iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives $136.45 Average Price Target from Analysts

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $136.45.

A number of brokerages have issued reports on IRTC. Truist Financial upped their target price on iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Canaccord Genuity Group lowered their price objective on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Needham & Company LLC raised their price objective on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a report on Friday, May 2nd. The Goldman Sachs Group boosted their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a report on Monday, February 24th. Finally, Morgan Stanley upped their price target on shares of iRhythm Technologies from $130.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday.

iRhythm Technologies Price Performance

IRTC stock traded down $1.63 during trading on Friday, reaching $143.85. 315,736 shares of the company were exchanged, compared to its average volume of 481,618. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of -39.52 and a beta of 1.40. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The company has a 50-day moving average of $125.86 and a two-hundred day moving average of $109.32. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $150.00.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its 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 for the quarter, compared to the consensus estimate of $153.39 million. During the same period in the previous year, the firm posted ($1.23) EPS. The business's quarterly revenue was up 20.3% compared to the same quarter last year. As a group, equities analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iRhythm Technologies

Several large investors have recently modified their holdings of the company. MCF Advisors LLC bought a new stake in iRhythm Technologies during the first quarter valued at $25,000. AlphaQuest LLC acquired a new position in shares of iRhythm Technologies in the 1st quarter valued at about $30,000. Van ECK Associates Corp lifted its stake in shares of iRhythm Technologies by 41.3% in the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company's stock valued at $50,000 after purchasing an additional 162 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of iRhythm Technologies during the 1st quarter valued at about $50,000. Finally, CWM LLC grew its stake in iRhythm Technologies by 54.3% during the first quarter. CWM LLC now owns 517 shares of the company's stock worth $54,000 after purchasing an additional 182 shares during the period.

About iRhythm Technologies

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.