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

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $108.50.

A number of analysts recently weighed in on IRTC shares. Citigroup lowered their price target on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Truist Financial raised their price objective on shares of iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird decreased their price objective on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Canaccord Genuity Group increased their target price on iRhythm Technologies from $122.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, StockNews.com lowered iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday, September 27th.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $89.50 on Thursday. 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 $124.11. The firm has a 50 day moving average of $70.27 and a 200-day moving average of $84.49.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The business had revenue of $147.54 million during the quarter, compared to analyst estimates of $146.69 million. During the same period in the prior year, the firm posted ($0.89) EPS. iRhythm Technologies’s revenue for the quarter was up 18.4% compared to the same quarter last year. Equities research analysts expect that iRhythm Technologies will post -3.44 earnings per share for the current fiscal year.

Insider Transactions at iRhythm Technologies

In related news, CFO Brice Bobzien sold 1,372 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the transaction, the chief financial officer now directly owns 24,428 shares of the company’s stock, valued at approximately $1,718,265.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Brice Bobzien sold 1,372 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the transaction, the chief financial officer now owns 24,428 shares of the company’s stock, valued at approximately $1,718,265.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Abhijit Y. Talwalkar purchased 6,664 shares of the business’s stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the transaction, the director now directly owns 18,941 shares in the company, valued at approximately $1,423,605.56. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is owned by insiders.

Institutional Investors Weigh In On iRhythm Technologies

Large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its position in iRhythm Technologies by 5.9% during the second quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company’s stock worth $153,745,000 after acquiring an additional 80,091 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of iRhythm Technologies by 3.5% in the 1st quarter. Blair William & Co. IL now owns 832,934 shares of the company’s stock valued at $96,620,000 after purchasing an additional 27,842 shares during the period. Champlain Investment Partners LLC lifted its stake in iRhythm Technologies by 104.1% in the 1st quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock valued at $66,793,000 after purchasing an additional 293,710 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in iRhythm Technologies by 12.3% during the second quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company’s stock worth $57,717,000 after purchasing an additional 58,668 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in iRhythm Technologies by 9.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 519,973 shares of the company’s stock worth $38,603,000 after buying an additional 44,387 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.