iRhythm Technologies (NASDAQ:IRTC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of iRhythm Technologies (NASDAQ:IRTC) have received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eleven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $219.2308.

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of iRhythm Technologies in a research report on Wednesday, October 8th. Evercore ISI raised iRhythm Technologies from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $194.00 to $210.00 in a research report on Monday, January 5th. The Goldman Sachs Group lifted their price target on iRhythm Technologies from $180.00 to $202.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $244.00 price objective on shares of iRhythm Technologies in a research note on Monday, January 12th. Finally, Wells Fargo & Company raised their price objective on iRhythm Technologies from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th.

Insider Activity at iRhythm Technologies

In related news, CFO Daniel G. Wilson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $207.44, for a total transaction of $1,659,520.00. Following the transaction, the chief financial officer directly owned 26,470 shares of the company’s stock, valued at approximately $5,490,936.80. The trade was a 23.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chad Patterson sold 280 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total transaction of $51,752.40. Following the completion of the sale, the insider owned 43,387 shares of the company’s stock, valued at approximately $8,019,219.21. The trade was a 0.64% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 24,817 shares of company stock valued at $4,741,235. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark Inc. increased its position in iRhythm Technologies by 52.0% in the 4th quarter. Assetmark Inc. now owns 631 shares of the company’s stock worth $112,000 after purchasing an additional 216 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of iRhythm Technologies in the 4th quarter valued at approximately $417,000. Ascent Group LLC increased its holdings in iRhythm Technologies by 0.7% in the fourth quarter. Ascent Group LLC now owns 9,587 shares of the company’s stock worth $1,701,000 after buying an additional 70 shares during the last quarter. SteelPeak Wealth LLC raised its position in iRhythm Technologies by 18.4% during the fourth quarter. SteelPeak Wealth LLC now owns 5,224 shares of the company’s stock valued at $927,000 after acquiring an additional 811 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in iRhythm Technologies by 15.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 8,120 shares of the company’s stock valued at $1,441,000 after acquiring an additional 1,078 shares during the last quarter.

iRhythm Technologies Stock Performance

IRTC opened at $160.34 on Friday. The company has a quick ratio of 4.50, a current ratio of 4.63 and a debt-to-equity ratio of 5.32. The firm has a market cap of $5.17 billion, a PE ratio of -99.59 and a beta of 1.12. The business has a fifty day simple moving average of $174.88 and a 200-day simple moving average of $169.46. iRhythm Technologies has a fifty-two week low of $92.52 and a fifty-two week high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.30. The company had revenue of $192.88 million during the quarter, compared to analyst estimates of $184.75 million. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 41.86%. The business’s quarterly revenue was up 30.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.26) earnings per share. 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 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.