Brokerages Set iRhythm Technologies, Inc. (NASDAQ:IRTC) PT at $116.10

by · The Markets Daily

iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $116.10.

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their target price on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Citigroup lowered their target price on iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Robert W. Baird decreased their price objective 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 decreased their target price 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, Truist Financial reiterated a “buy” rating and issued a $117.00 price objective (down from $134.00) on shares of iRhythm Technologies in a report on Friday, August 2nd.

Get Our Latest Stock Analysis on IRTC

Insider Activity

In related news, EVP Mervin Smith sold 688 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $51,366.08. Following the transaction, the executive vice president now owns 10,360 shares of the company’s stock, valued at $773,477.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Mervin Smith sold 688 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was 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 owns 10,360 shares in the company, valued at $773,477.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,072 shares of company stock valued at $372,748. 0.68% of the stock is currently owned by insiders.

Institutional Trading of iRhythm Technologies

A number of institutional investors have recently made changes to their positions in 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 last quarter. Nisa Investment Advisors LLC increased its position in shares of iRhythm Technologies by 79.6% during the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after acquiring an additional 277 shares during the period. SG Americas Securities LLC purchased a new position in iRhythm Technologies in the first quarter valued at $126,000. Russell Investments Group Ltd. boosted its stake in iRhythm Technologies by 79,700.0% in the first 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, SeaCrest Wealth Management LLC boosted its stake in iRhythm Technologies by 7.6% in the second quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock valued at $229,000 after acquiring an additional 150 shares in the last quarter.

iRhythm Technologies Stock Down 2.2 %

IRTC opened at $57.38 on Friday. The company has a current ratio of 6.92, a quick ratio of 6.76 and a debt-to-equity ratio of 6.50. The stock has a market cap of $1.78 billion, a PE ratio of -13.57 and a beta of 1.22. The stock’s fifty day simple moving average is $69.85 and its 200 day simple moving average is $90.31. iRhythm Technologies has a 1-year low of $56.50 and a 1-year high of $124.11.

iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.28. The company had revenue of $148.05 million for the quarter, compared to analyst estimates of $146.15 million. iRhythm Technologies had a negative return on equity of 84.14% and a negative net margin of 24.50%. iRhythm Technologies’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.61) EPS. As a group, research analysts expect that iRhythm Technologies will post -2.66 earnings per share for the current year.

About iRhythm Technologies

(Get Free Report

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.

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