iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $138.00 at Needham & Company LLC

iRhythm Technologies (NASDAQ:IRTC - Free Report) had its target price increased by Needham & Company LLC from $125.00 to $138.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

IRTC has been the topic of a number of other reports. Robert W. Baird decreased their price target on iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Truist Financial raised their target price on shares of iRhythm Technologies from $85.00 to $111.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Oppenheimer upped 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 reissued an "equal weight" rating and set a $86.00 price objective on shares of iRhythm Technologies in a research note on Tuesday, December 3rd. Finally, Canaccord Genuity Group lifted their target price on iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a report 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $119.73.

iRhythm Technologies Trading Down 4.2 %

Shares of iRhythm Technologies stock traded down $4.97 during mid-day trading on Friday, hitting $113.91. 799,027 shares of the stock were exchanged, compared to its average volume of 466,710. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -31.29 and a beta of 1.29. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $128.52. 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 company has a 50-day simple moving average of $102.34 and a 200 day simple moving average of $84.13.

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

Insider Activity

In related news, insider Patrick Michael Murphy sold 2,492 shares of the stock in a transaction dated 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 owns 35,327 shares of the company's stock, 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 accessible through this link. Insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On iRhythm Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. increased its stake in shares of iRhythm Technologies by 27.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,512 shares of the company's stock worth $261,000 after buying an additional 754 shares during the last quarter. Values First Advisors Inc. acquired a new position in iRhythm Technologies during the 3rd quarter worth $380,000. SteelPeak Wealth LLC acquired a new stake in shares of iRhythm Technologies in the 3rd quarter valued at about $592,000. Harbor Capital Advisors Inc. lifted its position in shares of iRhythm Technologies by 272.0% during the third quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company's stock worth $5,935,000 after purchasing an additional 58,448 shares during the last quarter. Finally, WoodTrust Financial Corp lifted its position in shares of iRhythm Technologies by 28.4% during the third quarter. WoodTrust Financial Corp now owns 11,307 shares of the company's stock worth $839,000 after purchasing an additional 2,500 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.