iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives $108.50 Average PT from Brokerages

iRhythm Technologies, Inc. (NASDAQ:IRTC) has received a consensus rating of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $108.50.

Several research firms have commented on IRTC. StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Truist Financial boosted their target price on iRhythm Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Oppenheimer decreased their target price on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group started coverage on iRhythm Technologies in a report on Friday, October 4th. They set a “neutral” rating and a $78.00 target price for the company. Finally, Needham & Company LLC decreased their target price on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, October 31st.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar purchased 6,664 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $75.16 per share, with a total value of $500,866.24. Following the completion of the purchase, the director now owns 18,941 shares in the company, valued at $1,423,605.56. This trade represents a 54.28 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $77.41, for a total value of $1,249,784.45. Following the completion of the transaction, the chief executive officer now directly owns 159,929 shares of the company’s stock, valued at approximately $12,380,103.89. The trade was a 9.17 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in iRhythm Technologies during the third quarter valued at about $59,000. Nisa Investment Advisors LLC boosted its stake in iRhythm Technologies by 79.6% during the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after buying an additional 277 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in iRhythm Technologies during the third quarter valued at about $119,000. SG Americas Securities LLC purchased a new stake in shares of iRhythm Technologies during the first quarter valued at $126,000. Finally, nVerses Capital LLC lifted its holdings in shares of iRhythm Technologies by 400.0% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $148,000 after purchasing an additional 1,600 shares during the last quarter.

iRhythm Technologies Trading Up 8.0 %

Shares of IRTC stock opened at $89.02 on Monday. The firm has a 50-day moving average price of $73.51 and a 200 day moving average price of $81.74. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $124.11. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of -18.32 and a beta of 1.23. 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 (NASDAQ:IRTC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The business had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.89) EPS. Research analysts forecast that iRhythm Technologies will post -3.44 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.