Brokerages Set iRhythm Technologies, Inc. (NASDAQ:IRTC) PT at $113.90

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $108.50.

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of iRhythm Technologies in a research report on Friday, October 4th. They issued a “neutral” rating and a $78.00 target price for the company. Needham & Company LLC cut their price objective on shares of iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Citigroup decreased their target price on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Robert W. Baird cut their price target on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, StockNews.com downgraded iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday, September 27th.

Insider Activity

In related news, CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $77.41, for a total value of $1,249,784.45. Following the completion of the transaction, the chief executive officer now owns 159,929 shares of the company’s stock, valued at $12,380,103.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Quentin S. Blackford sold 16,145 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $77.41, for a total value of $1,249,784.45. Following the completion of the transaction, the chief executive officer now owns 159,929 shares in the company, valued at $12,380,103.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Abhijit Y. Talwalkar bought 6,664 shares of iRhythm Technologies stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $75.16 per share, for a total transaction of $500,866.24. Following the completion of the acquisition, the director now directly owns 18,941 shares in the company, valued at approximately $1,423,605.56. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. increased its stake in shares of iRhythm Technologies by 272.0% in the third quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock valued at $5,935,000 after buying an additional 58,448 shares during the period. Sei Investments Co. increased its position in iRhythm Technologies by 7.0% during the 1st quarter. Sei Investments Co. now owns 235,361 shares of the company’s stock valued at $27,302,000 after purchasing an additional 15,381 shares during the period. Daiwa Securities Group Inc. bought a new position in iRhythm Technologies during the 1st quarter worth approximately $1,925,000. Capstone Investment Advisors LLC acquired a new position in shares of iRhythm Technologies in the 1st quarter worth approximately $1,078,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of iRhythm Technologies by 361.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 48,962 shares of the company’s stock valued at $5,270,000 after purchasing an additional 38,344 shares during the last quarter.

iRhythm Technologies Stock Performance

Shares of IRTC stock opened at $89.50 on Thursday. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $124.11. The company has a 50-day simple moving average of $70.27 and a 200 day simple moving average of $84.49. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The firm had revenue of $147.54 million during the quarter, compared to analyst estimates of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. iRhythm Technologies’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.89) EPS. As a group, equities analysts forecast that iRhythm Technologies will post -3.44 earnings per share 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.