Robert W. Baird Cuts iRhythm Technologies (NASDAQ:IRTC) Price Target to $79.00

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

Several other equities analysts have also recently issued reports on IRTC. Citigroup decreased their price target on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Oppenheimer decreased their target price on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Morgan Stanley lowered their target price on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Truist Financial upped their price target on shares of iRhythm Technologies from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.50.

iRhythm Technologies Price Performance

IRTC stock traded up $2.60 during trading on Friday, reaching $75.04. 706,802 shares of the company were exchanged, compared to its average volume of 470,295. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -15.44 and a beta of 1.22. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76. The company has a 50-day moving average of $69.24 and a two-hundred day moving average of $85.21. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). The firm had revenue of $147.54 million during the quarter, compared to the consensus estimate of $146.69 million. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 106.93%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.89) earnings per share. As a group, equities analysts predict that iRhythm Technologies will post -2.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies 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 transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is currently owned by corporate insiders.

Institutional Trading of iRhythm Technologies

A number of institutional investors and hedge funds have recently modified their holdings of IRTC. Headlands Technologies LLC raised its stake in shares of iRhythm Technologies by 10,650.0% during the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock worth $50,000 after purchasing an additional 426 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of iRhythm Technologies by 79.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after purchasing an additional 277 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of iRhythm Technologies in the 1st quarter worth approximately $126,000. Russell Investments Group Ltd. increased its position 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 worth $185,000 after buying an additional 1,594 shares during the last quarter. Finally, nVerses Capital LLC raised its stake in shares of iRhythm Technologies by 400.0% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $148,000 after buying an additional 1,600 shares during the period.

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.