iRhythm Technologies (NASDAQ:IRTC - Get Free Report) had its price target hoisted by equities research analysts at Truist Financial from $111.00 to $145.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price target would indicate a potential upside of 20.91% from the company's previous close.
Other analysts have also recently issued reports about the stock. Needham & Company LLC increased their price target on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a "buy" rating in a research note on Friday. Robert W. Baird reduced their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company raised 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. Oppenheimer raised their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, January 8th. Finally, Canaccord Genuity Group raised 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.55.
Read Our Latest Analysis on IRTC
Shares of IRTC traded up $7.26 during mid-day trading on Friday, hitting $119.93. 998,083 shares of the company traded hands, compared to its average volume of 423,203. iRhythm Technologies has a one year low of $55.92 and a one year 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 business has a 50-day moving average of $101.11 and a 200 day moving average of $83.27. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -24.76 and a beta of 1.29.
iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.29) by $0.30. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The business had revenue of $164.33 million for the quarter, compared to analysts' expectations of $158.30 million. As a group, equities analysts expect that iRhythm Technologies will post -3.35 earnings per share for the current fiscal year.
In other iRhythm Technologies 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 transaction of $214,037.88. Following the completion of the transaction, the insider now owns 35,327 shares in the company, valued at approximately $3,034,236.03. This represents 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. 0.68% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in IRTC. Eventide Asset Management LLC increased its holdings in iRhythm Technologies by 170.8% during the 3rd quarter. Eventide Asset Management LLC now owns 736,721 shares of the company's stock worth $54,694,000 after purchasing an additional 464,629 shares in the last quarter. First Light Asset Management LLC bought a new position in iRhythm Technologies during the 4th quarter worth about $38,818,000. Bessemer Group Inc. increased its holdings in iRhythm Technologies by 111.7% during the 4th quarter. Bessemer Group Inc. now owns 568,007 shares of the company's stock worth $51,217,000 after purchasing an additional 299,726 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of iRhythm Technologies by 364.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 355,147 shares of the company's stock valued at $32,024,000 after acquiring an additional 278,743 shares in the last quarter. Finally, Braidwell LP grew its holdings in shares of iRhythm Technologies by 48.7% in the 3rd quarter. Braidwell LP now owns 782,557 shares of the company's stock valued at $58,097,000 after acquiring an additional 256,200 shares in the last quarter.
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.
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