Analysts Set iRhythm Technologies, Inc. (NASDAQ:IRTC) Price Target at $108.45

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $108.45.

Several research firms recently commented on IRTC. Oppenheimer increased their price target on iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, January 8th. Canaccord Genuity Group lifted their price target on iRhythm Technologies from $125.00 to $152.00 and gave the stock a "buy" rating in a report on Monday, December 9th. StockNews.com lowered shares of iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 27th. Needham & Company LLC lifted their target price on shares of iRhythm Technologies from $96.00 to $112.00 and gave the stock a "buy" rating in a research note on Monday. Finally, The Goldman Sachs Group assumed coverage on shares of iRhythm Technologies in a research note on Friday, October 4th. They issued a "neutral" rating and a $78.00 price target for the company.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC traded up $4.42 during trading on Tuesday, reaching $99.01. The stock had a trading volume of 845,515 shares, compared to its average volume of 449,000. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies has a 1-year low of $55.92 and a 1-year high of $124.11. The stock has a market cap of $3.10 billion, a PE ratio of -20.37 and a beta of 1.26. The business has a fifty day moving average price of $86.90 and a 200-day moving average price of $80.36.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.71). The business had revenue of $147.54 million for the quarter, compared to analysts' expectations of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. iRhythm Technologies's quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.89) EPS. On average, equities analysts forecast that iRhythm Technologies will post -3.35 earnings per share for the current fiscal year.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 16,145 shares of iRhythm Technologies stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the completion of the sale, the chief executive officer now directly owns 159,929 shares of the company's stock, valued at $12,380,103.89. The trade was a 9.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick Michael Murphy sold 2,492 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the transaction, the insider now owns 35,327 shares in the company, valued at approximately $3,034,236.03. The trade was a 6.59 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On iRhythm Technologies

Several hedge funds have recently added to or reduced their stakes in IRTC. Eventide Asset Management LLC boosted its holdings in shares of iRhythm Technologies by 170.8% in the 3rd quarter. Eventide Asset Management LLC now owns 736,721 shares of the company's stock valued at $54,694,000 after buying an additional 464,629 shares in the last quarter. Braidwell LP grew its position in shares of iRhythm Technologies by 48.7% during the third quarter. Braidwell LP now owns 782,557 shares of the company's stock worth $58,097,000 after acquiring an additional 256,200 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in iRhythm Technologies by 38.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company's stock valued at $52,501,000 after purchasing an additional 195,246 shares during the last quarter. Mackenzie Financial Corp boosted its stake in iRhythm Technologies by 5.9% during the 2nd quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company's stock worth $153,745,000 after purchasing an additional 80,091 shares during the period. Finally, Fred Alger Management LLC grew its position in iRhythm Technologies by 24.4% during the 3rd quarter. Fred Alger Management LLC now owns 314,117 shares of the company's stock worth $23,320,000 after purchasing an additional 61,696 shares during the last quarter.

iRhythm Technologies Company Profile

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.