iRhythm Technologies (NASDAQ:IRTC) Given Consensus Rating of "Moderate Buy" by Analysts

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $138.60.

IRTC has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Robert W. Baird increased their target price on shares of iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Citigroup raised their price objective on shares of iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley raised their price objective on shares of iRhythm Technologies from $130.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Finally, Wells Fargo & Company upgraded shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $104.00 to $130.00 in a research report on Friday, May 2nd.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $139.22 on Tuesday. The firm has a 50-day moving average price of $141.36 and a 200 day moving average price of $116.76. The firm has a market capitalization of $4.44 billion, a PE ratio of -44.34 and a beta of 1.41. The company has a quick ratio of 5.58, a current ratio of 5.71 and a debt-to-equity ratio of 7.47. iRhythm Technologies has a 52-week low of $55.92 and a 52-week high of $157.13.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). The company had revenue of $158.68 million during the quarter, compared to the consensus estimate of $153.39 million. iRhythm Technologies had a negative net margin of 15.90% and a negative return on equity of 101.04%. The business's quarterly 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. On average, sell-side analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, EVP Minang Turakhia sold 1,420 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $145.41, for a total transaction of $206,482.20. Following the completion of the sale, the executive vice president directly owned 41,393 shares of the company's stock, valued at approximately $6,018,956.13. This represents a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad Patterson sold 936 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $150.00, for a total transaction of $140,400.00. Following the sale, the insider directly owned 48,929 shares of the company's stock, valued at $7,339,350. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,356 shares of company stock valued at $796,882. 0.68% of the stock is currently owned by corporate insiders.

Institutional Trading of iRhythm Technologies

Hedge funds have recently made changes to their positions in the stock. MCF Advisors LLC purchased a new stake in shares of iRhythm Technologies in the first quarter worth approximately $25,000. AlphaQuest LLC purchased a new stake in shares of iRhythm Technologies in the first quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of iRhythm Technologies in the first quarter worth approximately $50,000. CWM LLC lifted its position in shares of iRhythm Technologies by 54.3% in the first quarter. CWM LLC now owns 517 shares of the company's stock worth $54,000 after purchasing an additional 182 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of iRhythm Technologies in the fourth quarter worth approximately $60,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.