iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $195.00 at BTIG Research

Key Points

• BTIG Research has raised the price target for iRhythm Technologies from $190.00 to $195.00, indicating a potential upside of 10.67% from the current stock price.
• iRhythm Technologies has a mix of analyst ratings, with one Strong Buy, eleven Buy, two Hold, and one Sell, leading to an average target price of $180.23.
• Recent insider selling includes Director Abhijit Y. Talwalkar and CFO Daniel G. Wilson, with total shares valued at approximately $8 million sold in the last ninety days.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) had its price objective increased by equities research analysts at BTIG Research from $190.00 to $195.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price target suggests a potential upside of 10.67% from the stock's current price.

Other equities analysts also recently issued reports about the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of iRhythm Technologies in a research report on Wednesday, October 8th. Evercore ISI dropped their price objective on shares of iRhythm Technologies from $185.00 to $175.00 and set an "in-line" rating for the company in a research note on Tuesday, October 7th. Morgan Stanley decreased their target price on shares of iRhythm Technologies from $160.00 to $147.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. JPMorgan Chase & Co. upped their price target on shares of iRhythm Technologies from $145.00 to $190.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Bank of America initiated coverage on shares of iRhythm Technologies in a research note on Wednesday, August 20th. They set a "buy" rating and a $200.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $180.23.

iRhythm Technologies Stock Down 0.2%

Shares of NASDAQ IRTC opened at $176.20 on Monday. The firm has a market cap of $5.66 billion, a P/E ratio of -60.14 and a beta of 1.15. The company has a debt-to-equity ratio of 6.25, a quick ratio of 4.88 and a current ratio of 5.02. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $187.57. The firm's 50 day moving average price is $171.30 and its 200 day moving average price is $144.75.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.21. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%.The company had revenue of $186.69 million during the quarter, compared to the consensus estimate of $173.94 million. During the same period in the previous year, the firm posted ($0.61) EPS. iRhythm Technologies's revenue was up 26.1% on a year-over-year basis. iRhythm Technologies has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Abhijit Y. Talwalkar sold 5,312 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $158.02, for a total transaction of $839,402.24. Following the sale, the director directly owned 20,299 shares in the company, valued at approximately $3,207,647.98. This trade represents a 20.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Daniel G. Wilson sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $175.00, for a total value of $875,000.00. Following the transaction, the chief financial officer directly owned 34,470 shares in the company, valued at $6,032,250. This trade represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,069 shares of company stock valued at $7,627,986 over the last ninety days. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. MCF Advisors LLC purchased a new position in shares of iRhythm Technologies in the first quarter valued at $25,000. AlphaQuest LLC acquired a new position in iRhythm Technologies in the 1st quarter worth $30,000. ANTIPODES PARTNERS Ltd acquired a new position in iRhythm Technologies in the 2nd quarter worth $39,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in iRhythm Technologies in the 1st quarter valued at about $50,000. Finally, CWM LLC boosted its position in iRhythm Technologies by 54.3% in the 1st quarter. CWM LLC now owns 517 shares of the company's stock valued at $54,000 after buying an additional 182 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.