iRhythm Technologies, Inc. (NASDAQ:IRTC) Given Consensus Recommendation of “Buy” by Brokerages

iRhythm Technologies, Inc. (NASDAQ:IRTC) has been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued a report on the stock in the last year is $131.22.

IRTC has been the topic of a number of analyst reports. Needham & Company LLC lifted their price objective on shares of iRhythm Technologies from $137.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Canaccord Genuity Group reduced their target price on iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Finally, Wolfe Research raised 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.

Insider Transactions at iRhythm Technologies

In other news, CAO Marc W. Rosenbaum sold 510 shares of iRhythm Technologies stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $88.91, for a total transaction of $45,344.10. Following the completion of the transaction, the chief accounting officer now owns 8,174 shares of the company’s stock, valued at approximately $726,750.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Marc W. Rosenbaum sold 510 shares of iRhythm Technologies stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $88.91, for a total transaction of $45,344.10. Following the completion of the transaction, the chief accounting officer now owns 8,174 shares of the company’s stock, valued at approximately $726,750.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sumi Shrishrimal sold 1,131 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $88.91, for a total transaction of $100,557.21. Following the completion of the transaction, the executive vice president now directly owns 23,298 shares of the company’s stock, valued at approximately $2,071,425.18. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in shares of iRhythm Technologies by 285.2% during the 3rd quarter. Covestor Ltd now owns 312 shares of the company’s stock valued at $29,000 after acquiring an additional 231 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of iRhythm Technologies by 10,650.0% during the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after acquiring an additional 426 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of iRhythm Technologies during the 4th quarter valued at about $92,000. SG Americas Securities LLC acquired a new position in shares of iRhythm Technologies during the 1st quarter valued at about $126,000. Finally, Quent Capital LLC acquired a new position in shares of iRhythm Technologies during the 4th quarter valued at about $161,000.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $104.38 on Friday. The company has a current ratio of 7.10, a quick ratio of 6.95 and a debt-to-equity ratio of 7.13. The firm has a market cap of $3.25 billion, a PE ratio of -24.68 and a beta of 1.24. The company’s 50 day simple moving average is $99.19 and its 200-day simple moving average is $106.73. iRhythm Technologies has a 12-month low of $70.24 and a 12-month high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($1.47) earnings per share 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. As a group, equities analysts predict that iRhythm Technologies will post -3.22 EPS for the current 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.