iRhythm Technologies (NASDAQ:IRTC) Price Target Lowered to $79.00 at Robert W. Baird

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) had its price target decreased by stock analysts at Robert W. Baird from $100.00 to $79.00 in a research note issued on Friday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price target suggests a potential upside of 5.28% from the stock's previous close.

Several other analysts have also recently commented on IRTC. The Goldman Sachs Group initiated coverage on iRhythm Technologies in a report on Friday, October 4th. They issued a "neutral" rating and a $78.00 target price on the stock. Truist Financial lifted their target price on shares of iRhythm Technologies from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. StockNews.com downgraded iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Friday, September 27th. Needham & Company LLC cut their target price on iRhythm Technologies from $119.00 to $96.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Canaccord Genuity Group boosted their price target on iRhythm Technologies from $122.00 to $137.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $108.50.

iRhythm Technologies Trading Up 3.6 %

IRTC traded up $2.60 during trading on Friday, reaching $75.04. 706,802 shares of the company's stock were exchanged, compared to its average volume of 470,295. The company has a current ratio of 6.92, a quick ratio of 6.76 and a debt-to-equity ratio of 6.50. iRhythm Technologies has a one year low of $55.92 and a one year high of $124.11. The firm has a fifty day moving average price of $69.14 and a two-hundred day moving average price of $85.45. The stock has a market capitalization of $2.34 billion, a PE ratio of -15.85 and a beta of 1.22.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $147.54 million during the quarter, compared to the consensus estimate of $146.69 million. iRhythm Technologies had a negative return on equity of 106.93% and a negative net margin of 26.90%. The business's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.89) EPS. As a group, equities research analysts forecast that iRhythm Technologies will post -2.66 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Brice Bobzien sold 1,372 shares of the firm's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the transaction, the chief financial officer now owns 24,428 shares of the company's stock, valued at approximately $1,718,265.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On iRhythm Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC grew its stake in shares of iRhythm Technologies by 7.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company's stock worth $229,000 after acquiring an additional 150 shares in the last quarter. Ascent Group LLC lifted its position in shares of iRhythm Technologies by 4.6% during the 1st quarter. Ascent Group LLC now owns 3,980 shares of the company's stock worth $462,000 after buying an additional 175 shares in the last quarter. Swiss National Bank boosted its stake 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 buying an additional 200 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake 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 buying an additional 277 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of iRhythm Technologies by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 8,711 shares of the company's stock valued at $938,000 after purchasing an additional 287 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.