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

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $119.73.

A number of analysts have recently commented on IRTC shares. The Goldman Sachs Group lifted their price target on iRhythm Technologies from $91.00 to $124.00 and gave the company a "neutral" rating in a research note on Monday, February 24th. Truist Financial upped their target price on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a report on Friday, February 21st. Canaccord Genuity Group boosted their price target on iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Oppenheimer increased their price target on iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, January 8th. Finally, StockNews.com upgraded shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a report on Monday, February 24th.

Hedge Funds Weigh In On iRhythm Technologies

Several hedge funds and other institutional investors have recently modified their holdings of IRTC. R Squared Ltd purchased a new position in iRhythm Technologies in the fourth quarter worth about $45,000. Van ECK Associates Corp lifted its stake in shares of iRhythm Technologies by 41.3% in the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after purchasing an additional 162 shares during the period. Quarry LP purchased a new position in shares of iRhythm Technologies during the 3rd quarter valued at $59,000. Raiffeisen Bank International AG purchased a new stake in iRhythm Technologies in the 4th quarter worth $60,000. Finally, Nisa Investment Advisors LLC raised its holdings in iRhythm Technologies by 166.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock valued at $94,000 after acquiring an additional 648 shares during the period.

iRhythm Technologies Stock Performance

Shares of NASDAQ:IRTC traded down $4.79 on Wednesday, hitting $102.90. The company had a trading volume of 203,562 shares, compared to its average volume of 469,218. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -28.27 and a beta of 1.36. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. iRhythm Technologies has a 1-year low of $55.92 and a 1-year high of $128.52. The stock has a 50 day moving average price of $105.17 and a 200 day moving average price of $86.08.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.30. The company had revenue of $164.33 million for the quarter, compared to analyst estimates of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. Analysts expect that iRhythm Technologies will post -1.98 EPS for the current year.

About iRhythm Technologies

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.