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

Shares of iRhythm Technologies (NASDAQ:IRTC) have received an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $179.9286.

Several equities research analysts have recently issued reports on the company. Bank of America reduced their price target on iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating for the company in a report on Monday, May 18th. BTIG Research restated a “buy” rating and issued a $185.00 price objective on shares of iRhythm Technologies in a report on Monday, June 22nd. Weiss Ratings raised shares of iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 18th. Wells Fargo & Company reduced their target price on shares of iRhythm Technologies from $180.00 to $168.00 and set an “overweight” rating for the company in a research note on Tuesday, August 18th. Finally, HC Wainwright reissued a “buy” rating on shares of iRhythm Technologies in a research report on Monday, June 1st.

Institutional Investors Weigh In On iRhythm Technologies

Several institutional investors and hedge funds have recently modified their holdings of IRTC. Squarepoint Ops LLC increased its position in iRhythm Technologies by 1,065.8% during the second quarter. Squarepoint Ops LLC now owns 71,862 shares of the company’s stock worth $8,548,000 after buying an additional 65,698 shares during the last quarter. Nykredit A S acquired a new stake in shares of iRhythm Technologies in the second quarter worth about $236,000. Amundi boosted its stake in shares of iRhythm Technologies by 14.0% during the 2nd quarter. Amundi now owns 56,534 shares of the company’s stock worth $6,725,000 after acquiring an additional 6,959 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of iRhythm Technologies during the 2nd quarter worth about $969,000. Finally, California State Teachers Retirement System increased its holdings in shares of iRhythm Technologies by 13,944.0% during the 2nd quarter. California State Teachers Retirement System now owns 5,241,770 shares of the company’s stock valued at $623,509,000 after acquiring an additional 5,204,446 shares during the last quarter.

iRhythm Technologies Trading Down 1.3%

Shares of NASDAQ:IRTC opened at $111.43 on Friday. The firm has a fifty day moving average of $119.67 and a two-hundred day moving average of $118.83. The company has a quick ratio of 3.74, a current ratio of 3.86 and a debt-to-equity ratio of 3.50. iRhythm Technologies has a 12-month low of $100.85 and a 12-month high of $212.00. The firm has a market capitalization of $3.67 billion, a P/E ratio of -259.14 and a beta of 1.31.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.62. The business had revenue of $224.17 million for the quarter, compared to the consensus estimate of $219.30 million. iRhythm Technologies had a negative net margin of 1.69% and a positive return on equity of 10.11%. iRhythm Technologies’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.32) earnings per share. On average, equities analysts expect that iRhythm Technologies will post 0.6 EPS for the current fiscal year.

About iRhythm Technologies

iRhythm Technologies, Inc is a digital health company focused on ambulatory cardiac monitoring and the detection of cardiac arrhythmias. The company combines wearable electrocardiogram (ECG) sensors, cloud-based data analysis and clinical support services to help healthcare professionals identify and manage irregular heart rhythms.

Its product portfolio includes the Zio monitor and related services, including Zio XT and Zio AT. These single-use, wearable devices continuously record cardiac activity over an extended period, after which iRhythm analyzes the data and provides reports to physicians.