iRhythm Technologies (NASDAQ:IRTC) Receives Average Rating of "Moderate Buy" from Brokerages

iRhythm Technologies (NASDAQ:IRTC) has received a "Moderate Buy" consensus from 15 research firms, with an average 1-year target price of $205.71. Recent ratings include Goldman Sachs' "neutral" at $202, and Citigroup's "buy" at $242. Insider trading saw significant stock sales, and institutional investors have adjusted their positions. The stock opened at $181.35, with a 52-week range of $81.10 to $212.00.

Shares of iRhythm Technologies (NASDAQ:IRTC - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the fifteen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $205.7143.

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Several brokerages have recently weighed in on IRTC. The Goldman Sachs Group lifted their price objective on iRhythm Technologies from $180.00 to $202.00 and gave the stock a "neutral" rating in a report on Friday, October 31st. Bank of America began coverage on shares of iRhythm Technologies in a research note on Wednesday, August 20th. They issued a "buy" rating and a $200.00 target price for the company. Truist Financial boosted their price objective on shares of iRhythm Technologies from $175.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, October 15th. BTIG Research increased their price objective on shares of iRhythm Technologies from $195.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, October 31st. Finally, Citigroup boosted their price target on iRhythm Technologies from $205.00 to $242.00 and gave the stock a "buy" rating in a research report on Friday, October 31st.

View Our Latest Research Report on IRTC

Insider Buying and Selling at iRhythm Technologies

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In other news, insider Patrick Michael Murphy sold 2,478 shares of the firm's stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total value of $458,008.74. Following the sale, the insider directly owned 53,281 shares in the company, valued at approximately $9,847,927.23. This trade represents a 4.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chad Patterson sold 280 shares of the company's stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total value of $51,752.40. Following the completion of the transaction, the insider directly owned 43,387 shares of the company's stock, valued at $8,019,219.21. This represents a 0.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,817 shares of company stock valued at $4,741,235 in the last three months. Corporate insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

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

iRhythm Technologies Stock Performance

IRTC opened at $181.35 on Friday. iRhythm Technologies has a fifty-two week low of $81.10 and a fifty-two week high of $212.00. 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 $5.84 billion, a PE ratio of -112.64 and a beta of 1.10. The business has a fifty day simple moving average of $178.25 and a 200-day simple moving average of $162.53.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.36) by $0.30. The company had revenue of $192.88 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.26) EPS. As a group, equities analysts predict that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

iRhythm Technologies Company Profile

(Get Free Report)

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.

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