iRhythm Technologies (NASDAQ:IRTC) Receives Consensus Rating of “Moderate Buy” from Brokerages

iRhythm Technologies (NASDAQ:IRTC) has earned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $184.8462.

Several analysts have recently commented on the company. William Blair raised iRhythm Technologies to a “strong-buy” rating in a research report on Friday, August 1st. Morgan Stanley reduced their price target on iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday, July 15th. Wells Fargo & Company boosted their price target on iRhythm Technologies from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Bank of America began coverage on iRhythm Technologies in a research note on Wednesday, August 20th. They issued a “buy” rating and a $200.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Wednesday, October 8th.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, EVP Sumi Shrishrimal sold 653 shares of iRhythm Technologies stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $167.12, for a total transaction of $109,129.36. Following the sale, the executive vice president directly owned 34,032 shares of the company’s stock, valued at approximately $5,687,427.84. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Abhijit Y. Talwalkar sold 5,312 shares of iRhythm Technologies stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $158.02, for a total value of $839,402.24. Following the sale, the director directly owned 20,299 shares in the company, valued at $3,207,647.98. The trade was a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,069 shares of company stock valued at $7,627,986. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IRTC. MCF Advisors LLC acquired a new position in shares of iRhythm Technologies in the 1st quarter worth approximately $25,000. AlphaQuest LLC bought a new stake in shares of iRhythm Technologies during the 1st quarter valued at $30,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of iRhythm Technologies during the 2nd quarter valued at $39,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of iRhythm Technologies in the 1st quarter valued at $50,000. Finally, CWM LLC increased its position in shares of iRhythm Technologies by 54.3% in the 1st quarter. CWM LLC now owns 517 shares of the company’s stock valued at $54,000 after buying an additional 182 shares in the last quarter.

iRhythm Technologies Stock Performance

IRTC opened at $175.67 on Thursday. The firm has a market cap of $5.64 billion, a PE ratio of -59.96 and a beta of 1.15. The company has a quick ratio of 4.88, a current ratio of 5.02 and a debt-to-equity ratio of 6.25. The business has a fifty day simple moving average of $172.27 and a 200-day simple moving average of $145.68. iRhythm Technologies has a fifty-two week low of $60.37 and a fifty-two week high of $187.57.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.21. The business had revenue of $186.69 million during the quarter, compared to analyst estimates of $173.94 million. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%.The company’s revenue was up 26.1% compared to the same quarter last year. During the same period last year, the company posted ($0.61) EPS. iRhythm Technologies has set its FY 2025 guidance at EPS. As a group, equities analysts predict that iRhythm Technologies will post -1.98 EPS 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.