iRhythm Technologies (NASDAQ:IRTC) PT Lowered to $172.00

iRhythm Technologies (NASDAQ:IRTCGet Rating) had its target price decreased by Morgan Stanley from $190.00 to $172.00 in a report released on Thursday, Stock Target Advisor reports. Morgan Stanley currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. BTIG Research increased their target price on iRhythm Technologies from $155.00 to $178.00 and gave the stock a buy rating in a report on Friday, August 5th. JPMorgan Chase & Co. increased their target price on iRhythm Technologies from $185.00 to $190.00 in a report on Thursday. Canaccord Genuity Group increased their target price on iRhythm Technologies from $185.00 to $198.00 and gave the stock a buy rating in a report on Friday, September 2nd. Canaccord Genuity Group raised their price target on iRhythm Technologies from $185.00 to $198.00 and gave the stock a buy rating in a report on Friday, September 2nd. Finally, Truist Financial cut their price target on iRhythm Technologies from $200.00 to $165.00 and set a buy rating on the stock in a report on Thursday, June 16th. Two analysts have 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. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $162.27.

iRhythm Technologies Price Performance

Shares of NASDAQ IRTC opened at $129.42 on Thursday. iRhythm Technologies has a fifty-two week low of $56.49 and a fifty-two week high of $169.54. The business has a 50 day moving average price of $150.51 and a two-hundred day moving average price of $138.72. The company has a quick ratio of 3.84, a current ratio of 4.04 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.89 billion, a PE ratio of -29.28 and a beta of 1.51.

iRhythm Technologies (NASDAQ:IRTCGet Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.79) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.15. iRhythm Technologies had a negative return on equity of 38.95% and a negative net margin of 36.15%. The company had revenue of $102.10 million for the quarter, compared to the consensus estimate of $100.51 million. During the same quarter last year, the business posted ($0.59) EPS. iRhythm Technologies’s quarterly revenue was up 25.6% compared to the same quarter last year. Sell-side analysts expect that iRhythm Technologies will post -3.06 earnings per share for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,428 shares of iRhythm Technologies stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $108.93, for a total transaction of $155,552.04. Following the sale, the executive vice president now owns 37,562 shares of the company’s stock, valued at approximately $4,091,628.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Daniel G. Wilson sold 1,428 shares of iRhythm Technologies stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $108.93, for a total transaction of $155,552.04. Following the transaction, the executive vice president now directly owns 37,562 shares in the company, valued at approximately $4,091,628.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Douglas Devine sold 10,109 shares of iRhythm Technologies stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $114.22, for a total value of $1,154,649.98. Following the transaction, the chief financial officer now owns 29,702 shares in the company, valued at $3,392,562.44. The disclosure for this sale can be found here. Insiders have sold 12,866 shares of company stock valued at $1,459,508 in the last quarter. Corporate insiders own 1.64% of the company’s stock.

Hedge Funds Weigh In On iRhythm Technologies

Several hedge funds have recently modified their holdings of the company. LTS One Management LP acquired a new position in shares of iRhythm Technologies in the 4th quarter worth $94,152,000. Capital Research Global Investors grew its holdings in shares of iRhythm Technologies by 777.0% in the 4th quarter. Capital Research Global Investors now owns 877,000 shares of the company’s stock worth $103,214,000 after acquiring an additional 777,000 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of iRhythm Technologies in the 1st quarter worth $84,724,000. Invesco Ltd. grew its holdings in shares of iRhythm Technologies by 71.6% in the 4th quarter. Invesco Ltd. now owns 741,695 shares of the company’s stock worth $87,290,000 after acquiring an additional 309,520 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of iRhythm Technologies by 130.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 486,003 shares of the company’s stock worth $52,501,000 after acquiring an additional 275,500 shares during the last quarter. 98.98% of the stock is currently owned by institutional investors and hedge funds.

iRhythm Technologies Company Profile

(Get Rating)

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.

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