iRhythm Technologies (NASDAQ:IRTC) Given Consensus Rating of “Moderate Buy” by Brokerages

iRhythm Technologies (NASDAQ:IRTC) has received an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twelve have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $187.3846.

Several analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Weiss Ratings upgraded shares of iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. The Goldman Sachs Group reduced their target price on shares of iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. BTIG Research reiterated a “buy” rating and issued a $185.00 price objective on shares of iRhythm Technologies in a research note on Monday, June 22nd. Finally, Truist Financial reduced their price objective on shares of iRhythm Technologies from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th.

iRhythm Technologies Stock Down 0.4%

IRTC stock opened at $118.42 on Tuesday. iRhythm Technologies has a one year low of $100.85 and a one year high of $212.00. The stock has a market capitalization of $3.89 billion, a PE ratio of -137.70 and a beta of 1.27. The company has a debt-to-equity ratio of 4.03, a quick ratio of 4.98 and a current ratio of 5.17. The company has a fifty day moving average of $115.08 and a 200-day moving average of $135.61.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.21. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The company had revenue of $199.39 million during the quarter, compared to analysts’ expectations of $194.11 million. During the same quarter last year, the business earned ($0.97) EPS. The business’s revenue was up 25.6% on a year-over-year basis. As a group, analysts expect that iRhythm Technologies will post 0.13 EPS for the current year.

Insider Activity at iRhythm Technologies

In related news, Director Abhijit Y. Talwalkar acquired 5,312 shares of iRhythm Technologies stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $10.71 per share, for a total transaction of $56,891.52. Following the completion of the purchase, the director directly owned 25,611 shares of the company’s stock, valued at approximately $274,293.81. This trade represents a 26.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.98% of the stock is owned by company insiders.

Institutional Trading of iRhythm Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC acquired a new stake in shares of iRhythm Technologies in the third quarter valued at about $30,000. GAMMA Investing LLC lifted its stake in shares of iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after purchasing an additional 60 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of iRhythm Technologies in the third quarter valued at about $34,000. Optiver Holding B.V. acquired a new position in iRhythm Technologies during the third quarter worth about $35,000. Finally, Employees Retirement System of Texas acquired a new position in iRhythm Technologies during the third quarter worth about $36,000.

About iRhythm Technologies

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.