iRhythm Technologies (NASDAQ:IRTC) Receives $201.57 Average Price Target from Brokerages

Shares of iRhythm Technologies (NASDAQ:IRTC) have been given a consensus rating of “Moderate Buy” by the fifteen analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $201.5714.

Several research firms have recently issued reports on IRTC. William Blair upgraded shares of iRhythm Technologies to a “strong-buy” rating in a report on Friday, August 1st. BTIG Research upped their price target on shares of iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Evercore ISI decreased their price target on shares of iRhythm Technologies from $185.00 to $175.00 and set an “in-line” rating for the company in a report on Tuesday, October 7th. Wells Fargo & Company boosted their price objective on shares of iRhythm Technologies from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Truist Financial upped their target price on iRhythm Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th.

Insider Activity

In other news, EVP Sumi Shrishrimal sold 653 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $167.12, for a total value of $109,129.36. Following the completion of the transaction, the executive vice president directly owned 34,032 shares in the company, valued at $5,687,427.84. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Daniel G. Wilson sold 8,000 shares of iRhythm Technologies stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $207.44, for a total value of $1,659,520.00. Following the sale, the chief financial officer directly owned 26,470 shares of the company’s stock, valued at $5,490,936.80. This trade represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 27,712 shares of company stock valued at $5,215,603. Company insiders own 1.10% of the company’s stock.

Institutional Trading of iRhythm Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MCF Advisors LLC acquired a new position in iRhythm Technologies during the first quarter valued at $25,000. AlphaQuest LLC acquired a new stake in iRhythm Technologies during the 1st quarter worth about $30,000. Root Financial Partners LLC purchased a new position in shares of iRhythm Technologies during the 3rd quarter valued at about $30,000. Smartleaf Asset Management LLC lifted its holdings in shares of iRhythm Technologies by 100.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after buying an additional 99 shares during the period. Finally, Optiver Holding B.V. purchased a new stake in shares of iRhythm Technologies in the third quarter worth about $35,000.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $170.82 on Monday. The company has a current ratio of 4.63, a quick ratio of 4.50 and a debt-to-equity ratio of 5.32. The firm has a market cap of $5.50 billion, a PE ratio of -106.10 and a beta of 1.13. iRhythm Technologies has a 12 month low of $71.00 and a 12 month high of $212.00. The stock has a fifty day moving average price of $177.90 and a 200-day moving average price of $157.82.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.30. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The company had revenue of $192.88 million for the quarter, compared to analyst estimates of $184.75 million. During the same period in the prior year, the company posted ($1.26) EPS. The firm’s quarterly revenue was up 30.8% compared to the same quarter last year. iRhythm Technologies has set its FY 2025 guidance at EPS. Equities research analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

iRhythm Technologies Company Profile

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.