iRhythm Technologies (NASDAQ:IRTC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of iRhythm Technologies (NASDAQ:IRTC) have earned an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $189.6923.

IRTC has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of iRhythm Technologies from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Robert W. Baird reduced their target price on shares of iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Weiss Ratings lowered shares of iRhythm Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating on shares of iRhythm Technologies in a research note on Monday. Finally, Citigroup upped their target price on shares of iRhythm Technologies from $155.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, May 4th.

iRhythm Technologies Stock Performance

IRTC opened at $107.35 on Friday. The company has a current ratio of 5.17, a quick ratio of 4.98 and a debt-to-equity ratio of 4.03. The company’s fifty day moving average price is $117.95 and its two-hundred day moving average price is $143.74. iRhythm Technologies has a 1-year low of $101.75 and a 1-year high of $212.00. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -124.82 and a beta of 1.27.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.21. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The firm had revenue of $199.39 million during the quarter, compared to analyst estimates of $194.11 million. During the same quarter in the prior year, the business posted ($0.97) EPS. The business’s revenue was up 25.6% compared to the same quarter last year. On average, analysts expect that iRhythm Technologies will post 0.13 EPS for the current fiscal year.

Insider Activity

In other news, Director Abhijit Y. Talwalkar bought 5,312 shares of iRhythm Technologies stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $10.71 per share, for a total transaction of $56,891.52. Following the purchase, the director directly owned 25,611 shares in the company, valued at $274,293.81. The trade was a 26.17% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.98% of the stock is currently owned by insiders.

Institutional Trading of iRhythm Technologies

Institutional investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL bought a new position in iRhythm Technologies during the third quarter valued at about $3,439,800,000. Vanguard Group Inc. grew its position in iRhythm Technologies by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,310,519 shares of the company’s stock valued at $587,418,000 after buying an additional 70,420 shares during the period. RTW Investments LP bought a new position in iRhythm Technologies during the fourth quarter valued at about $209,732,000. Geode Capital Management LLC grew its position in iRhythm Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 858,405 shares of the company’s stock valued at $152,337,000 after buying an additional 68,301 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in iRhythm Technologies by 45.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 829,862 shares of the company’s stock valued at $147,251,000 after buying an additional 259,800 shares during the period.

About iRhythm Technologies

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.