Forecasting The Future: 6 Analyst Projections For iRhythm Technologies

In the latest quarter, 6 analysts provided ratings for iRhythm Technologies IRTC, showcasing a mix of bullish and bearish perspectives.

The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.

Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $99.33, with a high estimate of $137.00 and a low estimate of $78.00. A 13.32% drop is evident in the current average compared to the previous average price target of $114.60.

Understanding Analyst Ratings: A Comprehensive Breakdown

In examining recent analyst actions, we gain insights into how financial experts perceive iRhythm Technologies. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.

Key Insights:

• Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to iRhythm Technologies. This insight gives a snapshot of analysts' perspectives on 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: Understanding forecasts, analysts offer estimates for iRhythm Technologies's future value. Examining the current and prior targets provides insight into analysts' changing expectations.

Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of iRhythm Technologies's market position. Stay informed and make well-informed decisions with our Ratings Table.

Stay up to date on iRhythm Technologies analyst ratings.

Get to Know iRhythm Technologies Better

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.

iRhythm Technologies: A Financial Overview

Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.

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. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the 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 standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -21.22%, the company may encounter challenges in delivering satisfactory returns for shareholders.

Return on Assets (ROA): iRhythm Technologies's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -2.2%, the company may face hurdles in achieving optimal financial returns.

Debt Management: iRhythm Technologies's debt-to-equity ratio surpasses industry norms, standing at 7.43. This suggests the company carries a substantial amount of debt, posing potential financial challenges.

How Are Analyst Ratings Determined?

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.

In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.

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