iRhythm Technologies (NASDAQ:IRTC) Price Target Cut to $80.00 by Analysts at Truist Financial

iRhythm Technologies (NASDAQ:IRTC) had its price objective reduced by Truist Financial from $117.00 to $80.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

IRTC has been the subject of several other research reports. Citigroup cut their price objective on iRhythm Technologies from $135.00 to $110.00 and set a buy rating for the company in a report on Thursday, August 22nd. Robert W. Baird cut their price objective on iRhythm Technologies from $120.00 to $110.00 and set an outperform rating for the company in a research report 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 report on Friday, August 2nd. The Goldman Sachs Group began coverage on iRhythm Technologies in a report on Friday, October 4th. They set a neutral rating and a $78.00 target price for the company. Finally, Canaccord Genuity Group lifted their price target on iRhythm Technologies from $122.00 to $137.00 and gave the stock a buy rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, iRhythm Technologies has a consensus rating of Moderate Buy and a consensus target price of $112.40.

iRhythm Technologies Trading Up 1.5 %

NASDAQ:IRTC opened at $57.94 on Monday. The business’s 50 day moving average is $68.72 and its two-hundred day moving average is $88.92. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $124.11. The company has a market cap of $1.80 billion, a PE ratio of -13.70 and a beta of 1.22. The company has a quick ratio of 6.76, a current ratio of 6.92 and a debt-to-equity ratio of 6.50.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.28. The business had revenue of $148.05 million during 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%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.61) EPS. On average, analysts predict that iRhythm Technologies will post -2.66 EPS for the current year.

Insider Activity at iRhythm Technologies

In related news, CFO Brice Bobzien sold 1,372 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the sale, the chief financial officer now directly owns 24,428 shares of the company’s stock, valued at approximately $1,718,265.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other iRhythm Technologies news, insider Chad Patterson sold 3,012 shares of the company’s 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 $224,875.92. Following the completion of the transaction, the insider now owns 37,133 shares of the company’s stock, valued at $2,772,349.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brice Bobzien sold 1,372 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the transaction, the chief financial officer now directly owns 24,428 shares of the company’s stock, valued at approximately $1,718,265.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,072 shares of company stock valued at $372,748. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of iRhythm Technologies

Several institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC raised its holdings in shares of iRhythm Technologies by 10,650.0% in the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock worth $50,000 after buying an additional 426 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of iRhythm Technologies by 79.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after acquiring an additional 277 shares in the last quarter. SG Americas Securities LLC bought a new stake in iRhythm Technologies during the 1st quarter worth approximately $126,000. Russell Investments Group Ltd. increased its holdings in iRhythm Technologies by 79,700.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock valued at $185,000 after purchasing an additional 1,594 shares in the last quarter. Finally, SeaCrest Wealth Management LLC raised its position in 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 purchasing an additional 150 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.