Analysts Set iRhythm Technologies (NASDAQ:IRTC) Target Price at $209.46

iRhythm Technologies (NASDAQ:IRTC) has been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $202.9231.

Several analysts recently issued reports on IRTC shares. JPMorgan Chase & Co. cut their target price on iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. The Goldman Sachs Group lowered their price target on iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Wells Fargo & Company cut their price objective on shares of iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $244.00 price objective on shares of iRhythm Technologies in a research report on Monday, January 12th. Finally, Wall Street Zen raised shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 21st.

iRhythm Technologies Stock Up 1.0%

IRTC opened at $124.41 on Thursday. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of -88.86 and a beta of 1.18. The company has a debt-to-equity ratio of 4.25, a quick ratio of 4.48 and a current ratio of 4.63. The firm’s fifty day moving average is $128.63 and its 200 day moving average is $158.37. iRhythm Technologies has a fifty-two week low of $97.16 and a fifty-two week high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.27. iRhythm Technologies had a negative return on equity of 28.15% and a negative net margin of 5.96%.The business had revenue of $208.89 million during the quarter, compared to analyst estimates of $202.61 million. During the same quarter in the prior year, the business posted ($0.04) EPS. iRhythm Technologies’s revenue for the quarter was up 27.1% compared to the same quarter last year. On average, sell-side analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other iRhythm Technologies news, insider Chad Patterson sold 4,444 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $128.44, for a total value of $570,787.36. Following the sale, the insider owned 58,164 shares in the company, valued at $7,470,584.16. The trade was a 7.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick Michael Murphy sold 4,357 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $128.44, for a total transaction of $559,613.08. Following the transaction, the insider directly owned 63,203 shares of the company’s stock, valued at $8,117,793.32. This trade represents a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 94,509 shares of company stock worth $12,734,195 in the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Trading of iRhythm Technologies

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after purchasing an additional 60 shares in the last quarter. Ascent Group LLC raised its position in iRhythm Technologies by 0.7% during the 4th quarter. Ascent Group LLC now owns 9,587 shares of the company’s stock valued at $1,701,000 after purchasing an additional 70 shares in the last quarter. WoodTrust Financial Corp raised its position in iRhythm Technologies by 0.7% during the 4th quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock valued at $1,787,000 after purchasing an additional 70 shares in the last quarter. US Bancorp DE lifted its holdings in shares of iRhythm Technologies by 7.8% in the 3rd quarter. US Bancorp DE now owns 1,042 shares of the company’s stock worth $179,000 after buying an additional 75 shares during the period. Finally, State of Wyoming lifted its holdings in shares of iRhythm Technologies by 16.0% in the 4th quarter. State of Wyoming now owns 616 shares of the company’s stock worth $109,000 after buying an additional 85 shares during the period.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.