iRhythm Technologies (NASDAQ:IRTC) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

iRhythm Technologies (NASDAQ:IRTC) has been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $178.79.

A number of equities analysts have weighed in on the stock. Stephens began coverage on shares of iRhythm Technologies in a research report on Thursday, July 23rd. They set an “overweight” rating and a $160.00 price objective for the company. BTIG Research reiterated a “buy” rating and issued a $185.00 target price on shares of iRhythm Technologies in a research report on Monday, June 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Monday, September 14th. Needham & Company LLC raised their price target on shares of iRhythm Technologies from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday. Finally, Truist Financial lifted their price objective on iRhythm Technologies from $160.00 to $168.00 and gave the stock a “buy” rating in a report on Monday, August 10th.

iRhythm Technologies Stock Down 2.1%

iRhythm Technologies stock opened at $104.99 on Thursday. The company has a debt-to-equity ratio of 3.50, a current ratio of 3.86 and a quick ratio of 3.74. The stock has a market capitalization of $3.46 billion, a PE ratio of -244.16 and a beta of 1.45. The business has a 50 day simple moving average of $118.07 and a 200-day simple moving average of $116.98. iRhythm Technologies has a 12 month low of $100.85 and a 12 month high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.62. iRhythm Technologies had a positive return on equity of 10.11% and a negative net margin of 1.69%.The firm had revenue of $224.17 million for the quarter, compared to analyst estimates of $219.30 million. During the same quarter last year, the firm posted ($0.32) EPS. The business’s revenue was up 20.1% on a year-over-year basis. On average, analysts anticipate that iRhythm Technologies will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On iRhythm Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in IRTC. Geode Capital Management LLC raised its stake in iRhythm Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 858,405 shares of the company’s stock valued at $152,337,000 after purchasing an additional 68,301 shares during the last quarter. Braidwell LP boosted its stake in iRhythm Technologies by 7.2% during the 2nd quarter. Braidwell LP now owns 654,262 shares of the company’s stock worth $77,824,000 after purchasing an additional 44,070 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of iRhythm Technologies by 12.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 606,969 shares of the company’s stock worth $107,701,000 after buying an additional 65,930 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of iRhythm Technologies by 8.1% during the first quarter. Stephens Investment Management Group LLC now owns 561,530 shares of the company’s stock worth $66,272,000 after buying an additional 42,205 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of iRhythm Technologies by 14.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 467,113 shares of the company’s stock valued at $55,222,000 after buying an additional 59,704 shares during the last quarter.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc is a digital health care company focused on ambulatory cardiac monitoring and the diagnosis of cardiac arrhythmias. The company combines wearable biosensor technology, cloud-based data analysis and clinical services to help physicians detect and manage irregular heart rhythms, including atrial fibrillation.

Its principal products include the Zio monitor portfolio, which is designed for extended, continuous electrocardiogram monitoring in an easy-to-use wearable format.