iRhythm Technologies (NASDAQ:IRTC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: Sixteen analysts give iRhythm Technologies a consensus “Moderate Buy” rating, including 12 buys and two strong buys. The average 12-month price target is $179.93.
• Recent earnings exceeded expectations: iRhythm reported quarterly EPS of $0.58 versus the consensus estimate of a $0.04 loss, while revenue reached $224.17 million, up 20.1% year over year.
• Shares remain well below their annual high: The stock opened at $113.66, compared with a 52-week range of $100.85 to $212.00, and the company has a market capitalization of approximately $3.75 billion.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) has received an average recommendation of "Moderate Buy" from the sixteen ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twelve have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $179.93.

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of iRhythm Technologies in a report on Monday, September 14th. Wall Street Zen upgraded iRhythm Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. Needham & Company LLC cut their target price on iRhythm Technologies from $255.00 to $192.00 and set a "buy" rating for the company in a research note on Friday, August 7th. Wells Fargo & Company reduced their price target on iRhythm Technologies from $180.00 to $168.00 and set an "overweight" rating for the company in a report on Tuesday, August 18th. Finally, Truist Financial lifted their price target on iRhythm Technologies from $160.00 to $168.00 and gave the company a "buy" rating in a research note on Monday, August 10th.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $113.66 on Thursday. The firm's fifty day moving average price is $118.59 and its 200 day moving average price is $117.24. iRhythm Technologies has a 1-year low of $100.85 and a 1-year high of $212.00. The company has a debt-to-equity ratio of 3.50, a current ratio of 3.86 and a quick ratio of 3.74. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of -264.33 and a beta of 1.31.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.62. The company had revenue of $224.17 million during the quarter, compared to the consensus estimate of $219.30 million. iRhythm Technologies had a negative net margin of 1.69% and a positive return on equity of 10.11%. iRhythm Technologies's quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.32) EPS. On average, sell-side analysts expect that iRhythm Technologies will post 0.6 EPS for the current year.

Institutional Investors Weigh In On iRhythm Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Investment Advisory LLC acquired a new position in shares of iRhythm Technologies during the 2nd quarter worth $50,000. Assetmark Inc. boosted its holdings in iRhythm Technologies by 30.1% during the first quarter. Assetmark Inc. now owns 821 shares of the company's stock worth $97,000 after buying an additional 190 shares in the last quarter. Group One Trading LLC purchased a new stake in iRhythm Technologies during the first quarter worth about $206,000. MidFirst Bank acquired a new position in iRhythm Technologies during the fourth quarter worth about $235,000. Finally, Nykredit A S purchased a new position in iRhythm Technologies in the second quarter valued at about $236,000.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc is a digital health care company focused on ambulatory cardiac monitoring and the diagnosis of cardiac arrhythmias. The company combines wearable biosensor technology, cloud-based data analysis and clinical services to help physicians detect and manage irregular heart rhythms, including atrial fibrillation.

Its principal products include the Zio monitor portfolio, which is designed for extended, continuous electrocardiogram monitoring in an easy-to-use wearable format.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.