iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives $119.73 Consensus Price Target from Analysts

iRhythm Technologies, Inc. (NASDAQ:IRTC) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $119.73.

IRTC has been the subject of several recent analyst reports. Oppenheimer boosted their price target on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company upped their target price on shares of iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. StockNews.com raised shares of iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Canaccord Genuity Group upped their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group upped their target price on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, February 24th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after acquiring an additional 162 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in iRhythm Technologies by 5.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company’s stock valued at $297,000 after buying an additional 184 shares during the last quarter. Invesco Ltd. lifted its position in iRhythm Technologies by 1.1% in the fourth quarter. Invesco Ltd. now owns 19,200 shares of the company’s stock valued at $1,731,000 after buying an additional 207 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in iRhythm Technologies by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,271 shares of the company’s stock valued at $295,000 after buying an additional 210 shares during the last quarter. Finally, KBC Group NV lifted its position in iRhythm Technologies by 45.1% in the fourth quarter. KBC Group NV now owns 1,319 shares of the company’s stock valued at $119,000 after buying an additional 410 shares during the last quarter.

iRhythm Technologies Price Performance

Shares of NASDAQ IRTC opened at $101.75 on Wednesday. The firm has a market cap of $3.20 billion, a PE ratio of -27.95 and a beta of 1.36. The firm has a fifty day moving average of $105.66 and a 200 day moving average of $86.64. 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 one year low of $55.92 and a one year high of $128.52.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.29) by $0.30. The company had revenue of $164.33 million during the quarter, compared to analyst estimates of $158.30 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. As a group, research analysts predict that iRhythm Technologies will post -1.98 EPS for the current fiscal 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.