iRhythm Technologies (NASDAQ:IRTC) Receives $201.57 Consensus PT from Analysts

Shares of iRhythm Technologies (NASDAQ:IRTC) have earned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $201.5714.

A number of analysts have recently issued reports on IRTC shares. Weiss Ratings restated a “sell (d-)” rating on shares of iRhythm Technologies in a report on Wednesday, October 8th. Robert W. Baird increased their price objective on iRhythm Technologies from $180.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Evercore ISI cut their target price on iRhythm Technologies from $185.00 to $175.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. JPMorgan Chase & Co. lifted their target price on iRhythm Technologies from $190.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, Bank of America began coverage on iRhythm Technologies in a research note on Wednesday, August 20th. They issued a “buy” rating and a $200.00 price target on the stock.

iRhythm Technologies Stock Up 1.6%

NASDAQ IRTC opened at $179.12 on Monday. iRhythm Technologies has a 52 week low of $71.00 and a 52 week high of $212.00. The company has a quick ratio of 4.50, a current ratio of 4.63 and a debt-to-equity ratio of 5.32. The business’s fifty day simple moving average is $178.38 and its 200-day simple moving average is $157.30. The firm has a market cap of $5.77 billion, a PE ratio of -111.25 and a beta of 1.13.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.30. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 41.86%. The firm had revenue of $192.88 million during the quarter, compared to analyst estimates of $184.75 million. During the same quarter in the prior year, the firm posted ($1.26) earnings per share. iRhythm Technologies’s quarterly revenue was up 30.8% on a year-over-year basis. iRhythm Technologies has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, EVP Sumi Shrishrimal sold 653 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $167.12, for a total transaction of $109,129.36. Following the completion of the transaction, the executive vice president owned 34,032 shares of the company’s stock, valued at $5,687,427.84. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Quentin S. Blackford sold 14,059 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $182.94, for a total transaction of $2,571,953.46. Following the completion of the sale, the chief executive officer directly owned 164,979 shares in the company, valued at $30,181,258.26. This trade represents a 7.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 27,712 shares of company stock valued at $5,215,603 over the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new position in shares of iRhythm Technologies during the third quarter worth $30,000. Smartleaf Asset Management LLC lifted its stake in iRhythm Technologies by 100.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after acquiring an additional 99 shares in the last quarter. Optiver Holding B.V. acquired a new position in iRhythm Technologies during the 3rd quarter worth about $35,000. MCF Advisors LLC purchased a new position in iRhythm Technologies during the 1st quarter valued at about $25,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in iRhythm Technologies in the 2nd quarter valued at about $39,000.

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.