iRhythm Technologies' (IRTC) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• iRhythm Technologies (NASDAQ: IRTC) has had its "sell (D-)" rating reaffirmed by Weiss Ratings, indicating a negative outlook for the company's stock.
• Despite the negative rating from Weiss, other analysts are more optimistic, with William Blair upgrading it to "strong-buy" and various firms increasing their price targets, leading to an average target price of $173.17.
• iRhythm reported a 26.1% year-over-year revenue growth in its latest quarter, with revenue hitting $186.69 million, alongside narrowing its losses with an EPS of ($0.32), beating estimates.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report)'s stock had its "sell (d-)" rating reiterated by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

IRTC has been the subject of a number of other reports. William Blair upgraded shares of iRhythm Technologies to a "strong-buy" rating in a report on Friday, August 1st. Canaccord Genuity Group boosted their price objective on shares of iRhythm Technologies from $170.00 to $193.00 and gave the stock a "buy" rating in a report on Monday, September 29th. The Goldman Sachs Group boosted their price objective on shares of iRhythm Technologies from $158.00 to $180.00 and gave the stock a "neutral" rating in a report on Wednesday, October 1st. Wells Fargo & Company boosted their price objective on shares of iRhythm Technologies from $130.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Needham & Company LLC boosted their price objective on shares of iRhythm Technologies from $180.00 to $193.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, iRhythm Technologies currently has an average rating of "Moderate Buy" and an average target price of $173.17.

iRhythm Technologies Trading Up 0.8%

Shares of iRhythm Technologies stock opened at $179.00 on Wednesday. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $187.57. The firm has a market cap of $5.75 billion, a PE ratio of -61.09 and a beta of 1.15. The company has a debt-to-equity ratio of 6.25, a current ratio of 5.02 and a quick ratio of 4.88. The company has a 50 day simple moving average of $170.35 and a two-hundred day simple moving average of $143.24.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.21. iRhythm Technologies had a negative net margin of 14.06% and a negative return on equity of 90.03%. The business had revenue of $186.69 million during the quarter, compared to analyst estimates of $173.94 million. During the same period in the previous year, the business posted ($0.61) earnings per share. iRhythm Technologies's revenue for the quarter was up 26.1% on a year-over-year basis. iRhythm Technologies has set its FY 2025 guidance at EPS. Analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Abhijit Y. Talwalkar sold 5,312 shares of iRhythm Technologies stock in a transaction on Monday, August 11th. The shares were sold at an average price of $158.02, for a total value of $839,402.24. Following the transaction, the director directly owned 20,299 shares of the company's stock, valued at $3,207,647.98. The trade was a 20.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chad Patterson sold 2,707 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $164.36, for a total transaction of $444,922.52. Following the transaction, the insider directly owned 46,222 shares in the company, valued at approximately $7,597,047.92. The trade was a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,069 shares of company stock valued at $7,627,986 over the last quarter. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. purchased a new position in iRhythm Technologies during the 3rd quarter valued at $13,394,000. Osaic Holdings Inc. grew its position in shares of iRhythm Technologies by 507.3% in the 2nd quarter. Osaic Holdings Inc. now owns 9,292 shares of the company's stock worth $1,431,000 after buying an additional 7,762 shares during the period. State of Wyoming purchased a new stake in shares of iRhythm Technologies in the 2nd quarter worth about $179,000. Tower Research Capital LLC TRC grew its position in shares of iRhythm Technologies by 296.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,842 shares of the company's stock worth $592,000 after buying an additional 2,873 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of iRhythm Technologies by 38.1% in the 2nd quarter. Captrust Financial Advisors now owns 5,760 shares of the company's stock worth $887,000 after buying an additional 1,588 shares during the period.

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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