iRhythm Technologies, Inc. (NASDAQ:IRTC) Given Consensus Rating of “Moderate Buy” by Analysts

iRhythm Technologies, Inc. (NASDAQ:IRTC) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $119.73.

A number of research analysts have issued reports on the company. The Goldman Sachs Group lifted their target price on iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. Oppenheimer upped their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Truist Financial increased their price objective on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Canaccord Genuity Group boosted their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Needham & Company LLC increased their price target on iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, February 21st.

iRhythm Technologies Stock Performance

NASDAQ IRTC opened at $103.91 on Wednesday. The firm’s 50 day simple moving average is $106.15 and its 200 day simple moving average is $87.07. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of -28.55 and a beta of 1.36. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $128.52.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Van ECK Associates Corp grew its position in shares of iRhythm Technologies by 41.3% in the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after buying an additional 162 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in iRhythm Technologies by 5.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company’s stock valued at $297,000 after acquiring an additional 184 shares during the last quarter. Invesco Ltd. increased its position in iRhythm Technologies by 1.1% during the 4th quarter. Invesco Ltd. now owns 19,200 shares of the company’s stock valued at $1,731,000 after purchasing an additional 207 shares during the period. Summit Investment Advisors Inc. increased its position in iRhythm Technologies by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,271 shares of the company’s stock valued at $295,000 after purchasing an additional 210 shares during the period. Finally, KBC Group NV raised its holdings in iRhythm Technologies by 45.1% during the 4th quarter. KBC Group NV now owns 1,319 shares of the company’s stock worth $119,000 after purchasing an additional 410 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.