iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $119.73.

Several equities research analysts recently issued reports on IRTC shares. Canaccord Genuity Group raised their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Truist Financial raised their price target on iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Needham & Company LLC upped their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company raised their target price on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Finally, Oppenheimer upped their price target on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th.

iRhythm Technologies Trading Down 5.3 %

Shares of NASDAQ:IRTC opened at $100.34 on Friday. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $128.52. The company has a market cap of $3.15 billion, a P/E ratio of -27.57 and a beta of 1.45. The stock’s fifty day moving average price is $107.62 and its 200-day moving average price is $91.14.

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

Institutional Investors Weigh In On iRhythm Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of iRhythm Technologies in the fourth quarter worth approximately $45,000. Van ECK Associates Corp lifted its stake in shares of iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after buying an additional 162 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of iRhythm Technologies during the 4th quarter valued at $60,000. Quarry LP bought a new position in iRhythm Technologies in the 3rd quarter worth $59,000. Finally, Nisa Investment Advisors LLC increased its stake in iRhythm Technologies by 166.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock worth $94,000 after buying an additional 648 shares in the last quarter.

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.