Shares of iRhythm Technologies (NASDAQ:IRTC – Get Free Report) have earned a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, thirteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $174.50.
A number of research analysts have issued reports on IRTC shares. Truist Financial boosted their target price on shares of iRhythm Technologies from $160.00 to $168.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings raised iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 27th. Wall Street Zen downgraded iRhythm Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Wells Fargo & Company reduced their price objective on iRhythm Technologies from $168.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Finally, Piper Sandler started coverage on iRhythm Technologies in a report on Friday, October 16th. They issued an “overweight” rating and a $160.00 price objective for the company.
Read Our Latest Analysis on iRhythm Technologies
iRhythm Technologies Stock Performance
Shares of IRTC opened at $123.37 on Monday. iRhythm Technologies has a 1 year low of $100.70 and a 1 year high of $212.00. The company has a market cap of $4.07 billion, a price-to-earnings ratio of -286.91 and a beta of 1.45. The company has a debt-to-equity ratio of 3.50, a quick ratio of 3.74 and a current ratio of 3.86. The firm has a fifty day moving average of $115.04 and a 200-day moving average of $122.77.
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.62. The business had revenue of $224.17 million during the quarter, compared to analyst estimates of $219.30 million. iRhythm Technologies had a negative net margin of 1.69% and a positive return on equity of 10.11%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. As a group, equities analysts anticipate that iRhythm Technologies will post 0.54 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Braidwell LP increased its holdings in shares of iRhythm Technologies by 7.2% during the second quarter. Braidwell LP now owns 654,262 shares of the company’s stock valued at $77,824,000 after purchasing an additional 44,070 shares during the period. Stephens Investment Management Group LLC lifted its holdings in iRhythm Technologies by 8.1% in the first quarter. Stephens Investment Management Group LLC now owns 561,530 shares of the company’s stock worth $66,272,000 after purchasing an additional 42,205 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in iRhythm Technologies by 14.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 467,113 shares of the company’s stock worth $55,222,000 after purchasing an additional 59,704 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in iRhythm Technologies by 99.2% in the first quarter. The Manufacturers Life Insurance Company now owns 390,577 shares of the company’s stock worth $46,096,000 after purchasing an additional 194,502 shares during the period. Finally, Rock Springs Capital Management LP grew its position in iRhythm Technologies by 11.4% in the 1st quarter. Rock Springs Capital Management LP now owns 261,750 shares of the company’s stock valued at $30,892,000 after buying an additional 26,750 shares in the last quarter.
iRhythm Technologies Company Profile
iRhythm Technologies, Inc is a digital health company focused on the diagnosis and management of cardiac arrhythmias. The company provides ambulatory cardiac monitoring services that enable physicians to evaluate patients for conditions such as atrial fibrillation and other irregular heart rhythms.
Its principal offering is the Zio platform, which combines wearable electrocardiogram (ECG) monitoring devices with cloud-based data analysis and physician reports. Products in the platform include the Zio XT, an extended-wear monitor, and the Zio AT, which provides near-real-time monitoring capabilities.
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