Technologies from $155.00 to $178.00 and gave the company a "buy" rating in a research note on Friday, August 5th. Truist Financial dropped their price target on shares of iRhythm Technologies from $200.00 to $165.00 and set a "buy" rating on the stock in a research note on Thursday, June 16th. Canaccord Genuity Group upped their price objective on shares of iRhythm Technologies from $185.00 to $198.00 and gave the company a "buy" rating in a research report on Friday, September 2nd. Finally, Canaccord Genuity Group lifted their target price on iRhythm Technologies from $185.00 to $198.00 and gave the stock a "buy" rating in a research report on Friday, September 2nd.
Get iRhythm Technologies alerts:Insider Transactions at iRhythm Technologies
In related news, CFO Douglas Devine sold 1,239 shares of the company's stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $108.90, for a total transaction of $134,927.10. Following the sale, the chief financial officer now directly owns 39,811 shares of the company's stock, valued at approximately $4,335,417.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Douglas Devine sold 1,239 shares of the firm's stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $108.90, for a total transaction of $134,927.10. Following the transaction, the chief financial officer now directly owns 39,811 shares in the company, valued at $4,335,417.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel G. Wilson sold 1,428 shares of the firm's stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $108.93, for a total value of $155,552.04. Following the transaction, the executive vice president now owns 37,562 shares in the company, valued at $4,091,628.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,866 shares of company stock worth $1,459,508. 1.64% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On iRhythm Technologies
Large investors have recently added to or reduced their stakes in the company. Ascent Group LLC increased its position in iRhythm Technologies by 6.5% in the first quarter. Ascent Group LLC now owns 2,700 shares of the company's stock worth $425,000 after buying an additional 165 shares during the period. Bridgewater Associates LP increased its position in iRhythm Technologies by 9.8% in the fourth quarter. Bridgewater Associates LP now owns 31,364 shares of the company's stock worth $3,691,000 after buying an additional 2,804 shares during the period. Rock Springs Capital Management LP increased its position in iRhythm Technologies by 0.7% in the first quarter. Rock Springs Capital Management LP now owns 436,000 shares of the company's stock worth $68,657,000 after buying an additional 3,000 shares during the period. Ensign Peak Advisors Inc acquired a new stake in iRhythm Technologies in the fourth quarter worth $658,000. Finally, Capital Research Global Investors increased its position in iRhythm Technologies by 777.0% in the fourth quarter. Capital Research Global Investors now owns 877,000 shares of the company's stock worth $103,214,000 after buying an additional 777,000 shares during the period. 98.98% of the stock is currently owned by institutional investors.iRhythm Technologies Trading Down 5.2 %
Shares of IRTC stock opened at $122.73 on Friday. The company has a quick ratio of 3.84, a current ratio of 4.04 and a debt-to-equity ratio of 0.14. iRhythm Technologies has a fifty-two week low of $56.49 and a fifty-two week high of $169.54. The firm's 50 day moving average price is $150.09 and its two-hundred day moving average price is $138.70. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -27.77 and a beta of 1.51.
iRhythm Technologies (NASDAQ:IRTC – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.15. iRhythm Technologies had a negative net margin of 36.15% and a negative return on equity of 38.95%. The business had revenue of $102.10 million for the quarter, compared to analyst estimates of $100.51 million. During the same quarter in the previous year, the business posted ($0.59) EPS. The business's quarterly revenue was up 25.6% on a year-over-year basis. On average, analysts anticipate that iRhythm Technologies will post -3.06 EPS for the current year.
About iRhythm Technologies
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iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
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