iRhythm Technologies (NASDAQ:IRTC) Given New $79.00 Price Target at Robert W. Baird

iRhythm Technologies (NASDAQ:IRTC) had its price objective lowered by Robert W. Baird from $100.00 to $79.00 in a research report report published on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

IRTC has been the subject of a number of other reports. Canaccord Genuity Group upped their price target on shares of iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Truist Financial raised their target price on iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Morgan Stanley dropped their price objective on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Needham & Company LLC decreased their target price on shares of iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, iRhythm Technologies has a consensus rating of “Moderate Buy” and an average price target of $108.50.

iRhythm Technologies Stock Performance

Shares of NASDAQ:IRTC opened at $75.04 on Friday. The firm has a market capitalization of $2.35 billion, a PE ratio of -15.44 and a beta of 1.23. iRhythm Technologies has a 12 month low of $55.92 and a 12 month high of $124.11. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.76. The business has a 50-day moving average of $69.24 and a two-hundred day moving average of $84.85.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.71). iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The business had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $146.69 million. During the same quarter in the previous year, the business posted ($0.89) EPS. The company’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, research analysts forecast that iRhythm Technologies will post -2.66 earnings per share for the current year.

Insider Transactions at iRhythm Technologies

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of the company’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 transaction of $96,506.48. Following the sale, the chief financial officer now owns 24,428 shares in the company, valued at $1,718,265.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of iRhythm Technologies

Several institutional investors have recently added to or reduced their stakes in IRTC. SeaCrest Wealth Management LLC boosted its holdings in shares of iRhythm Technologies by 7.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock valued at $229,000 after buying an additional 150 shares during the period. Ascent Group LLC raised its position in shares of iRhythm Technologies by 4.6% during the 1st quarter. Ascent Group LLC now owns 3,980 shares of the company’s stock worth $462,000 after purchasing an additional 175 shares during the period. Swiss National Bank lifted its holdings in shares of iRhythm Technologies by 0.3% in the 1st quarter. Swiss National Bank now owns 60,500 shares of the company’s stock worth $7,018,000 after purchasing an additional 200 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in 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 purchasing an additional 277 shares during the period. Finally, Arizona State Retirement System grew its stake in iRhythm Technologies by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 8,711 shares of the company’s stock worth $938,000 after buying an additional 287 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.