iRhythm Technologies - IRTC Stock Forecast, Price & News

iRhythm Technologies, Inc., a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias. The company's Zio XT and AT monitors, a single-use, wire-free, and wearable patch-based biosensors, records patient's heartbeats and ECG data. It has a development collaboration agreement with Verily Life Sciences LLC to develop various next-generation atrial fibrillation screening, detection, or monitoring products. The company was incorporated in 2006 and is headquartered in San Francisco, California.

Wall Street Analyst Weigh In

IRTC has been the subject of several recent analyst reports. Citigroup increased their price objective on shares of iRhythm Technologies to $157.00 in a research report on Tuesday, August 9th. Truist Financial decreased their price objective on shares of iRhythm Technologies from $200.00 to $165.00 and set a "buy" rating for the company in a research report on Thursday, June 16th. BTIG Research increased their price objective on shares of iRhythm Technologies from $155.00 to $178.00 and gave the stock a "buy" rating in a research report on Friday, August 5th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a $135.00 price objective (down from $183.00) on shares of iRhythm Technologies in a research report on Wednesday, June 22nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, iRhythm Technologies presently has an average rating of "Moderate Buy" and an average price target of $155.75.

iRhythm Technologies Stock Up 0.8 %

iRhythm Technologies stock opened at $152.64 on Tuesday. iRhythm Technologies has a 1-year low of $41.66 and a 1-year high of $169.54. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of -34.53 and a beta of 1.50. The firm's fifty day moving average price is $133.76 and its two-hundred day moving average price is $133.60. The company has a current ratio of 4.04, a quick ratio of 3.84 and a debt-to-equity ratio of 0.14.

iRhythm Technologies (NASDAQ:IRTC - Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.80) earnings per share for the quarter, beating analysts' consensus estimates of ($0.94) by $0.14. iRhythm Technologies had a negative net margin of 36.15% and a negative return on equity of 38.95%. The firm had revenue of $102.10 million for the quarter, compared to analyst estimates of $100.51 million. During the same period last year, the firm earned ($0.59) earnings per share. The business's quarterly revenue was up 25.6% compared to the same quarter last year. On average, equities research analysts predict that iRhythm Technologies will post -3.06 earnings per share for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,428 shares of the firm's stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $108.93, for a total value of $155,552.04. Following the transaction, the executive vice president now directly owns 37,562 shares of the company's stock, valued at $4,091,628.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Daniel G. Wilson sold 1,428 shares of the firm's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $108.93, for a total transaction of $155,552.04. Following the transaction, the executive vice president now directly owns 37,562 shares of the company's stock, valued at $4,091,628.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas Devine sold 10,109 shares of the firm's stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $114.22, for a total transaction of $1,154,649.98. Following the transaction, the chief financial officer now directly owns 29,702 shares in the company, valued at $3,392,562.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,276 shares of company stock valued at $1,501,009. Corporate insiders own 1.64% of the company's stock.