iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $145.00

iRhythm Technologies (NASDAQ:IRTC - Free Report) had its target price lifted by Truist Financial from $111.00 to $145.00 in a research report sent to investors on Friday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

IRTC has been the subject of a number of other research reports. Needham & Company LLC increased their target price on iRhythm Technologies from $125.00 to $138.00 and gave the company a "buy" rating in a research note on Friday. Canaccord Genuity Group increased their price objective 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. Oppenheimer increased their price target on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 8th. Wells Fargo & Company boosted their price objective on iRhythm Technologies from $86.00 to $104.00 and gave the company an "equal weight" rating in a report on Friday. Finally, Robert W. Baird lowered their price target on iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.73.

iRhythm Technologies Trading Down 4.2 %

Shares of iRhythm Technologies stock traded down $4.97 during trading hours on Friday, reaching $113.91. 799,027 shares of the company's stock were exchanged, compared to its average volume of 466,710. iRhythm Technologies has a 52-week low of $55.92 and a 52-week high of $128.52. The company has a fifty day moving average of $102.34 and a 200-day moving average of $84.13. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -31.29 and a beta of 1.29.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.30. The firm had revenue of $164.33 million for the quarter, compared to the consensus estimate of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. Sell-side analysts forecast that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Insider Activity at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 2,492 shares of iRhythm Technologies stock in a transaction on 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 sale, the insider now owns 35,327 shares of the company's stock, valued at approximately $3,034,236.03. The trade was a 6.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.68% of the company's stock.

Institutional Trading of iRhythm Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of iRhythm Technologies during the 4th quarter valued at about $45,000. Van ECK Associates Corp lifted its position in shares of iRhythm Technologies by 41.3% during the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after purchasing an additional 162 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in iRhythm Technologies during the 4th quarter worth $60,000. Quarry LP bought a new position in iRhythm Technologies in the third quarter valued at about $59,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of iRhythm Technologies by 166.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company's stock worth $94,000 after buying an additional 648 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.