iRhythm Technologies (NASDAQ:IRTC) PT Lowered to $80.00 at Truist Financial

iRhythm Technologies (NASDAQ:IRTC) had its price target decreased by Truist Financial from $117.00 to $80.00 in a report published on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Canaccord Genuity Group upped their price objective on iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Needham & Company LLC dropped their price target on shares of iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley decreased their price objective on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. The Goldman Sachs Group initiated coverage on shares of iRhythm Technologies in a report on Friday, October 4th. They issued a “neutral” rating and a $78.00 target price on the stock. Finally, Wolfe Research upgraded iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 price target for the company in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.40.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $61.77 on Monday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -14.60 and a beta of 1.22. iRhythm Technologies has a 12 month low of $55.92 and a 12 month high of $124.11. The firm has a fifty day simple moving average of $68.33 and a 200 day simple moving average of $88.34. 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 (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.28. The company had revenue of $148.05 million during the quarter, compared to the consensus estimate of $146.15 million. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 84.14%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.61) EPS. Research analysts forecast that iRhythm Technologies will post -2.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Brice Bobzien sold 1,372 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the sale, the chief financial officer now directly owns 24,428 shares in the company, valued at approximately $1,718,265.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Brice Bobzien sold 1,372 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the transaction, the chief financial officer now owns 24,428 shares of the company’s stock, valued at $1,718,265.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mervin Smith sold 688 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $74.66, for a total transaction of $51,366.08. Following the sale, the executive vice president now owns 10,360 shares in the company, valued at $773,477.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,072 shares of company stock worth $372,748 in the last quarter. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IRTC. Vanguard Group Inc. increased its stake in shares of iRhythm Technologies by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,993,443 shares of the company’s stock valued at $320,418,000 after purchasing an additional 35,694 shares during the last quarter. CHICAGO TRUST Co NA bought a new position in iRhythm Technologies in the first quarter valued at about $249,000. WoodTrust Financial Corp raised its stake in iRhythm Technologies by 3.6% during the first quarter. WoodTrust Financial Corp now owns 14,232 shares of the company’s stock worth $1,651,000 after acquiring an additional 500 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of iRhythm Technologies by 148.7% in the first quarter. Diversified Trust Co now owns 4,934 shares of the company’s stock worth $572,000 after acquiring an additional 2,950 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of iRhythm Technologies by 13.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 415,026 shares of the company’s stock valued at $48,143,000 after purchasing an additional 49,168 shares in 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.