iRhythm Technologies (NASDAQ:IRTC) Given New $145.00 Price Target at Truist Financial

iRhythm Technologies (NASDAQ:IRTC) had its price target lifted by Truist Financial from $111.00 to $145.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on the stock. Oppenheimer boosted their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Robert W. Baird cut their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Needham & Company LLC upped their price target on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a report on Friday. Canaccord Genuity Group lifted their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company boosted their price objective on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $115.55.

iRhythm Technologies Stock Up 6.1 %

Shares of iRhythm Technologies stock opened at $119.58 on Friday. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -24.61 and a beta of 1.29. The stock has a 50-day simple moving average of $101.11 and a 200-day simple moving average of $83.27. iRhythm Technologies has a 52-week low of $55.92 and a 52-week high of $128.52. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.29) by $0.30. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The firm had revenue of $164.33 million for the quarter, compared to the consensus estimate of $158.30 million. On average, equities research analysts expect that iRhythm Technologies will post -3.35 earnings per share for the current fiscal year.

Insider Activity at iRhythm Technologies

In related 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 transaction, the insider now directly owns 35,327 shares of the company’s stock, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On iRhythm Technologies

Several institutional investors and hedge funds have recently bought and sold shares of IRTC. Van ECK Associates Corp boosted its position in shares of iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after acquiring an additional 162 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in iRhythm Technologies by 5.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company’s stock valued at $297,000 after purchasing an additional 184 shares in the last quarter. Invesco Ltd. boosted its holdings in iRhythm Technologies by 1.1% during the fourth quarter. Invesco Ltd. now owns 19,200 shares of the company’s stock valued at $1,731,000 after purchasing an additional 207 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings 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 buying an additional 210 shares in the last quarter. Finally, KBC Group NV raised its holdings 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 buying 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.