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

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) have been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $119.73.

Several analysts have recently issued reports on IRTC shares. Canaccord Genuity Group increased their price target on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company upped their target price on shares of iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. The Goldman Sachs Group upped their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Needham & Company LLC upped their target price on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Oppenheimer upped their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th.

iRhythm Technologies Stock Up 0.4 %

Shares of IRTC opened at $101.75 on Wednesday. The stock has a market capitalization of $3.20 billion, a PE ratio of -27.95 and a beta of 1.36. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $128.52. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The company’s 50-day simple moving average is $105.66 and its 200-day simple moving average is $86.64.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.30. The business had revenue of $164.33 million for the quarter, compared to analysts’ expectations of $158.30 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. Analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iRhythm Technologies

Large investors have recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of iRhythm Technologies in the fourth quarter valued at approximately $45,000. Van ECK Associates Corp boosted its holdings in shares of iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after acquiring an additional 162 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of iRhythm Technologies in the fourth quarter valued at approximately $60,000. Quarry LP acquired a new stake in shares of iRhythm Technologies in the third quarter valued at approximately $59,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of iRhythm Technologies by 166.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock valued at $94,000 after acquiring an additional 648 shares during the period.

About iRhythm Technologies

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.