iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives Consensus Recommendation of “Buy” from Analysts

iRhythm Technologies, Inc. (NASDAQ:IRTC) has received an average recommendation of “Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $135.11.

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group upped their price target on iRhythm Technologies from $121.00 to $133.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Needham & Company LLC boosted their target price on shares of iRhythm Technologies from $136.00 to $137.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. reduced their price target on shares of iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Finally, Truist Financial lifted their price target on shares of iRhythm Technologies from $115.00 to $133.00 and gave the company a “buy” rating in a report on Friday, December 22nd.

Insider Activity

In related news, CEO Quentin S. Blackford sold 24,701 shares of iRhythm Technologies stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $3,012,533.96. Following the sale, the chief executive officer now directly owns 180,015 shares in the company, valued at approximately $21,954,629.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,261 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $153,791.56. Following the completion of the transaction, the executive vice president now owns 32,967 shares in the company, valued at approximately $4,020,655.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Quentin S. Blackford sold 24,701 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $3,012,533.96. Following the completion of the transaction, the chief executive officer now directly owns 180,015 shares of the company’s stock, valued at approximately $21,954,629.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,052 shares of company stock valued at $4,274,942. 0.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On iRhythm Technologies

Institutional investors have recently bought and sold shares of the stock. US Bancorp DE raised its position in shares of iRhythm Technologies by 3.7% during the 1st quarter. US Bancorp DE now owns 4,012 shares of the company’s stock worth $632,000 after buying an additional 144 shares in the last quarter. MetLife Investment Management LLC boosted its stake in iRhythm Technologies by 49.2% during the 1st quarter. MetLife Investment Management LLC now owns 15,778 shares of the company’s stock valued at $2,485,000 after purchasing an additional 5,205 shares in the last quarter. BlackRock Inc. increased its position in shares of iRhythm Technologies by 0.4% during the 1st quarter. BlackRock Inc. now owns 2,093,147 shares of the company’s stock valued at $329,607,000 after purchasing an additional 8,440 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of iRhythm Technologies by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 68,492 shares of the company’s stock worth $10,783,000 after buying an additional 2,603 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in shares of iRhythm Technologies in the first quarter valued at $248,000.

iRhythm Technologies Stock Performance

Shares of iRhythm Technologies stock opened at $112.12 on Friday. The firm has a market cap of $3.49 billion, a PE ratio of -27.68 and a beta of 1.30. iRhythm Technologies has a 1 year low of $70.24 and a 1 year high of $140.23. The firm’s 50-day simple moving average is $111.64 and its 200-day simple moving average is $101.06. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 2.15.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.66). iRhythm Technologies had a negative net margin of 25.05% and a negative return on equity of 56.38%. The firm had revenue of $132.51 million for the quarter, compared to analyst estimates of $131.14 million. Equities analysts forecast that iRhythm Technologies will post -3.14 earnings per share for the current fiscal year.

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.