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

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

Other analysts have also issued research reports about the company. Truist Financial boosted their price target on iRhythm Technologies from $111.00 to $145.00 and gave the company a “buy” rating in a report on Friday, February 21st. Oppenheimer boosted their price objective on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Needham & Company LLC boosted their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Canaccord Genuity Group boosted their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Robert W. Baird lowered their price objective on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.73.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $109.42 on Monday. The stock has a 50-day simple moving average of $103.26 and a two-hundred day simple moving average of $84.61. 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 quick ratio of 6.12 and a current ratio of 6.27. The firm has a market capitalization of $3.44 billion, a PE ratio of -30.06 and a beta of 1.29.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, beating 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 business had revenue of $164.33 million during the quarter, compared to analyst estimates of $158.30 million. Analysts forecast that iRhythm Technologies will post -1.98 EPS for the current year.

Insider Buying and Selling

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total transaction of $214,037.88. Following the sale, the insider now directly owns 35,327 shares of the company’s stock, valued at $3,034,236.03. The trade was a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On iRhythm Technologies

Large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. increased its stake in iRhythm Technologies by 272.0% during the third quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock worth $5,935,000 after acquiring an additional 58,448 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in iRhythm Technologies during the third quarter worth approximately $1,497,000. Eagle Asset Management Inc. increased its stake in iRhythm Technologies by 44.9% during the third quarter. Eagle Asset Management Inc. now owns 100,655 shares of the company’s stock worth $7,473,000 after acquiring an additional 31,193 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in iRhythm Technologies by 38.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock worth $52,501,000 after acquiring an additional 195,246 shares during the last quarter. Finally, Barclays PLC increased its stake in iRhythm Technologies by 34.3% during the third quarter. Barclays PLC now owns 209,247 shares of the company’s stock worth $15,534,000 after acquiring an additional 53,498 shares during 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.