iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives $135.00 Consensus Target Price from Analysts

iRhythm Technologies, Inc. (NASDAQ:IRTCGet Free Report) has been assigned a consensus rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $135.00.

Several equities research analysts have weighed in on the company. Truist Financial upped their target price on iRhythm Technologies from $115.00 to $133.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Needham & Company LLC upped their price objective on iRhythm Technologies from $108.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. Citigroup upgraded iRhythm Technologies from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Monday, December 11th. StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Finally, Morgan Stanley decreased their price objective on iRhythm Technologies from $149.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, October 11th.

View Our Latest Research Report on iRhythm Technologies

iRhythm Technologies Price Performance

Shares of IRTC stock opened at $123.61 on Tuesday. iRhythm Technologies has a twelve month low of $70.24 and a twelve month high of $140.23. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of -35.73 and a beta of 1.38. The stock has a fifty day simple moving average of $103.90 and a two-hundred day simple moving average of $96.99. The company has a current ratio of 2.29, a quick ratio of 2.16 and a debt-to-equity ratio of 0.16.

iRhythm Technologies (NASDAQ:IRTCGet Free Report) last issued its earnings results on Thursday, November 2nd. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.24). iRhythm Technologies had a negative return on equity of 46.35% and a negative net margin of 22.19%. The firm had revenue of $124.60 million during the quarter, compared to analysts’ expectations of $122.46 million. On average, analysts predict that iRhythm Technologies will post -3.38 EPS for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, EVP Daniel G. Wilson sold 7,218 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $103.31, for a total value of $745,691.58. Following the completion of the sale, the executive vice president now directly owns 26,629 shares in the company, valued at $2,751,041.99. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of iRhythm Technologies in the second quarter valued at about $177,000. Mackenzie Financial Corp increased its holdings in shares of iRhythm Technologies by 3.4% in the third quarter. Mackenzie Financial Corp now owns 1,262,179 shares of the company’s stock valued at $111,425,000 after purchasing an additional 41,052 shares during the period. TD Asset Management Inc increased its holdings in shares of iRhythm Technologies by 48.4% in the third quarter. TD Asset Management Inc now owns 33,904 shares of the company’s stock valued at $3,196,000 after purchasing an additional 11,052 shares during the period. WCM Investment Management LLC acquired a new position in shares of iRhythm Technologies in the third quarter valued at about $7,779,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in iRhythm Technologies by 2.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 240,711 shares of the company’s stock worth $25,111,000 after acquiring an additional 4,925 shares during the period.

About iRhythm Technologies

(Get Free Report

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.

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Analyst Recommendations for iRhythm Technologies (NASDAQ:IRTC)

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