iRhythm Technologies (NASDAQ:IRTC) PT Raised to $185.00 at Truist

iRhythm Technologies (NASDAQ:IRTC) had its price target raised by Truist from $130.00 to $185.00 in a research note issued on Thursday, The Fly reports. Truist’s price objective would suggest a potential upside of 31.11% from the stock’s current price.

Several other research analysts have also commented on IRTC. Oppenheimer raised iRhythm Technologies from a “market perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research report on Tuesday. started coverage on iRhythm Technologies in a research report on Tuesday, December 21st. They issued a “buy” rating on the stock. BTIG Research raised iRhythm Technologies from a “neutral” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Wednesday. Zacks Investment Research raised iRhythm Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, October 19th. Finally, Robert W. Baird lifted their target price on iRhythm Technologies from $110.00 to $137.00 in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $155.92.

Shares of iRhythm Technologies stock opened at $141.10 on Thursday. iRhythm Technologies has a twelve month low of $41.66 and a twelve month high of $286.19. The stock has a market capitalization of $4.15 billion, a P/E ratio of -53.40 and a beta of 1.21. The company has a current ratio of 3.93, a quick ratio of 3.81 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average price is $107.87 and its 200 day moving average price is $75.66.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, November 4th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($1.09) by $0.28. iRhythm Technologies had a negative return on equity of 25.06% and a negative net margin of 24.55%. The company had revenue of $85.43 million for the quarter, compared to analyst estimates of $83.65 million. During the same period last year, the company posted ($0.17) earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year. As a group, sell-side analysts predict that iRhythm Technologies will post -3.58 EPS for the current year.

A number of hedge funds have recently modified their holdings of IRTC. Newbridge Financial Services Group Inc. boosted its stake in iRhythm Technologies by 190.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 435 shares of the company’s stock valued at $29,000 after acquiring an additional 285 shares during the period. Rockefeller Capital Management L.P. boosted its stake in iRhythm Technologies by 625.7% in the third quarter. Rockefeller Capital Management L.P. now owns 537 shares of the company’s stock valued at $30,000 after acquiring an additional 463 shares during the period. First Horizon Advisors Inc. boosted its stake in iRhythm Technologies by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 554 shares of the company’s stock valued at $44,000 after acquiring an additional 170 shares during the period. Fieldpoint Private Securities LLC boosted its stake in iRhythm Technologies by 65.7% in the second quarter. Fieldpoint Private Securities LLC now owns 1,377 shares of the company’s stock valued at $66,000 after acquiring an additional 546 shares during the period. Finally, Ancora Advisors LLC boosted its stake in iRhythm Technologies by 232.6% in the second quarter. Ancora Advisors LLC now owns 1,430 shares of the company’s stock valued at $95,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 94.17% of the company’s stock.

About iRhythm Technologies

iRhythm Technologies, Inc engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It offers Zio XT, is a wearable patch-based biosensor, continuously records, and stores ECG data from every patient heartbeat for up to 14 consecutive days; and Zio AT, also provides ECG data but also provides physicians with actionable notifications during the wear period.

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