iRhythm Technologies, Inc. (NASDAQ:IRTC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

iRhythm Technologies, Inc. (NASDAQ:IRTC) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $136.45.

Several analysts recently weighed in on the company. Robert W. Baird lifted their price target on iRhythm Technologies from $133.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Wells Fargo & Company upgraded iRhythm Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. The Goldman Sachs Group raised their price objective on iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, February 24th. Citigroup raised their price target on shares of iRhythm Technologies from $130.00 to $167.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen downgraded shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Monday, May 5th.

iRhythm Technologies Trading Down 1.3%

iRhythm Technologies stock opened at $145.48 on Friday. The stock has a 50-day simple moving average of $125.86 and a 200 day simple moving average of $109.32. The stock has a market capitalization of $4.64 billion, a P/E ratio of -39.97 and a beta of 1.40. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $150.00.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.06). iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The business had revenue of $158.68 million for the quarter, compared to analyst estimates of $153.39 million. During the same period in the previous year, the firm posted ($1.23) earnings per share. The firm’s revenue was up 20.3% compared to the same quarter last year. Analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current year.

Institutional Investors Weigh In On iRhythm Technologies

Hedge funds have recently made changes to their positions in the company. Cim Investment Management Inc. boosted its position in shares of iRhythm Technologies by 97.6% during the first quarter. Cim Investment Management Inc. now owns 11,530 shares of the company’s stock valued at $1,122,000 after buying an additional 5,696 shares during the last quarter. Rhumbline Advisers increased its stake in iRhythm Technologies by 7.0% in the 1st quarter. Rhumbline Advisers now owns 45,946 shares of the company’s stock worth $4,810,000 after buying an additional 2,995 shares in the last quarter. Strs Ohio purchased a new position in iRhythm Technologies during the first quarter valued at $147,000. Intech Investment Management LLC grew its holdings in iRhythm Technologies by 17.1% during the 1st quarter. Intech Investment Management LLC now owns 17,484 shares of the company’s stock valued at $1,830,000 after buying an additional 2,557 shares in the last quarter. Finally, Bayforest Capital Ltd increased its holdings in shares of iRhythm Technologies by 153.2% in the 1st quarter. Bayforest Capital Ltd now owns 4,213 shares of the company’s stock worth $441,000 after buying an additional 2,549 shares during 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.