iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eleven analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $136.45.

Several research analysts have issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, February 24th. Citigroup lifted their price target on shares of iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Wells Fargo & Company upgraded shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $104.00 to $130.00 in a research report on Friday, May 2nd. Wall Street Zen lowered shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Finally, Truist Financial lifted their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, February 21st.

Institutional Investors Weigh In On iRhythm Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its stake in shares of iRhythm Technologies by 9.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 570,048 shares of the company's stock valued at $50,991,000 after purchasing an additional 50,075 shares during the last quarter. Invesco Ltd. lifted its stake in shares of iRhythm Technologies by 1.1% in the 4th quarter. Invesco Ltd. now owns 19,200 shares of the company's stock valued at $1,731,000 after purchasing an additional 207 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of iRhythm Technologies by 23.2% in the 4th quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company's stock valued at $44,317,000 after purchasing an additional 92,591 shares during the last quarter. Banque Pictet & Cie SA lifted its stake in shares of iRhythm Technologies by 12.7% in the 4th quarter. Banque Pictet & Cie SA now owns 59,264 shares of the company's stock valued at $5,344,000 after purchasing an additional 6,696 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of iRhythm Technologies by 32.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,980 shares of the company's stock valued at $449,000 after purchasing an additional 1,215 shares during the last quarter.

iRhythm Technologies Trading Up 0.7%

IRTC traded up $0.96 on Friday, reaching $144.81. 352,978 shares of the company's stock were exchanged, compared to its average volume of 483,006. The company has a market cap of $4.62 billion, a price-to-earnings ratio of -39.78 and a beta of 1.40. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $150.00. The company's 50 day moving average is $127.76 and its 200-day moving average is $110.43. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released 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 net margin of 19.14% and a negative return on equity of 118.83%. The business had revenue of $158.68 million for the quarter, compared to the consensus estimate of $153.39 million. During the same period last year, the firm posted ($1.23) EPS. The business's quarterly revenue was up 20.3% on a year-over-year basis. Equities analysts predict that iRhythm Technologies will post -1.98 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.