Analysts Set iRhythm Technologies, Inc. (NASDAQ:IRTC) PT at $119.73

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $119.73.

A number of analysts recently commented on the company. StockNews.com raised iRhythm Technologies from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Truist Financial raised their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Oppenheimer boosted their price target on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Needham & Company LLC raised their price objective on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Canaccord Genuity Group lifted their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, December 9th.

iRhythm Technologies Price Performance

IRTC opened at $100.34 on Friday. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $128.52. The stock’s 50 day simple moving average is $107.62 and its 200 day simple moving average is $91.14. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of -27.57 and a beta of 1.45.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.30. The firm had revenue of $164.33 million for the quarter, compared to analysts’ expectations of $158.30 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. As a group, analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in shares of iRhythm Technologies in the fourth quarter worth $45,000. Van ECK Associates Corp boosted its stake in iRhythm Technologies by 41.3% in the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after purchasing an additional 162 shares in the last quarter. Quarry LP purchased a new stake in iRhythm Technologies during the 3rd quarter valued at about $59,000. Raiffeisen Bank International AG bought a new stake in iRhythm Technologies during the 4th quarter valued at about $60,000. Finally, Nisa Investment Advisors LLC raised its holdings in iRhythm Technologies by 166.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock worth $94,000 after buying an additional 648 shares during the last quarter.

About iRhythm Technologies

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.