iRhythm Technologies (NASDAQ:IRTC) Price Target Cut to $147.00 by Analysts at Citigroup – MarketBeat

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iRhythm Technologies (NASDAQ:IRTC – Get Rating) had its price objective decreased by analysts at Citigroup from $157.00 to $147.00 in a research note issued to investors on Wednesday, The Fly reports. Citigroup’s price target indicates a potential upside of 9.19% from the stock’s current price.
A number of other equities analysts also recently commented on the company. Truist Financial decreased their target price on iRhythm Technologies from $200.00 to $165.00 and set a “buy” rating for the company in a research note on Thursday, June 16th. JPMorgan Chase & Co. lifted their target price on iRhythm Technologies from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, September 22nd. BTIG Research boosted their price objective on iRhythm Technologies from $155.00 to $178.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Canaccord Genuity Group boosted their price objective on iRhythm Technologies from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Friday, September 2nd. Finally, Canaccord Genuity Group boosted their price objective on iRhythm Technologies from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Friday, September 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $161.36.

iRhythm Technologies Stock Up 5.6 %

Shares of NASDAQ IRTC opened at $134.63 on Wednesday. iRhythm Technologies has a 1 year low of $58.05 and a 1 year high of $169.54. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of -30.46 and a beta of 1.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.84 and a current ratio of 4.04. The stock’s 50-day simple moving average is $146.99 and its 200-day simple moving average is $138.73.
iRhythm Technologies (NASDAQ:IRTC – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported ($0.79) EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $100.51 million. During the same period in the previous year, the firm posted ($0.59) earnings per share. iRhythm Technologies’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, equities analysts anticipate that iRhythm Technologies will post -3.07 earnings per share for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, COO Douglas Devine sold 2,000 shares of the company’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $125.00, for a total value of $250,000.00. Following the transaction, the chief operating officer now owns 27,702 shares of the company’s stock, valued at $3,462,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other iRhythm Technologies news, EVP Daniel G. Wilson sold 3,000 shares of the business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $122.57, for a total transaction of $367,710.00. Following the sale, the executive vice president now directly owns 34,562 shares of the company’s stock, valued at approximately $4,236,264.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Douglas Devine sold 2,000 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $125.00, for a total transaction of $250,000.00. Following the sale, the chief operating officer now directly owns 27,702 shares in the company, valued at $3,462,750. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,199 shares of company stock valued at $1,786,739. Corporate insiders own 1.64% of the company’s stock.

Institutional Trading of iRhythm Technologies

Large investors have recently added to or reduced their stakes in the company. Ascent Group LLC raised its stake in iRhythm Technologies by 6.5% during the 1st quarter. Ascent Group LLC now owns 2,700 shares of the company’s stock valued at $425,000 after purchasing an additional 165 shares during the period. Rock Springs Capital Management LP raised its stake in iRhythm Technologies by 0.7% during the 1st quarter. Rock Springs Capital Management LP now owns 436,000 shares of the company’s stock valued at $68,657,000 after purchasing an additional 3,000 shares during the period. FDx Advisors Inc. acquired a new stake in iRhythm Technologies during the 1st quarter valued at $263,000. Atika Capital Management LLC acquired a new stake in iRhythm Technologies during the 1st quarter valued at $21,508,000. Finally, Steel Peak Wealth Management LLC acquired a new position in shares of iRhythm Technologies in the first quarter worth $527,000. 98.98% of the stock is owned by institutional investors and hedge funds.

iRhythm Technologies Company Profile

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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.

Further Reading

• Get a free copy of the StockNews.com research report on iRhythm Technologies (IRTC)
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