iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives Consensus Recommendation of "Moderate Buy" from Brokerages – MarketBeat

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iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) has been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $146.18.
IRTC has been the subject of several research reports. Truist Financial lowered their price objective on shares of iRhythm Technologies from $200.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, June 16th. BTIG Research lowered their price objective on shares of iRhythm Technologies from $180.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, June 24th. Citigroup lowered shares of iRhythm Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $180.00 to $155.00 in a research report on Thursday, June 9th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $135.00 price objective (down previously from $183.00) on shares of iRhythm Technologies in a research report on Wednesday, June 22nd. Finally, Wolfe Research initiated coverage on shares of iRhythm Technologies in a research report on Tuesday, April 5th. They set an “underperform” rating and a $105.00 price objective for the company.
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Shares of NASDAQ:IRTC opened at $112.25 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.43 and a current ratio of 4.63. The firm has a fifty day moving average price of $127.15 and a 200 day moving average price of $129.19. iRhythm Technologies has a fifty-two week low of $41.66 and a fifty-two week high of $169.54. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of -26.66 and a beta of 1.34.
iRhythm Technologies (NASDAQ:IRTC – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.26. iRhythm Technologies had a negative net margin of 36.43% and a negative return on equity of 34.55%. The firm had revenue of $92.40 million during the quarter, compared to analyst estimates of $86.76 million. During the same quarter in the prior year, the business earned ($0.95) earnings per share. iRhythm Technologies’s revenue for the quarter was up 24.4% on a year-over-year basis. As a group, research analysts predict that iRhythm Technologies will post -3.26 earnings per share for the current year.
In related news, Director Merz Cathleen Noel Bairey sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $111.76, for a total value of $55,880.00. Following the transaction, the director now owns 4,977 shares of the company’s stock, valued at approximately $556,229.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.64% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in iRhythm Technologies by 136.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 35,352 shares of the company’s stock worth $5,426,000 after buying an additional 20,399 shares during the period. Capital Research Global Investors increased its stake in iRhythm Technologies by 60.9% in the 1st quarter. Capital Research Global Investors now owns 1,411,300 shares of the company’s stock worth $222,237,000 after buying an additional 534,300 shares during the period. Western Standard LLC increased its stake in iRhythm Technologies by 118.5% in the 1st quarter. Western Standard LLC now owns 47,200 shares of the company’s stock worth $5,823,000 after buying an additional 25,600 shares during the period. Polar Asset Management Partners Inc. increased its stake in iRhythm Technologies by 21.2% in the 1st quarter. Polar Asset Management Partners Inc. now owns 155,600 shares of the company’s stock worth $24,502,000 after buying an additional 27,200 shares during the period. Finally, Polar Capital Holdings Plc purchased a new position in iRhythm Technologies during the 1st quarter valued at about $1,526,000. 97.92% of the stock is currently owned by institutional investors.
iRhythm Technologies Company Profile (Get Rating)
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
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