A Glimpse Into The Expert Outlook On iRhythm Technologies Through 6 Analysts

iRhythm Technologies (NASDAQ:IRTC) underwent analysis by 6 analysts in the last quarter, revealing a spectrum of viewpoints from…

iRhythm Technologies (NASDAQ:IRTC) underwent analysis by 6 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.

Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.

Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish
Total Ratings 5 1 0 0 0
Last 30D 1 0 0 0 0
1M Ago 3 0 0 0 0
2M Ago 0 0 0 0 0
3M Ago 1 1 0 0 0

The 12-month price targets, analyzed by analysts, offer insights with an average target of $122.83, a high estimate of $136.00, and a low estimate of $108.00. This upward trend is apparent, with the current average reflecting a 0.35% increase from the previous average price target of $122.40.

price target chart

Decoding Analyst Ratings: A Detailed Look

A comprehensive examination of how financial experts perceive iRhythm Technologies is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.

Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target
David Saxon Needham Raises Buy $136.00 $108.00
David Rescott Truist Securities Raises Buy $133.00 $115.00
David Rescott Truist Securities Raises Buy $115.00 $100.00
Joanne Wuensch Citigroup Announces Buy $110.00
David Saxon Needham Lowers Buy $108.00 $140.00
Cecilia Furlong Morgan Stanley Lowers Overweight $135.00 $149.00

Key Insights:

  • Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they ‘Maintain’, ‘Raise’ or ‘Lower’ their stance, it reflects their reaction to recent developments related to iRhythm Technologies. This information provides a snapshot of how analysts perceive the current state of the company.
  • Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from ‘Outperform’ to ‘Underperform’. These ratings convey expectations for the relative performance of iRhythm Technologies compared to the broader market.
  • Price Targets: Delving into movements, analysts provide estimates for the future value of iRhythm Technologies’s stock. This analysis reveals shifts in analysts’ expectations over time.

Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into iRhythm Technologies’s market standing. Stay informed and make well-considered decisions with our Ratings Table.

Stay up to date on iRhythm Technologies analyst ratings.

Discovering iRhythm Technologies: A Closer Look

iRhythm Technologies Inc is a commercial-stage digital healthcare company redefining the way cardiac arrhythmias are clinically diagnosed by combining wearable biosensing technology with cloud-based data analytics and machine-learning capabilities. The company’s portfolio include ambulatory cardiac monitoring services on a platform, called the Zio service, which combines an easy-to-wear and unobtrusive biosensor that can be worn for up to 14 consecutive days with powerful proprietary algorithms that distill data from millions of heartbeats into clinically actionable information. The company derived its revenue from the United States.

iRhythm Technologies’s Economic Impact: An Analysis

Market Capitalization: Indicating a reduced size compared to industry averages, the company’s market capitalization poses unique challenges.

Revenue Growth: iRhythm Technologies’s remarkable performance in 3 months is evident. As of 30 September, 2023, the company achieved an impressive revenue growth rate of 19.96%. This signifies a substantial increase in the company’s top-line earnings. When compared to others in the Health Care sector, the company faces challenges, achieving a growth rate lower than the average among peers.

Net Margin: iRhythm Technologies’s net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -21.76%, the company may face hurdles in effective cost management.

Return on Equity (ROE): iRhythm Technologies’s ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -12.22%, the company may face hurdles in achieving optimal financial returns.

Return on Assets (ROA): iRhythm Technologies’s ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -6.24%, the company may face hurdles in achieving optimal financial returns.

Debt Management: iRhythm Technologies’s debt-to-equity ratio is below the industry average at 0.6, reflecting a lower dependency on debt financing and a more conservative financial approach.

Analyst Ratings: What Are They?

Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.

Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.

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