iRhythm Technologies, Inc. (NASDAQ:IRTC) Given Consensus Rating of "Buy" by Brokerages

iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) has been assigned an average recommendation of "Buy" from the eight research firms that are covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $135.11.

Several research analysts have recently weighed in on IRTC shares. Needham & Company LLC boosted their target price on iRhythm Technologies from $136.00 to $137.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. Canaccord Genuity Group boosted their target price on iRhythm Technologies from $121.00 to $133.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. JPMorgan Chase & Co. decreased their price objective on iRhythm Technologies from $142.00 to $133.00 and set an "overweight" rating on the stock in a report on Friday, February 23rd. Finally, Truist Financial upped their price objective on iRhythm Technologies from $115.00 to $133.00 and gave the company a "buy" rating in a report on Friday, December 22nd.

iRhythm Technologies Price Performance

NASDAQ:IRTC traded down $1.72 during trading hours on Friday, hitting $113.12. 209,414 shares of the stock were exchanged, compared to its average volume of 486,678. iRhythm Technologies has a 52-week low of $70.24 and a 52-week high of $140.23. The firm's fifty day moving average price is $112.32 and its 200 day moving average price is $100.71. The company has a current ratio of 2.15, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.50 billion, a P/E ratio of -27.93 and a beta of 1.30.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.66). iRhythm Technologies had a negative return on equity of 56.38% and a negative net margin of 25.05%. The firm had revenue of $132.51 million for the quarter, compared to analysts' expectations of $131.14 million. As a group, equities research analysts anticipate that iRhythm Technologies will post -3.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 24,701 shares of the company's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $3,012,533.96. Following the transaction, the chief executive officer now directly owns 180,015 shares in the company, valued at $21,954,629.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Mark J. Day sold 1,475 shares of the company's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $179,891.00. Following the sale, the chief technology officer now owns 64,412 shares of the company's stock, valued at $7,855,687.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Quentin S. Blackford sold 24,701 shares of the company's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $3,012,533.96. Following the sale, the chief executive officer now directly owns 180,015 shares in the company, valued at approximately $21,954,629.40. The disclosure for this sale can be found here. Insiders have sold 35,052 shares of company stock worth $4,274,942 over the last ninety days. Corporate insiders own 0.43% of the company's stock.

Institutional Trading of iRhythm Technologies

A number of large investors have recently modified their holdings of the stock. US Bancorp DE increased its holdings in iRhythm Technologies by 3.7% in the first quarter. US Bancorp DE now owns 4,012 shares of the company's stock valued at $632,000 after buying an additional 144 shares during the last quarter. MetLife Investment Management LLC increased its holdings in iRhythm Technologies by 49.2% in the first quarter. MetLife Investment Management LLC now owns 15,778 shares of the company's stock valued at $2,485,000 after buying an additional 5,205 shares during the last quarter. BlackRock Inc. increased its holdings in iRhythm Technologies by 0.4% in the first quarter. BlackRock Inc. now owns 2,093,147 shares of the company's stock valued at $329,607,000 after buying an additional 8,440 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in iRhythm Technologies by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 68,492 shares of the company's stock valued at $10,783,000 after buying an additional 2,603 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new position in iRhythm Technologies in the first quarter valued at $248,000.

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.