Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Free Report) have been given an average rating of “Buy” by the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $130.88.
A number of research firms have recently weighed in on IRTC. Morgan Stanley reduced their target price on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Canaccord Genuity Group decreased their target price on shares of iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Wolfe Research upgraded shares of iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 target price for the company in a report on Thursday, June 20th. Truist Financial cut their price target on iRhythm Technologies from $145.00 to $134.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Finally, Needham & Company LLC lifted their price objective on iRhythm Technologies from $137.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, May 3rd.
View Our Latest Report on iRhythm Technologies
Insider Buying and Selling at iRhythm Technologies
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in IRTC. Westfield Capital Management Co. LP bought a new stake in iRhythm Technologies during the 1st quarter worth approximately $58,311,000. Champlain Investment Partners LLC lifted its stake in shares of iRhythm Technologies by 104.1% during the 1st quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock valued at $66,793,000 after buying an additional 293,710 shares in the last quarter. First Light Asset Management LLC boosted its holdings in iRhythm Technologies by 176.8% in the 1st quarter. First Light Asset Management LLC now owns 420,892 shares of the company’s stock worth $48,823,000 after buying an additional 268,829 shares during the period. Norges Bank purchased a new stake in iRhythm Technologies in the 4th quarter worth $26,522,000. Finally, Capital Research Global Investors raised its holdings in iRhythm Technologies by 5.1% during the fourth quarter. Capital Research Global Investors now owns 2,495,626 shares of the company’s stock valued at $267,132,000 after acquiring an additional 121,709 shares during the period.
iRhythm Technologies Stock Performance
Shares of IRTC opened at $88.57 on Tuesday. The company has a 50-day simple moving average of $95.73 and a two-hundred day simple moving average of $105.74. The company has a debt-to-equity ratio of 7.13, a current ratio of 7.10 and a quick ratio of 6.95. The firm has a market capitalization of $2.75 billion, a PE ratio of -20.94 and a beta of 1.24. iRhythm Technologies has a one year low of $70.24 and a one year high of $124.11.
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($1.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.48). iRhythm Technologies had a negative net margin of 25.33% and a negative return on equity of 69.87%. The firm had revenue of $131.93 million during the quarter, compared to analysts’ expectations of $128.87 million. On average, analysts anticipate that iRhythm Technologies will post -3.22 EPS for the current fiscal year.
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.
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