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

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) have received a consensus recommendation of "Buy" from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $118.67.

Several research firms have issued reports on IRTC. Wolfe Research upgraded iRhythm Technologies from a "peer perform" rating to an "outperform" rating and set a $115.00 price objective for the company in a research note on Thursday, June 20th. Robert W. Baird cut their price target on shares of iRhythm Technologies from $120.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, August 2nd. StockNews.com raised shares of iRhythm Technologies from a "sell" rating to a "hold" rating in a research note on Friday. Needham & Company LLC cut their target price on shares of iRhythm Technologies from $138.00 to $119.00 and set a "buy" rating for the company in a research note on Friday, August 2nd. Finally, Morgan Stanley decreased their price target on iRhythm Technologies from $135.00 to $130.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th.

iRhythm Technologies Stock Performance

iRhythm Technologies stock traded down $1.14 on Friday, hitting $65.48. The company's stock had a trading volume of 421,152 shares, compared to its average volume of 430,565. The company has a fifty day moving average price of $91.03 and a 200-day moving average price of $101.73. The firm has a market cap of $2.04 billion, a P/E ratio of -15.48 and a beta of 1.25. iRhythm Technologies has a one year low of $64.35 and a one year high of $124.11. The company has a quick ratio of 6.95, a current ratio of 7.10 and a debt-to-equity ratio of 7.13.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.61) EPS for the quarter, topping analysts' consensus estimates of ($0.89) by $0.28. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 75.14%. The firm had revenue of $148.05 million during the quarter, compared to analysts' expectations of $146.15 million. During the same quarter last year, the company earned ($0.61) earnings per share. The company's revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities analysts anticipate that iRhythm Technologies will post -3.22 earnings per share for the current year.

Insider Activity

In other iRhythm Technologies news, CAO Marc W. Rosenbaum sold 510 shares of the business's stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $88.91, for a total transaction of $45,344.10. Following the completion of the sale, the chief accounting officer now directly owns 8,174 shares of the company's stock, valued at approximately $726,750.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction on Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the sale, the chief financial officer now directly owns 24,428 shares of the company's stock, valued at $1,718,265.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Marc W. Rosenbaum sold 510 shares of the company's stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $88.91, for a total value of $45,344.10. Following the completion of the sale, the chief accounting officer now owns 8,174 shares of the company's stock, valued at approximately $726,750.34. The disclosure for this sale can be found here. Insiders have sold 8,117 shares of company stock valued at $666,982 over the last 90 days. 0.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On iRhythm Technologies

Several institutional investors have recently modified their holdings of the stock. Westfield Capital Management Co. LP bought a new position in iRhythm Technologies during the 1st quarter worth approximately $58,311,000. Champlain Investment Partners LLC raised its stake in iRhythm Technologies by 104.1% during the 1st quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company's stock worth $66,793,000 after buying an additional 293,710 shares during the period. First Light Asset Management LLC lifted its holdings in iRhythm Technologies by 176.8% during the first quarter. First Light Asset Management LLC now owns 420,892 shares of the company's stock worth $48,823,000 after acquiring an additional 268,829 shares in the last quarter. Norges Bank acquired a new position in iRhythm Technologies in the fourth quarter valued at about $26,522,000. Finally, Capital Research Global Investors increased its holdings in shares of iRhythm Technologies by 5.1% in the fourth quarter. Capital Research Global Investors now owns 2,495,626 shares of the company's stock worth $267,132,000 after acquiring an additional 121,709 shares in the last quarter.

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.