Irhythm Technologies Inc (IRTC) Receives Average Rating of “Strong Buy” from Brokerages

Shares of Irhythm Technologies Inc (NASDAQ:IRTC) have been given a consensus broker rating score of 1.13 (Strong Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company.

Analysts have set a 12-month consensus price target of $34.75 for the company and are forecasting that the company will post ($0.35) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Irhythm Technologies an industry rank of 172 out of 265 based on the ratings given to its competitors.

IRTC has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday, March 17th. Canaccord Genuity reiterated a “buy” rating and set a $40.00 price objective on shares of Irhythm Technologies in a research report on Monday, April 10th.

Shares of Irhythm Technologies (NASDAQ:IRTC) traded up 0.66% during mid-day trading on Thursday, reaching $33.56. 776,714 shares of the company’s stock traded hands. The firm’s market cap is $743.42 million. Irhythm Technologies has a 52 week low of $22.16 and a 52 week high of $40.48. The company’s 50 day moving average is $36.09 and its 200-day moving average is $31.54.

Irhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Wednesday, February 15th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.09. The company had revenue of $18.70 million for the quarter, compared to analyst estimates of $17.33 million. Equities analysts expect that Irhythm Technologies will post ($1.17) earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the company. Columbus Circle Investors acquired a new stake in Irhythm Technologies during the first quarter worth $714,000. Teachers Advisors LLC acquired a new stake in Irhythm Technologies during the fourth quarter worth $373,000. UBS Asset Management Americas Inc. acquired a new stake in Irhythm Technologies during the fourth quarter worth $741,000. Perceptive Advisors LLC acquired a new stake in Irhythm Technologies during the fourth quarter worth $10,567,000. Finally, Janus Capital Management LLC acquired a new stake in Irhythm Technologies during the fourth quarter worth $3,011,000. 3.65% of the stock is currently owned by hedge funds and other institutional investors.

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Irhythm Technologies Company Profile

iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.

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