iRhythm Technologies (NASDAQ:IRTC) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

iRhythm Technologies (NASDAQ:IRTC - Free Report) had its price objective increased by The Goldman Sachs Group from $91.00 to $124.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

IRTC has been the subject of several other reports. Robert W. Baird cut their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Truist Financial increased their price target on iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Wells Fargo & Company upped their price objective on shares of iRhythm Technologies from $86.00 to $104.00 and gave the company an "equal weight" rating in a research note on Friday, February 21st. Oppenheimer raised their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 8th. Finally, Canaccord Genuity Group boosted their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, iRhythm Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $119.73.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC traded down $2.85 during trading on Monday, reaching $106.57. The company had a trading volume of 339,167 shares, compared to its average volume of 466,215. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $128.52. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The firm has a market capitalization of $3.35 billion, a PE ratio of -29.28 and a beta of 1.29. The firm's fifty day moving average is $103.26 and its 200 day moving average is $84.61.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.30. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The company had revenue of $164.33 million for the quarter, compared to the consensus estimate of $158.30 million. On average, equities analysts forecast that iRhythm Technologies will post -1.98 EPS for the current year.

Insiders Place Their Bets

In related news, insider Patrick Michael Murphy sold 2,492 shares of the company's stock in a transaction on Monday, December 2nd. The stock was 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 directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On iRhythm Technologies

A number of institutional investors have recently bought and sold shares of the business. Ascent Group LLC lifted its holdings in shares of iRhythm Technologies by 13.0% during the 4th quarter. Ascent Group LLC now owns 8,110 shares of the company's stock worth $731,000 after acquiring an additional 935 shares during the period. Raiffeisen Bank International AG acquired a new position in iRhythm Technologies in the fourth quarter worth about $60,000. ProShare Advisors LLC lifted its stake in iRhythm Technologies by 52.1% during the fourth quarter. ProShare Advisors LLC now owns 8,988 shares of the company's stock worth $810,000 after purchasing an additional 3,079 shares during the period. Nomura Holdings Inc. acquired a new stake in iRhythm Technologies during the fourth quarter valued at approximately $488,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in iRhythm Technologies by 5.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,349 shares of the company's stock valued at $3,097,000 after purchasing an additional 1,743 shares in 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.