iRhythm Technologies (NASDAQ:IRTC) PT Raised to $138.00

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

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

iRhythm Technologies Price Performance

iRhythm Technologies stock traded down $8.20 during mid-day trading on Friday, reaching $102.68. 884,209 shares of the company were exchanged, compared to its average volume of 429,999. iRhythm Technologies has a 12 month low of $70.24 and a 12 month high of $134.45. The company has a fifty day simple moving average of $111.02 and a 200-day simple moving average of $102.94. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.15 and a quick ratio of 2.02. The firm has a market cap of $3.20 billion, a PE ratio of -25.35 and a beta of 1.31.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.66). iRhythm Technologies had a negative net margin of 25.05% and a negative return on equity of 56.38%. The business had revenue of $132.51 million during the quarter, compared to the consensus estimate of $131.14 million. As a group, equities research analysts expect that iRhythm Technologies will post -3.14 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Quentin S. Blackford sold 24,701 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $3,012,533.96. Following the transaction, the chief executive officer now directly owns 180,015 shares of the company's stock, valued at approximately $21,954,629.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Quentin S. Blackford sold 24,701 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $3,012,533.96. Following the completion of the sale, the chief executive officer now directly owns 180,015 shares of the company's stock, valued at approximately $21,954,629.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick Michael Murphy sold 7,615 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $928,725.40. Following the completion of the sale, the insider now directly owns 48,962 shares of the company's stock, valued at $5,971,405.52. The disclosure for this sale can be found here. Insiders have sold 35,052 shares of company stock valued at $4,274,942 in the last ninety days. 0.68% of the stock is owned by company insiders.

Institutional Trading of iRhythm Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd grew its holdings in shares of iRhythm Technologies by 285.2% in the third quarter. Covestor Ltd now owns 312 shares of the company's stock valued at $29,000 after acquiring an additional 231 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of iRhythm Technologies by 110.3% in the third quarter. Nisa Investment Advisors LLC now owns 574 shares of the company's stock valued at $54,000 after acquiring an additional 301 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of iRhythm Technologies in the fourth quarter valued at approximately $92,000. Quent Capital LLC purchased a new position in iRhythm Technologies in the fourth quarter valued at approximately $161,000. Finally, SeaCrest Wealth Management LLC purchased a new position in iRhythm Technologies in the fourth quarter valued at approximately $205,000.

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.