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

iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $128.55.

A number of research firms recently commented on IRTC. Wells Fargo & Company raised shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $104.00 to $130.00 in a research note on Friday, May 2nd. Canaccord Genuity Group reduced their target price on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Needham & Company LLC raised their target price on iRhythm Technologies from $138.00 to $151.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Truist Financial upped their price target on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, StockNews.com downgraded iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th.

iRhythm Technologies Stock Down 0.0%

Shares of iRhythm Technologies stock opened at $141.00 on Monday. iRhythm Technologies has a 12-month low of $55.92 and a 12-month high of $142.68. The firm has a market capitalization of $4.50 billion, a PE ratio of -38.74 and a beta of 1.34. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The stock's fifty day moving average is $110.66 and its 200-day moving average is $101.47.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The company had revenue of $158.68 million during the quarter, compared to analysts' expectations of $153.39 million. During the same period in the prior year, the business posted ($1.23) EPS. The company's revenue for the quarter was up 20.3% compared to the same quarter last year. Equities analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current year.

Institutional Investors Weigh In On iRhythm Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. MCF Advisors LLC acquired a new position in iRhythm Technologies in the first quarter worth approximately $25,000. AlphaQuest LLC bought a new stake in iRhythm Technologies in the first quarter worth approximately $30,000. R Squared Ltd acquired a new position in shares of iRhythm Technologies during the 4th quarter worth $45,000. Van ECK Associates Corp increased its stake in shares of iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after purchasing an additional 162 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of iRhythm Technologies during the 1st quarter valued at $50,000.

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.

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