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

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $109.27.

IRTC has been the subject of a number of recent analyst reports. StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Canaccord Genuity Group boosted their price objective on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Robert W. Baird lowered their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company restated an “equal weight” rating and issued a $86.00 target price on shares of iRhythm Technologies in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group assumed coverage on iRhythm Technologies in a research note on Friday, October 4th. They issued a “neutral” rating and a $78.00 price target on the stock.

Insider Activity at iRhythm Technologies

In other news, insider Patrick Michael Murphy sold 2,492 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $85.89, for a total transaction of $214,037.88. Following the completion of the transaction, the insider now directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. The trade was a 6.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Quentin S. Blackford sold 16,145 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the transaction, the chief executive officer now directly owns 159,929 shares of the company’s stock, valued at $12,380,103.89. This trade represents a 9.17 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On iRhythm Technologies

Large investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. acquired a new stake in iRhythm Technologies in the second quarter valued at $297,000. Nisa Investment Advisors LLC raised its holdings in iRhythm Technologies by 79.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after purchasing an additional 277 shares during the last quarter. Calamos Advisors LLC acquired a new stake in iRhythm Technologies during the 2nd quarter worth about $656,000. IMA Advisory Services Inc. bought a new position in shares of iRhythm Technologies during the 2nd quarter worth approximately $538,000. Finally, EFG Asset Management North America Corp. acquired a new position in shares of iRhythm Technologies during the second quarter valued at about $643,000.

iRhythm Technologies Stock Up 2.0 %

IRTC opened at $87.66 on Friday. The stock’s 50 day moving average price is $79.71 and its 200 day moving average price is $81.24. The stock has a market cap of $2.74 billion, a P/E ratio of -18.04 and a beta of 1.26. 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 12 month low of $55.92 and a 12 month high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly 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). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The business had revenue of $147.54 million during the quarter, compared to the consensus estimate of $146.69 million. During the same quarter last year, the firm posted ($0.89) earnings per share. iRhythm Technologies’s revenue was up 18.4% compared to the same quarter last year. As a group, research analysts predict that iRhythm Technologies will post -3.44 earnings per share 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.