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

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

iRhythm Technologies Trading Up 1.4 %

Shares of IRTC traded up $2.08 during mid-day trading on Thursday, reaching $151.80. The company's stock had a trading volume of 268,496 shares, compared to its average volume of 399,665. iRhythm Technologies has a 52 week low of $41.66 and a 52 week high of $169.54. The stock has a market cap of $4.56 billion, a PE ratio of -34.36 and a beta of 1.50. The company's fifty day moving average price is $133.43 and its two-hundred day moving average price is $132.97. The company has a current ratio of 4.04, a quick ratio of 4.43 and a debt-to-equity ratio of 0.14.

iRhythm Technologies (NASDAQ:IRTC - Get Rating) last issued its earnings results on Thursday, August 4th. The company reported ($0.80) EPS for the quarter, topping 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 company had revenue of $102.10 million for the quarter, compared to analysts' expectations of $100.51 million. During the same quarter last year, the company earned ($0.59) EPS. The firm's revenue was up 25.6% compared to the same quarter last year. On average, analysts predict that iRhythm Technologies will post -3.06 earnings per share for the current fiscal year.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, Director Merz Cathleen Noel Bairey sold 500 shares of iRhythm Technologies stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $111.76, for a total value of $55,880.00. Following the transaction, the director now directly owns 4,977 shares of the company's stock, valued at approximately $556,229.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other iRhythm Technologies news, Director Merz Cathleen Noel Bairey sold 500 shares of the stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $111.76, for a total transaction of $55,880.00. Following the completion of the sale, the director now owns 4,977 shares of the company's stock, valued at approximately $556,229.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas Devine sold 1,239 shares of the business's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $108.90, for a total transaction of $134,927.10. Following the completion of the transaction, the chief financial officer now owns 39,811 shares in the company, valued at approximately $4,335,417.90. The disclosure for this sale can be found here. Insiders sold 13,276 shares of company stock worth $1,501,009 in the last ninety days. 1.64% of the stock is owned by company insiders.