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

iRhythm Technologies, Inc. (NASDAQ:IRTC) has been given a consensus rating of “Buy” by the seven research firms that are covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have covered the stock in the last year is $134.00.

Several brokerages recently weighed in on IRTC. Canaccord Genuity Group dropped their target price on shares of iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating for the company in a report on Friday, May 3rd. JPMorgan Chase & Co. dropped their price objective on shares of iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Finally, Needham & Company LLC increased their price objective on shares of iRhythm Technologies from $137.00 to $138.00 and gave the company a “buy” rating in a report on Friday, May 3rd.

iRhythm Technologies Price Performance

IRTC stock opened at $98.76 on Thursday. The firm has a 50 day moving average price of $110.75 and a 200-day moving average price of $103.68. iRhythm Technologies has a 52-week low of $70.24 and a 52-week high of $132.92. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -23.35 and a beta of 1.31. The company has a debt-to-equity ratio of 7.13, a quick ratio of 6.95 and a current ratio of 7.10.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, February 22nd. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.66). The company had revenue of $132.51 million for the quarter, compared to analysts’ expectations of $131.14 million. iRhythm Technologies had a negative net margin of 25.33% and a negative return on equity of 69.87%. Equities research analysts forecast that iRhythm Technologies will post -3.14 EPS for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 7,615 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $928,725.40. Following the transaction, the insider now directly owns 48,962 shares in the company, valued at $5,971,405.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other iRhythm Technologies news, insider Patrick Michael Murphy sold 7,615 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $928,725.40. Following the transaction, the insider now directly owns 48,962 shares in the company, valued at approximately $5,971,405.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel G. Wilson sold 1,261 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $153,791.56. Following the completion of the sale, the executive vice president now directly owns 32,967 shares in the company, valued at $4,020,655.32. 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. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRTC. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of iRhythm Technologies by 14.5% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 511,905 shares of the company’s stock valued at $59,381,000 after buying an additional 64,755 shares in the last quarter. ProShare Advisors LLC boosted its stake in iRhythm Technologies by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 5,514 shares of the company’s stock worth $640,000 after purchasing an additional 433 shares during the period. Russell Investments Group Ltd. boosted its stake in iRhythm Technologies by 79,700.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock worth $185,000 after purchasing an additional 1,594 shares during the period. Headlands Technologies LLC boosted its stake in iRhythm Technologies by 10,650.0% during the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock worth $50,000 after purchasing an additional 426 shares during the period. Finally, Sei Investments Co. boosted its stake in iRhythm Technologies by 7.0% during the 1st quarter. Sei Investments Co. now owns 235,361 shares of the company’s stock worth $27,302,000 after purchasing an additional 15,381 shares during the period.

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.