iRhythm Technologies (NASDAQ:IRTC) Price Target Increased to $138.00 by Analysts at Needham & Company LLC

iRhythm Technologies (NASDAQ:IRTC) had its target price upped by Needham & Company LLC from $137.00 to $138.00 in a research report released on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on IRTC. JPMorgan Chase & Co. reduced their price target on shares of iRhythm Technologies from $142.00 to $133.00 and set an overweight rating on the stock in a research report on Friday, February 23rd. Canaccord Genuity Group lifted their target price on iRhythm Technologies from $121.00 to $133.00 and gave the company a buy rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $134.00.

iRhythm Technologies Stock Performance

Shares of IRTC stock opened at $106.83 on Friday. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -25.26 and a beta of 1.31. iRhythm Technologies has a one year low of $70.24 and a one year high of $132.92. The company’s 50-day simple moving average is $110.99 and its 200-day simple moving average is $103.51. The company has a debt-to-equity ratio of 7.13, a quick ratio of 6.95 and a current ratio of 7.10.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, February 22nd. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.66). The firm had revenue of $132.51 million during the quarter, compared to analyst estimates of $131.14 million. iRhythm Technologies had a negative return on equity of 69.87% and a negative net margin of 25.33%. Equities analysts anticipate that iRhythm Technologies will post -3.14 earnings per share for the current fiscal year.

Insider Transactions at iRhythm Technologies

In related news, CEO Quentin S. Blackford sold 24,701 shares of iRhythm Technologies stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $3,012,533.96. Following the sale, the chief executive officer now directly owns 180,015 shares in the company, valued at $21,954,629.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Daniel G. Wilson sold 1,261 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $153,791.56. Following the completion of the sale, the executive vice president now directly owns 32,967 shares of the company’s stock, valued at approximately $4,020,655.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Quentin S. Blackford sold 24,701 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $3,012,533.96. Following the transaction, the chief executive officer now owns 180,015 shares in the company, valued at approximately $21,954,629.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,052 shares of company stock valued at $4,274,942. 0.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On iRhythm Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of iRhythm Technologies by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 2,993,443 shares of the company’s stock worth $320,418,000 after buying an additional 35,694 shares in the last quarter. Capital Research Global Investors raised its position in iRhythm Technologies by 5.1% in the fourth quarter. Capital Research Global Investors now owns 2,495,626 shares of the company’s stock worth $267,132,000 after acquiring an additional 121,709 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in iRhythm Technologies by 5.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,071,500 shares of the company’s stock valued at $221,733,000 after acquiring an additional 108,875 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of iRhythm Technologies by 3.4% during the 3rd quarter. Mackenzie Financial Corp now owns 1,262,179 shares of the company’s stock valued at $111,425,000 after purchasing an additional 41,052 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in shares of iRhythm Technologies by 6.6% in the 3rd quarter. Blair William & Co. IL now owns 1,111,417 shares of the company’s stock worth $104,762,000 after purchasing an additional 68,983 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.