Analysts Set iRhythm Technologies, Inc. (NASDAQ:IRTC) Price Target at $108.50

iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) has earned an average rating of "Moderate Buy" from the ten analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $108.50.

A number of equities analysts have issued reports on IRTC shares. Canaccord Genuity Group boosted their price objective on shares of iRhythm Technologies from $122.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Needham & Company LLC dropped their price objective on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating for the company in a report on Thursday, October 31st. Truist Financial boosted their target price on iRhythm Technologies from $80.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. StockNews.com lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Friday, September 27th. Finally, Citigroup reduced their price objective on shares of iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd.

Insider Buying and Selling

In related news, CEO Quentin S. Blackford sold 16,145 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $77.41, for a total transaction of $1,249,784.45. Following the sale, the chief executive officer now directly owns 159,929 shares of the company's stock, valued at approximately $12,380,103.89. This represents a 9.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar bought 6,664 shares of the firm's stock in a transaction on Monday, November 4th. The stock was purchased at an average cost of $75.16 per share, with a total value of $500,866.24. Following the completion of the acquisition, the director now directly owns 18,941 shares of the company's stock, valued at approximately $1,423,605.56. The trade was a 54.28 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by company insiders.

Institutional Trading of iRhythm Technologies

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

iRhythm Technologies Trading Up 11.3 %

Shares of IRTC stock traded up $8.33 on Monday, hitting $82.32. 536,223 shares of the company's stock traded hands, compared to its average volume of 475,405. The company's fifty day simple moving average is $72.76 and its 200 day simple moving average is $81.93. 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 one year low of $55.92 and a one year high of $124.11. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -16.94 and a beta of 1.23.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.71). iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The company had revenue of $147.54 million for the quarter, compared to analysts' expectations of $146.69 million. During the same quarter in the prior year, the company earned ($0.89) earnings per share. The company's revenue was up 18.4% compared to the same quarter last year. Equities analysts forecast that iRhythm Technologies will post -3.44 EPS for the current year.

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.