iRhythm Technologies, Inc. (NASDAQ:IRTC) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $119.73.

IRTC has been the subject of several research analyst reports. Needham & Company LLC lifted their target price on iRhythm Technologies from $125.00 to $138.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Truist Financial upped their price objective on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a report on Friday, February 21st. Oppenheimer raised their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an "equal weight" rating in a report on Friday, February 21st. Finally, Canaccord Genuity Group boosted their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the stock a "buy" rating in a report on Monday, December 9th.

iRhythm Technologies Trading Up 1.4 %

NASDAQ:IRTC traded up $1.45 during trading hours on Friday, hitting $108.33. The stock had a trading volume of 341,288 shares, compared to its average volume of 459,800. The business's 50 day moving average is $107.93 and its 200-day moving average is $90.71. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -29.76 and a beta of 1.36. iRhythm Technologies has a one year low of $55.92 and a one year high of $128.52. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27.

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iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.29) by $0.30. The business had revenue of $164.33 million for the quarter, compared to the consensus estimate of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. Sell-side analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Hedge Funds Weigh In On iRhythm Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRTC. Intech Investment Management LLC acquired a new position in iRhythm Technologies in the third quarter valued at about $702,000. Charles Schwab Investment Management Inc. increased its holdings in iRhythm Technologies by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 255,703 shares of the company's stock valued at $18,983,000 after buying an additional 4,173 shares during the period. Algert Global LLC raised its position in shares of iRhythm Technologies by 332.8% in the 3rd quarter. Algert Global LLC now owns 13,560 shares of the company's stock valued at $1,007,000 after buying an additional 10,427 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of iRhythm Technologies by 7.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 196,423 shares of the company's stock worth $14,582,000 after acquiring an additional 13,377 shares during the period. Finally, FMR LLC boosted its position in shares of iRhythm Technologies by 7.0% during the 3rd quarter. FMR LLC now owns 388,074 shares of the company's stock worth $28,811,000 after acquiring an additional 25,385 shares in the last quarter.

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.