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

iRhythm Technologies, Inc. (NASDAQ:IRTC) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $108.45.

IRTC has been the subject of a number of recent research reports. StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. Oppenheimer lifted their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Truist Financial boosted their price objective on shares of iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Robert W. Baird reduced their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $86.00 price target on shares of iRhythm Technologies in a research note on Tuesday, December 3rd.

iRhythm Technologies Stock Performance

Shares of iRhythm Technologies stock opened at $108.33 on Tuesday. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -22.29 and a beta of 1.26. The firm’s fifty day simple moving average is $88.22 and its 200-day simple moving average is $80.42. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. iRhythm Technologies has a 12 month low of $55.92 and a 12 month high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results 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 net margin of 26.90% and a negative return on equity of 120.86%. The business had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $146.69 million. During the same period in the previous year, the company posted ($0.89) earnings per share. iRhythm Technologies’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, equities analysts forecast that iRhythm Technologies will post -3.35 earnings per share for the current year.

Insider Activity

In other news, CEO Quentin S. Blackford sold 16,145 shares of the firm’s 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 owns 159,929 shares in the company, valued at $12,380,103.89. This trade represents a 9.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patrick Michael Murphy sold 2,492 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $85.89, for a total transaction of $214,037.88. Following the completion of the sale, the insider now directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. The trade was a 6.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. increased its position in iRhythm Technologies by 6.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,909 shares of the company’s stock worth $851,000 after buying an additional 482 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in iRhythm Technologies by 22.3% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 3,105 shares of the company’s stock worth $231,000 after purchasing an additional 567 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in iRhythm Technologies by 166.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock valued at $94,000 after purchasing an additional 648 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in iRhythm Technologies by 27.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,512 shares of the company’s stock valued at $261,000 after purchasing an additional 754 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of iRhythm Technologies during the 3rd quarter worth about $59,000.

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.