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

iRhythm Technologies logo with Medical background

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.

View Our Latest Stock Analysis on IRTC

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

(Get Free Report

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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