iRhythm Technologies (NASDAQ:IRTC) Receives $138.60 Average Target Price from Analysts

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $138.60.

Several research firms recently commented on IRTC. Citigroup boosted their price objective 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. Robert W. Baird raised their price objective on shares of iRhythm Technologies from $133.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Needham & Company LLC upped their target price on iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Canaccord Genuity Group dropped their price target on iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Wall Street Zen downgraded iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, CFO Daniel G. Wilson sold 3,000 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $150.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief financial officer owned 40,307 shares of the company's stock, valued at approximately $6,046,050. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Minang Turakhia sold 1,420 shares of iRhythm Technologies stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $145.41, for a total value of $206,482.20. Following the completion of the transaction, the executive vice president directly owned 41,393 shares in the company, valued at $6,018,956.13. This represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,356 shares of company stock worth $796,882. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IRTC. Bank Pictet & Cie Europe AG increased its position in shares of iRhythm Technologies by 5.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock worth $297,000 after acquiring an additional 184 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in iRhythm Technologies by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 259,494 shares of the company's stock valued at $23,399,000 after purchasing an additional 3,791 shares during the period. Raymond James Financial Inc. acquired a new position in shares of iRhythm Technologies during the fourth quarter worth about $9,151,000. PNC Financial Services Group Inc. lifted its stake in shares of iRhythm Technologies by 32.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,980 shares of the company's stock worth $449,000 after purchasing an additional 1,215 shares in the last quarter. Finally, Amundi boosted its position in shares of iRhythm Technologies by 8.4% in the fourth quarter. Amundi now owns 102,908 shares of the company's stock worth $9,570,000 after buying an additional 7,941 shares during the period.

iRhythm Technologies Price Performance

IRTC stock traded up $1.23 during trading on Tuesday, reaching $135.94. 562,298 shares of the company were exchanged, compared to its average volume of 488,279. The company has a debt-to-equity ratio of 7.47, a quick ratio of 5.58 and a current ratio of 5.71. The stock's 50 day moving average price is $142.96 and its 200 day moving average price is $117.31. iRhythm Technologies has a 52-week low of $55.92 and a 52-week high of $157.13. The company has a market cap of $4.34 billion, a P/E ratio of -43.29 and a beta of 1.41.

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). The firm had revenue of $158.68 million during the quarter, compared to analyst estimates of $153.39 million. iRhythm Technologies had a negative return on equity of 101.04% and a negative net margin of 15.90%. The business's revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.23) EPS. As a group, analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

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.