iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $124.00

iRhythm Technologies (NASDAQ:IRTC) had its target price raised by The Goldman Sachs Group from $91.00 to $124.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts also recently weighed in on IRTC. Needham & Company LLC increased their price target on iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Robert W. Baird reduced their price objective on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company raised their price objective on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. Canaccord Genuity Group raised their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Oppenheimer raised their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, iRhythm Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $119.73.

iRhythm Technologies Trading Down 3.9 %

Shares of NASDAQ IRTC opened at $109.42 on Monday. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The business’s 50 day moving average price is $103.26 and its 200-day moving average price is $84.61. iRhythm Technologies has a fifty-two week low of $55.92 and a fifty-two week high of $128.52. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -30.06 and a beta of 1.29.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.30. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The firm had revenue of $164.33 million for the quarter, compared to the consensus estimate of $158.30 million. On average, sell-side analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insider Activity

In other news, insider Patrick Michael Murphy sold 2,492 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the sale, the insider now owns 35,327 shares of the company’s stock, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.68% of the company’s stock.

Institutional Trading of iRhythm Technologies

A number of institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp boosted its position in shares of iRhythm Technologies by 41.3% in the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after purchasing an additional 162 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of iRhythm Technologies by 5.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company’s stock worth $297,000 after purchasing an additional 184 shares in the last quarter. Invesco Ltd. boosted its position in shares of iRhythm Technologies by 1.1% in the 4th quarter. Invesco Ltd. now owns 19,200 shares of the company’s stock worth $1,731,000 after purchasing an additional 207 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of iRhythm Technologies by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,271 shares of the company’s stock worth $295,000 after purchasing an additional 210 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of iRhythm Technologies by 45.1% in the 4th quarter. KBC Group NV now owns 1,319 shares of the company’s stock worth $119,000 after purchasing an additional 410 shares in the last quarter.

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.