Analysts Set iRhythm Technologies (NASDAQ:IRTC) Target Price at $184.85

Shares of iRhythm Technologies (NASDAQ:IRTC) have been given an average recommendation of “Moderate Buy” by the fifteen analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $184.8462.

Several research firms have issued reports on IRTC. William Blair raised shares of iRhythm Technologies to a “strong-buy” rating in a research report on Friday, August 1st. The Goldman Sachs Group boosted their price objective on shares of iRhythm Technologies from $158.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, October 1st. Canaccord Genuity Group boosted their price objective on shares of iRhythm Technologies from $170.00 to $193.00 and gave the company a “buy” rating in a research report on Monday, September 29th. BTIG Research boosted their price objective on shares of iRhythm Technologies from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, Bank of America assumed coverage on shares of iRhythm Technologies in a research report on Wednesday, August 20th. They issued a “buy” rating and a $200.00 price target for the company.

Insider Transactions at iRhythm Technologies

In other news, insider Chad Patterson sold 2,555 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $158.97, for a total value of $406,168.35. Following the completion of the sale, the insider owned 43,667 shares of the company’s stock, valued at approximately $6,941,742.99. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Abhijit Y. Talwalkar sold 5,312 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $158.02, for a total transaction of $839,402.24. Following the completion of the sale, the director directly owned 20,299 shares of the company’s stock, valued at $3,207,647.98. The trade was a 20.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,069 shares of company stock worth $7,627,986. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On iRhythm Technologies

Several hedge funds have recently modified their holdings of IRTC. MCF Advisors LLC purchased a new stake in iRhythm Technologies during the first quarter valued at approximately $25,000. AlphaQuest LLC purchased a new stake in iRhythm Technologies during the first quarter valued at approximately $30,000. ANTIPODES PARTNERS Ltd purchased a new stake in iRhythm Technologies during the second quarter valued at approximately $39,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in iRhythm Technologies during the first quarter valued at approximately $50,000. Finally, CWM LLC lifted its position in iRhythm Technologies by 54.3% during the first quarter. CWM LLC now owns 517 shares of the company’s stock valued at $54,000 after acquiring an additional 182 shares during the last quarter.

iRhythm Technologies Price Performance

iRhythm Technologies stock opened at $182.25 on Thursday. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of -62.20 and a beta of 1.15. The company has a debt-to-equity ratio of 6.25, a current ratio of 5.02 and a quick ratio of 4.88. iRhythm Technologies has a 1 year low of $60.69 and a 1 year high of $187.57. The firm has a 50-day moving average of $173.57 and a two-hundred day moving average of $147.85.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.21. The company had revenue of $186.69 million during the quarter, compared to analysts’ expectations of $173.94 million. iRhythm Technologies had a negative net margin of 14.06% and a negative return on equity of 90.03%. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.61) EPS. iRhythm Technologies has set its FY 2025 guidance at EPS. On average, research analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current year.

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.