iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives $135.11 Average Price Target from Analysts

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) have received an average recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is $135.11.

IRTC has been the topic of several analyst reports. Truist Financial raised their target price on iRhythm Technologies from $115.00 to $133.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Needham & Company LLC raised their target price on iRhythm Technologies from $136.00 to $137.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Canaccord Genuity Group increased their price target on iRhythm Technologies from $121.00 to $133.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. decreased their price target on iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd.

Insider Transactions at iRhythm Technologies

In other news, CEO Quentin S. Blackford sold 24,701 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $3,012,533.96. Following the completion of the sale, the chief executive officer now directly owns 180,015 shares of the company’s stock, valued at approximately $21,954,629.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Daniel G. Wilson sold 1,261 shares of iRhythm Technologies stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $153,791.56. Following the transaction, the executive vice president now owns 32,967 shares in the company, valued at $4,020,655.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Quentin S. Blackford sold 24,701 shares of iRhythm Technologies stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $3,012,533.96. Following the transaction, the chief executive officer now owns 180,015 shares in the company, valued at approximately $21,954,629.40. The disclosure for this sale can be found here. Insiders sold a total of 35,052 shares of company stock valued at $4,274,942 in the last three months. 0.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd boosted its position in iRhythm Technologies by 285.2% during the third quarter. Covestor Ltd now owns 312 shares of the company’s stock valued at $29,000 after purchasing an additional 231 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in iRhythm Technologies during the third quarter valued at $38,000. Nisa Investment Advisors LLC boosted its position in iRhythm Technologies by 110.3% during the third quarter. Nisa Investment Advisors LLC now owns 574 shares of the company’s stock valued at $54,000 after purchasing an additional 301 shares during the last quarter. KBC Group NV acquired a new stake in iRhythm Technologies during the fourth quarter valued at $74,000. Finally, Comerica Bank lifted its position in shares of iRhythm Technologies by 43.8% in the fourth quarter. Comerica Bank now owns 759 shares of the company’s stock worth $81,000 after buying an additional 231 shares during the last quarter.

iRhythm Technologies Stock Up 0.3 %

Shares of iRhythm Technologies stock opened at $109.85 on Friday. iRhythm Technologies has a twelve month low of $70.24 and a twelve month high of $140.23. The company has a current ratio of 2.15, a quick ratio of 2.02 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of -27.12 and a beta of 1.31. The business’s 50 day simple moving average is $111.98 and its 200-day simple moving average is $100.91.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, February 22nd. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.66). iRhythm Technologies had a negative net margin of 25.05% and a negative return on equity of 56.38%. The business had revenue of $132.51 million during the quarter, compared to analyst estimates of $131.14 million. Equities research analysts forecast that iRhythm Technologies will post -3.14 earnings per share 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.