Brokerages Set iRhythm Technologies (NASDAQ:IRTC) PT at $179.93

Shares of iRhythm Technologies (NASDAQ:IRTC) have earned a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $179.9286.

A number of research firms have recently weighed in on IRTC. Stephens assumed coverage on iRhythm Technologies in a report on Thursday, July 23rd. They issued an “overweight” rating and a $160.00 price target for the company. Wall Street Zen lowered iRhythm Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. Wells Fargo & Company reduced their target price on shares of iRhythm Technologies from $180.00 to $168.00 and set an “overweight” rating on the stock in a report on Tuesday, August 18th. Finally, Bank of America decreased their price target on shares of iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, May 18th.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $112.88 on Friday. The firm’s fifty day simple moving average is $119.97 and its 200-day simple moving average is $118.89. The company has a quick ratio of 3.74, a current ratio of 3.86 and a debt-to-equity ratio of 3.50. The stock has a market cap of $3.72 billion, a PE ratio of -262.51 and a beta of 1.31. iRhythm Technologies has a fifty-two week low of $100.85 and a fifty-two week high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.62. The business had revenue of $224.17 million for the quarter, compared to analysts’ expectations of $219.30 million. iRhythm Technologies had a positive return on equity of 10.11% and a negative net margin of 1.69%.The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.32) EPS. Analysts expect that iRhythm Technologies will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iRhythm Technologies

A number of large investors have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC acquired a new position in iRhythm Technologies during the 3rd quarter worth approximately $30,000. Employees Retirement System of Texas acquired a new stake in iRhythm Technologies in the third quarter valued at approximately $36,000. Smartleaf Asset Management LLC raised its stake in shares of iRhythm Technologies by 63.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 323 shares of the company’s stock valued at $58,000 after purchasing an additional 125 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of iRhythm Technologies by 1,146.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 399 shares of the company’s stock valued at $71,000 after purchasing an additional 367 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of iRhythm Technologies during the fourth quarter worth $71,000.

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.