iRhythm Technologies (NASDAQ:IRTC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of iRhythm Technologies (NASDAQ:IRTC) have received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, Marketbeat 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 assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $206.4286.

IRTC has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of iRhythm Technologies from $190.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Loop Capital set a $220.00 target price on shares of iRhythm Technologies in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Wednesday, October 8th. BTIG Research lifted their price objective on iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Robert W. Baird upped their target price on iRhythm Technologies from $180.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, October 10th.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, CFO Daniel G. Wilson sold 8,000 shares of iRhythm Technologies stock in a transaction on Friday, October 31st. The shares were sold at an average price of $207.44, for a total value of $1,659,520.00. Following the transaction, the chief financial officer owned 26,470 shares in the company, valued at $5,490,936.80. This trade represents a 23.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Quentin S. Blackford sold 14,059 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $182.94, for a total transaction of $2,571,953.46. Following the sale, the chief executive officer directly owned 164,979 shares of the company’s stock, valued at $30,181,258.26. This represents a 7.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 24,817 shares of company stock valued at $4,741,235. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. US Bancorp DE grew its position in iRhythm Technologies by 7.8% during the third quarter. US Bancorp DE now owns 1,042 shares of the company’s stock valued at $179,000 after acquiring an additional 75 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of iRhythm Technologies by 2.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,256 shares of the company’s stock valued at $501,000 after purchasing an additional 93 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of iRhythm Technologies by 0.3% during the 3rd quarter. Alliancebernstein L.P. now owns 37,489 shares of the company’s stock worth $6,448,000 after purchasing an additional 95 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of iRhythm Technologies by 100.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after purchasing an additional 99 shares during the period. Finally, California State Teachers Retirement System raised its holdings in iRhythm Technologies by 0.3% in the second quarter. California State Teachers Retirement System now owns 28,917 shares of the company’s stock valued at $4,452,000 after buying an additional 99 shares during the period.

iRhythm Technologies Stock Up 1.1%

Shares of NASDAQ:IRTC opened at $178.60 on Tuesday. The company has a quick ratio of 4.50, a current ratio of 4.63 and a debt-to-equity ratio of 5.32. iRhythm Technologies has a 52-week low of $86.19 and a 52-week high of $212.00. The stock’s fifty day simple moving average is $177.42 and its 200-day simple moving average is $166.34. The company has a market capitalization of $5.75 billion, a P/E ratio of -110.93 and a beta of 1.10.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.30. The firm had revenue of $192.88 million during the quarter, compared to analysts’ expectations of $184.75 million. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The firm’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same quarter last year, the business posted ($1.26) EPS. As a group, equities research analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

About iRhythm Technologies

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.