iRhythm Technologies (NASDAQ:IRTC) PT Raised to $137.00 at Canaccord Genuity Group

iRhythm Technologies (NASDAQ:IRTC) had its price target boosted by Canaccord Genuity Group from $122.00 to $137.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Robert W. Baird dropped their target price on shares of iRhythm Technologies from $120.00 to $110.00 and set an outperform rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on iRhythm Technologies from $133.00 to $100.00 and set an overweight rating on the stock in a research note on Friday, August 2nd. Oppenheimer dropped their price target on iRhythm Technologies from $165.00 to $145.00 and set an outperform rating for the company in a research note on Friday, August 2nd. Truist Financial reiterated a buy rating and set a $117.00 price objective (down previously from $134.00) on shares of iRhythm Technologies in a research report on Friday, August 2nd. Finally, Needham & Company LLC lowered their target price on shares of iRhythm Technologies from $138.00 to $119.00 and set a buy rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, iRhythm Technologies has a consensus rating of Moderate Buy and an average target price of $120.33.

iRhythm Technologies Stock Up 1.7 %

NASDAQ IRTC opened at $72.87 on Wednesday. iRhythm Technologies has a 52 week low of $60.88 and a 52 week high of $124.11. The company has a quick ratio of 6.76, a current ratio of 6.92 and a debt-to-equity ratio of 6.50. The company has a market capitalization of $2.27 billion, a P/E ratio of -17.23 and a beta of 1.22. The stock’s 50-day moving average price is $74.22 and its 200-day moving average price is $92.61.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, August 1st. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.28. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 84.14%. The company had revenue of $148.05 million for the quarter, compared to analysts’ expectations of $146.15 million. During the same quarter last year, the business earned ($0.61) EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts predict that iRhythm Technologies will post -2.66 earnings per share for the current year.

Insider Buying and Selling at iRhythm Technologies

In other news, EVP Mervin Smith sold 688 shares of iRhythm Technologies stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $51,366.08. Following the completion of the transaction, the executive vice president now owns 10,360 shares in the company, valued at approximately $773,477.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Mervin Smith sold 688 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $51,366.08. Following the completion of the sale, the executive vice president now directly owns 10,360 shares in the company, valued at $773,477.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction 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 of the company’s stock, valued at $1,718,265.52. The disclosure for this sale can be found here. Insiders have sold a total of 6,476 shares of company stock worth $521,081 over the last ninety days. Company insiders own 0.68% of the company’s stock.

Institutional Trading of iRhythm Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of iRhythm Technologies by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 7,208 shares of the company’s stock valued at $772,000 after buying an additional 113 shares during the last quarter. SeaCrest Wealth Management LLC boosted its holdings in iRhythm Technologies by 7.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock valued at $229,000 after acquiring an additional 150 shares during the period. Ascent Group LLC grew its position in iRhythm Technologies by 4.6% in the 1st quarter. Ascent Group LLC now owns 3,980 shares of the company’s stock valued at $462,000 after acquiring an additional 175 shares during the last quarter. Swiss National Bank increased its stake in iRhythm Technologies by 0.3% in the first 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. Finally, Nisa Investment Advisors LLC lifted its position in shares of iRhythm Technologies by 79.6% during the second 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 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.