iRhythm Technologies (NASDAQ:IRTC) PT Raised to $95.00

iRhythm Technologies (NASDAQ:IRTC - Free Report) had its price target increased by Truist Financial from $80.00 to $95.00 in a report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on IRTC. StockNews.com lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a research report on Friday, September 27th. The Goldman Sachs Group began coverage on iRhythm Technologies in a research report on Friday, October 4th. They set a "neutral" rating and a $78.00 target price for the company. Robert W. Baird lowered their target price on iRhythm Technologies from $120.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. Canaccord Genuity Group raised their target price on iRhythm Technologies from $122.00 to $137.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lowered their target price on iRhythm Technologies from $133.00 to $100.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $113.90.

iRhythm Technologies Price Performance

Shares of IRTC traded up $13.49 during trading hours on Tuesday, reaching $75.59. The stock had a trading volume of 2,661,772 shares, compared to its average volume of 461,206. iRhythm Technologies has a 12 month low of $55.92 and a 12 month high of $124.11. The stock has a market capitalization of $2.35 billion, a PE ratio of -17.63 and a beta of 1.22. The company has a debt-to-equity ratio of 6.50, a quick ratio of 6.76 and a current ratio of 6.92. The company's 50-day moving average is $67.94 and its two-hundred day moving average is $87.19.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.61) 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 company had revenue of $148.05 million during the quarter, compared to analysts' expectations of $146.15 million. During the same period in the prior year, the company earned ($0.61) EPS. iRhythm Technologies's revenue was up 19.3% compared to the same quarter last year. Research analysts expect that iRhythm Technologies will post -2.66 EPS for the current year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the transaction, the chief financial officer now owns 24,428 shares in the company, valued at approximately $1,718,265.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other iRhythm Technologies news, EVP Mervin Smith sold 688 shares of iRhythm Technologies stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $51,366.08. Following the transaction, the executive vice president now owns 10,360 shares of the company's stock, valued at $773,477.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the transaction, the chief financial officer now directly owns 24,428 shares in the company, valued at approximately $1,718,265.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,072 shares of company stock worth $372,748. Insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On iRhythm Technologies

Several hedge funds have recently modified their holdings of the company. SeaCrest Wealth Management LLC lifted its position in shares of iRhythm Technologies by 7.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company's stock worth $229,000 after buying an additional 150 shares in the last quarter. Ascent Group LLC raised its holdings in shares of iRhythm Technologies by 4.6% in the 1st quarter. Ascent Group LLC now owns 3,980 shares of the company's stock worth $462,000 after purchasing an additional 175 shares during the period. Swiss National Bank raised its holdings in shares of iRhythm Technologies by 0.3% in the 1st quarter. Swiss National Bank now owns 60,500 shares of the company's stock worth $7,018,000 after purchasing an additional 200 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of iRhythm Technologies by 79.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company's stock worth $67,000 after purchasing an additional 277 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of iRhythm Technologies by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 8,711 shares of the company's stock worth $938,000 after purchasing an additional 287 shares during the period.

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.