iRhythm Technologies (NASDAQ:IRTC) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of iRhythm Technologies (NASDAQ:IRTC) in a research report released on Friday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $78.00 price objective on the stock.

Several other research firms also recently weighed in on IRTC. Canaccord Genuity Group lifted their target price on iRhythm Technologies from $122.00 to $137.00 and gave the stock a buy rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. cut their price target 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. Robert W. Baird cut their price target on iRhythm Technologies from $120.00 to $110.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. Oppenheimer cut their price target on iRhythm Technologies from $165.00 to $145.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. Finally, Needham & Company LLC cut their price target on iRhythm Technologies from $138.00 to $119.00 and set a buy rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $116.10.

iRhythm Technologies Price Performance

Shares of IRTC traded down $3.57 during mid-day trading on Friday, hitting $62.71. 894,886 shares of the stock were exchanged, compared to its average volume of 443,098. The company has a market cap of $1.95 billion, a PE ratio of -14.83 and a beta of 1.22. iRhythm Technologies has a 52-week low of $60.88 and a 52-week high of $124.11. The firm has a 50-day moving average of $71.54 and a two-hundred day moving average of $91.40. The company has a debt-to-equity ratio of 6.50, a quick ratio of 6.76 and a current ratio of 6.92.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, beating 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 company had revenue of $148.05 million for the quarter, compared to analyst estimates of $146.15 million. During the same quarter in the prior year, the firm posted ($0.61) EPS. iRhythm Technologies’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities analysts predict that iRhythm Technologies will post -2.66 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the sale, 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 SEC, which is available through this hyperlink. In related news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the sale, 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 SEC, which is available through this hyperlink. Also, EVP Mervin Smith sold 688 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 directly owns 10,360 shares of the company’s stock, 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 sold 5,072 shares of company stock valued at $372,748 over the last quarter. 0.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IRTC. Headlands Technologies LLC lifted its holdings in iRhythm Technologies by 10,650.0% in the first quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after acquiring an additional 426 shares during the period. Nisa Investment Advisors LLC raised its stake 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 worth $67,000 after buying an additional 277 shares during the period. SG Americas Securities LLC acquired a new position in shares of iRhythm Technologies during the 1st quarter worth approximately $126,000. Russell Investments Group Ltd. raised its stake 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 worth $185,000 after buying an additional 1,594 shares during the period. Finally, SeaCrest Wealth Management LLC raised its stake in shares of iRhythm Technologies by 7.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock worth $229,000 after buying an additional 150 shares during the period.

About iRhythm Technologies

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.