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

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) have been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $116.10.

Several brokerages have commented on IRTC. Needham & Company LLC dropped their price objective on iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Citigroup cut their price objective on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley dropped their price target on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. The Goldman Sachs Group started coverage on shares of iRhythm Technologies in a research report on Friday. They issued a “neutral” rating and a $78.00 target price for the company. Finally, Oppenheimer dropped their price objective on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd.

iRhythm Technologies Trading Down 5.4 %

NASDAQ IRTC opened at $62.71 on Friday. iRhythm Technologies has a 52 week low of $60.88 and a 52 week high of $124.11. The company has a 50 day moving average price of $71.54 and a 200 day moving average price of $91.31. The company has a quick ratio of 6.76, a current ratio of 6.92 and a debt-to-equity ratio of 6.50. The firm has a market cap of $1.95 billion, a PE ratio of -14.83 and a beta of 1.22.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.28. The company had revenue of $148.05 million for the quarter, compared to analyst estimates of $146.15 million. iRhythm Technologies had a negative return on equity of 84.14% and a negative net margin of 24.50%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.61) EPS. As a group, sell-side analysts forecast that iRhythm Technologies will post -2.66 EPS for the current fiscal year.

Insider Buying and Selling

In other iRhythm Technologies news, EVP Mervin Smith sold 688 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total transaction of $51,366.08. Following the sale, the executive vice president now directly owns 10,360 shares in the company, valued at approximately $773,477.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other iRhythm Technologies news, insider Chad Patterson sold 3,012 shares of iRhythm Technologies stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $224,875.92. Following the completion of the sale, the insider now directly owns 37,133 shares of the company’s stock, valued at approximately $2,772,349.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mervin Smith sold 688 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $51,366.08. Following the sale, the executive vice president now owns 10,360 shares in the company, valued at $773,477.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,072 shares of company stock worth $372,748 in the last quarter. Company insiders own 0.68% of the company’s stock.

Institutional Trading of iRhythm Technologies

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of iRhythm Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,993,443 shares of the company’s stock valued at $320,418,000 after buying an additional 35,694 shares during the period. Mackenzie Financial Corp raised its position in iRhythm Technologies by 5.9% in the second quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company’s stock valued at $153,745,000 after purchasing an additional 80,091 shares during the period. Blair William & Co. IL lifted its stake in shares of iRhythm Technologies by 3.5% during the first quarter. Blair William & Co. IL now owns 832,934 shares of the company’s stock worth $96,620,000 after purchasing an additional 27,842 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of iRhythm Technologies by 104.1% in the first quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock worth $66,793,000 after buying an additional 293,710 shares during the period. Finally, Point72 Asset Management L.P. grew its position in iRhythm Technologies by 12.3% in the second quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company’s stock valued at $57,717,000 after acquiring an additional 58,668 shares in the last quarter.

iRhythm Technologies Company Profile

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.