iRhythm Technologies (NASDAQ:IRTC) Given New $95.00 Price Target at Truist Financial

iRhythm Technologies (NASDAQ:IRTC) had its price objective upped by research analysts at Truist Financial from $80.00 to $95.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 27.76% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. The Goldman Sachs Group initiated coverage on iRhythm Technologies in a report on Friday, October 4th. They set a “neutral” rating and a $78.00 target price on the stock. Needham & Company LLC dropped their target price on iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Robert W. Baird dropped their target price on iRhythm Technologies from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. StockNews.com lowered shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. Finally, Citigroup decreased their price target on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. One equities 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.90.

iRhythm Technologies Stock Performance

IRTC opened at $74.36 on Tuesday. The business’s 50 day moving average is $68.28 and its 200-day moving average is $86.84. The stock has a market cap of $2.31 billion, a PE ratio of -17.58 and a beta of 1.22. 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 has a twelve month low of $55.92 and a twelve month high of $124.11.

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

Insiders Place Their Bets

In other iRhythm Technologies news, insider Chad Patterson sold 3,012 shares of iRhythm Technologies stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $224,875.92. Following the transaction, the insider now directly owns 37,133 shares in the company, valued at approximately $2,772,349.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Brice Bobzien sold 1,372 shares of the business’s stock in a transaction on Friday, August 9th. The shares were 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 in the company, valued at $1,718,265.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chad Patterson sold 3,012 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $224,875.92. Following the transaction, the insider now owns 37,133 shares in the company, valued at approximately $2,772,349.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,072 shares of company stock worth $372,748. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On iRhythm Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC grew its holdings in shares of iRhythm Technologies by 10,650.0% during the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after acquiring an additional 426 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of iRhythm Technologies by 79.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after acquiring an additional 277 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of iRhythm Technologies during the 1st quarter valued at $126,000. Russell Investments Group Ltd. grew its holdings in shares of iRhythm Technologies by 79,700.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock valued at $185,000 after acquiring an additional 1,594 shares in the last quarter. Finally, nVerses Capital LLC lifted its stake in shares of iRhythm Technologies by 400.0% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $148,000 after purchasing an additional 1,600 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.