Truist Financial Boosts iRhythm Technologies (NASDAQ:IRTC) Price Target to $95.00

iRhythm Technologies (NASDAQ:IRTC) had its price objective boosted by Truist Financial from $80.00 to $95.00 in a research note released on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of iRhythm Technologies in a research report on Friday, October 4th. They set a “neutral” rating and a $78.00 price objective for the company. Morgan Stanley dropped their price target on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Robert W. Baird reduced their price objective on iRhythm Technologies from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. reduced their price target on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.90.

iRhythm Technologies Stock Down 3.1 %

Shares of IRTC opened at $75.68 on Tuesday. The firm has a 50 day simple moving average of $68.51 and a two-hundred day simple moving average of $86.78. The company has a market cap of $2.36 billion, a P/E ratio of -17.72 and a beta of 1.22. iRhythm Technologies has a one year low of $55.92 and a one year high of $124.11. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.28. The company had revenue of $148.05 million during the quarter, compared to analysts’ expectations of $146.15 million. iRhythm Technologies had a negative return on equity of 84.14% and a negative net margin of 24.50%. iRhythm Technologies’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.61) EPS. Research analysts forecast that iRhythm Technologies will post -2.66 EPS for the current fiscal year.

Insider Activity

In related news, insider Chad Patterson sold 3,012 shares of iRhythm Technologies stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Brice Bobzien sold 1,372 shares of the firm’s stock in a transaction that occurred 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 owns 24,428 shares of the company’s stock, valued at $1,718,265.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Chad Patterson sold 3,012 shares of iRhythm Technologies stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $224,875.92. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 5,072 shares of company stock valued at $372,748. 0.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On iRhythm Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of IRTC. Vanguard Group Inc. boosted its position in shares of iRhythm Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,993,443 shares of the company’s stock worth $320,418,000 after purchasing an additional 35,694 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in iRhythm Technologies by 5.9% in the second quarter. Mackenzie Financial Corp now owns 1,428,324 shares of the company’s stock worth $153,745,000 after acquiring an additional 80,091 shares in the last quarter. Blair William & Co. IL grew its stake in iRhythm Technologies by 3.5% in the first quarter. Blair William & Co. IL now owns 832,934 shares of the company’s stock valued at $96,620,000 after acquiring an additional 27,842 shares during the period. Champlain Investment Partners LLC increased its holdings in shares of iRhythm Technologies by 104.1% during the first quarter. Champlain Investment Partners LLC now owns 575,800 shares of the company’s stock valued at $66,793,000 after acquiring an additional 293,710 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of iRhythm Technologies by 12.3% during the second quarter. Point72 Asset Management L.P. now owns 536,202 shares of the company’s stock worth $57,717,000 after purchasing an additional 58,668 shares during the period.

About iRhythm Technologies

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.