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

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $116.10.

IRTC has been the topic of a number of recent research reports. Robert W. Baird reduced their price target on shares of iRhythm Technologies from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. The Goldman Sachs Group began coverage on iRhythm Technologies in a research report on Friday. They issued a “neutral” rating and a $78.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Needham & Company LLC cut their price objective on shares of iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd.

Insider Activity

In related news, insider Chad Patterson sold 3,012 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $224,875.92. Following the completion of the sale, the insider now directly owns 37,133 shares in the company, valued at approximately $2,772,349.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Mervin Smith sold 688 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $51,366.08. Following the completion of the transaction, the executive vice president now owns 10,360 shares of the company’s stock, valued at approximately $773,477.60. This trade represents a 0.00 % 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 3,012 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $224,875.92. Following the completion of the sale, the insider now owns 37,133 shares of the company’s stock, valued at $2,772,349.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,072 shares of company stock worth $372,748. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On iRhythm Technologies

Several hedge funds have recently bought and sold shares of IRTC. Headlands Technologies LLC grew its stake in iRhythm Technologies by 10,650.0% in the first quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after purchasing an additional 426 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of iRhythm Technologies by 79.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after purchasing an additional 277 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of iRhythm Technologies in the 1st quarter valued at $126,000. Russell Investments Group Ltd. boosted its holdings in iRhythm Technologies by 79,700.0% in the first 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 in the last quarter. Finally, SeaCrest Wealth Management LLC increased its position in iRhythm Technologies by 7.6% during the second quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock worth $229,000 after buying an additional 150 shares during the last quarter.

iRhythm Technologies Trading Down 5.4 %

IRTC opened at $62.71 on Friday. The stock has a market capitalization of $1.95 billion, a PE ratio of -14.83 and a beta of 1.22. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76. iRhythm Technologies has a 12-month low of $60.88 and a 12-month high of $124.11. The firm’s fifty day moving average price is $71.54 and its 200 day moving average price is $91.31.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.28. iRhythm Technologies had a negative return on equity of 84.14% and a negative net margin of 24.50%. The firm had revenue of $148.05 million for the quarter, compared to analysts’ expectations of $146.15 million. During the same quarter in the prior year, the firm posted ($0.61) earnings per share. iRhythm Technologies’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, research analysts expect that iRhythm Technologies will post -2.66 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.