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Wall Street JournalBeyond The Numbers: 9 Analysts Discuss iRhythm Technologies Stock
Across the recent three months, 9 analysts have shared their insights on iRhythm Technologies (NASDAQ:IRTC), expressing a variety of opinions spanning from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 5 | 3 | 1 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 1 | 0 | 0 |
| 2M Ago | 1 | 0 | 0 | 0 | 0 |
| 3M Ago | 2 | 3 | 0 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $110.67, a high estimate of $145.00, and a low estimate of $78.00. A 16.79% drop is evident in the current average compared to the previous average price target of $133.00.
Exploring Analyst Ratings: An In-Depth Overview
The perception of iRhythm Technologies by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Richard Newitter | Truist Securities | Lowers | Buy | $80.00 | $117.00 |
| David Roman | Goldman Sachs | Announces | Neutral | $78.00 | - |
| William Plovanic | Canaccord Genuity | Raises | Buy | $137.00 | $122.00 |
| Joanne Wuensch | Citigroup | Lowers | Buy | $110.00 | $135.00 |
| Allen Gong | JP Morgan | Lowers | Overweight | $100.00 | $133.00 |
| Suraj Kalia | Oppenheimer | Lowers | Outperform | $145.00 | $165.00 |
| Mike Polark | Baird | Lowers | Outperform | $110.00 | $120.00 |
| Richard Newitter | Truist Securities | Lowers | Buy | $117.00 | $134.00 |
| David Saxon | Needham | Lowers | Buy | $119.00 | $138.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to iRhythm Technologies. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of iRhythm Technologies compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of iRhythm Technologies's stock. This comparison reveals trends 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.
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Unveiling the Story Behind iRhythm Technologies
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 includes 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 several 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.
Breaking Down iRhythm Technologies's Financial Performance
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: iRhythm Technologies displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 19.27%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Health Care sector.
Net Margin: iRhythm Technologies's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -13.58% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): iRhythm Technologies's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -21.22%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): iRhythm Technologies's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -2.2%, the company may face hurdles in achieving optimal financial performance.
Debt Management: With a high debt-to-equity ratio of 7.43, iRhythm Technologies faces challenges in effectively managing its debt levels, indicating potential financial strain.
The Core of Analyst Ratings: What Every Investor Should Know
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
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.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. Click here to stay ahead of the market.
This article was generated by Benzinga's automated content engine and reviewed by an editor.