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iRhythm Technologies (NASDAQ:IRTC - Get Rating) had its target price hoisted by analysts at Canaccord Genuity Group from $185.00 to $198.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 31.78% from the stock's previous close.
A number of other research firms also recently weighed in on IRTC. BTIG Research raised their price target on shares of iRhythm Technologies from $155.00 to $178.00 and gave the stock a "buy" rating in a research report on Friday, August 5th. Canaccord Genuity Group boosted their target price on shares of iRhythm Technologies from $185.00 to $198.00 and gave the stock a "buy" rating in a research report on Friday. JPMorgan Chase & Co. restated an "overweight" rating and issued a $135.00 target price (down previously from $183.00) on shares of iRhythm Technologies in a research note on Wednesday, June 22nd. Citigroup lifted their price target on iRhythm Technologies to $157.00 in a research note on Tuesday, August 9th. Finally, Truist Financial cut their price objective on iRhythm Technologies from $200.00 to $165.00 and set a "buy" rating on the stock in a research note on Thursday, June 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $155.36.iRhythm Technologies Stock Performance
NASDAQ:IRTC opened at $150.25 on Friday. iRhythm Technologies has a 1-year low of $46.12 and a 1-year high of $169.54. The stock has a market cap of $4.51 billion, a P/E ratio of -33.99 and a beta of 1.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.04 and a quick ratio of 3.84. The firm has a 50-day moving average of $140.43 and a two-hundred day moving average of $135.71.
iRhythm Technologies (NASDAQ:IRTC - Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.80) EPS for the quarter, beating analysts' consensus estimates of ($0.94) by $0.14. iRhythm Technologies had a negative return on equity of 38.95% and a negative net margin of 36.15%. The firm had revenue of $102.10 million during the quarter, compared to the consensus estimate of $100.51 million. During the same quarter in the prior year, the business posted ($0.59) earnings per share. iRhythm Technologies's revenue for the quarter was up 25.6% on a year-over-year basis. On average, research analysts expect that iRhythm Technologies will post -3.06 earnings per share for the current fiscal year. Insider Transactions at iRhythm Technologies
In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,428 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $108.93, for a total value of $155,552.04. Following the sale, the executive vice president now directly owns 37,562 shares of the company's stock, valued at $4,091,628.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Douglas Devine sold 10,109 shares of the business's stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $114.22, for a total transaction of $1,154,649.98. Following the completion of the transaction, the chief financial officer now directly owns 29,702 shares in the company, valued at $3,392,562.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Daniel G. Wilson sold 1,428 shares of the firm's stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $108.93, for a total value of $155,552.04. Following the completion of the sale, the executive vice president now owns 37,562 shares in the company, valued at $4,091,628.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,276 shares of company stock worth $1,501,009. 1.64% of the stock is currently owned by company insiders. Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Truist Financial Corp raised its stake in shares of iRhythm Technologies by 0.4% during the second quarter. Truist Financial Corp now owns 20,940 shares of the company's stock valued at $2,262,000 after purchasing an additional 77 shares in the last quarter. WINTON GROUP Ltd grew its position in iRhythm Technologies by 1.2% in the 1st quarter. WINTON GROUP Ltd now owns 6,322 shares of the company's stock valued at $996,000 after buying an additional 78 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in iRhythm Technologies by 2.5% during the 1st quarter. Virginia Retirement Systems ET AL now owns 4,100 shares of the company's stock valued at $646,000 after buying an additional 100 shares during the period. Nisa Investment Advisors LLC raised its position in shares of iRhythm Technologies by 9.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,126 shares of the company's stock worth $122,000 after buying an additional 100 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of iRhythm Technologies by 3.7% in the 1st quarter. US Bancorp DE now owns 4,012 shares of the company's stock worth $632,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 98.98% of the company's stock. About iRhythm Technologies (Get Rating)
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.Further ReadingGet a free copy of the StockNews.com research report on iRhythm Technologies (IRTC)Lululemon Set To Soar Into SeptemberCould Nike Stock be Oversold, but Still Overvalued?Is Alcoa A Buy After Strong Q2 Results And More Share Buybacks?Will Royal Caribbean's Broadband Partnership Drive Revenue?Chip Gear Maker Entegris Has Potential, But Is It Buyable Now?
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