iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $95.00

iRhythm Technologies (NASDAQ:IRTC) had its price objective boosted by equities research analysts at Truist Financial from $80.00 to $95.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 26.67% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. cut their price objective on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Robert W. Baird cut their price target on shares of iRhythm Technologies from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Needham & Company LLC lowered their price objective on shares of iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. StockNews.com cut shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Finally, Citigroup reduced their price target on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.90.

iRhythm Technologies Stock Up 20.8 %

IRTC stock traded up $12.90 during midday trading on Tuesday, hitting $75.00. The company’s stock had a trading volume of 1,801,571 shares, compared to its average volume of 456,698. The company’s fifty day moving average price is $67.94 and its 200 day moving average price is $87.19. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $124.11. The stock has a market capitalization of $2.33 billion, a P/E ratio of -17.63 and a beta of 1.22.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.28. iRhythm Technologies had a negative return on equity of 84.14% and a negative net margin of 24.50%. The business had revenue of $148.05 million for the quarter, compared to the consensus estimate of $146.15 million. During the same quarter in the previous year, the business earned ($0.61) earnings per share. iRhythm Technologies’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities research analysts predict that iRhythm Technologies will post -2.66 EPS for the current year.

Insider Transactions at iRhythm Technologies

In other news, EVP Mervin Smith sold 688 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $51,366.08. Following the transaction, the executive vice president now owns 10,360 shares in the company, valued at approximately $773,477.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Mervin Smith sold 688 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $51,366.08. Following the completion of the sale, the executive vice president now directly owns 10,360 shares of the company’s stock, valued at $773,477.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chad Patterson sold 3,012 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $224,875.92. Following the completion of the sale, the insider now directly owns 37,133 shares of the company’s stock, valued at approximately $2,772,349.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,072 shares of company stock worth $372,748 over the last quarter. Company insiders own 0.68% of the company’s stock.

Institutional Trading of iRhythm Technologies

Several institutional investors and hedge funds have recently made changes to their positions in IRTC. Vanguard Group Inc. increased its stake in iRhythm Technologies by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,993,443 shares of the company’s stock valued at $320,418,000 after buying an additional 35,694 shares during the last quarter. WoodTrust Financial Corp boosted its position in iRhythm Technologies by 3.6% in the first quarter. WoodTrust Financial Corp now owns 14,232 shares of the company’s stock worth $1,651,000 after purchasing an additional 500 shares during the last quarter. Diversified Trust Co grew its stake in iRhythm Technologies by 148.7% in the 1st quarter. Diversified Trust Co now owns 4,934 shares of the company’s stock valued at $572,000 after purchasing an additional 2,950 shares during the period. Allspring Global Investments Holdings LLC grew its stake in iRhythm Technologies by 13.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 415,026 shares of the company’s stock valued at $48,143,000 after purchasing an additional 49,168 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of iRhythm Technologies by 768.4% during the 1st quarter. Principal Financial Group Inc. now owns 62,592 shares of the company’s stock valued at $7,261,000 after purchasing an additional 55,384 shares during the last quarter.

About iRhythm Technologies

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.