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.

IRTC has been the subject of several other research reports. Needham & Company LLC dropped their price objective on iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating for the company in a report on Friday, August 2nd. StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. The Goldman Sachs Group started coverage on iRhythm Technologies in a research note on Friday, October 4th. They issued a “neutral” rating and a $78.00 target price for the company. Oppenheimer lowered their target price on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered their target price on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $113.90.

iRhythm Technologies Price Performance

IRTC opened at $78.12 on Tuesday. The stock’s 50 day simple moving average is $68.28 and its 200 day simple moving average is $86.84. 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 has a 1 year low of $55.92 and a 1 year high of $124.11. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -18.47 and a beta of 1.22.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.28. iRhythm Technologies had a negative return on equity of 84.14% and a negative net margin of 24.50%. The business had revenue of $148.05 million during the quarter, compared to analysts’ expectations of $146.15 million. During the same quarter last year, the business posted ($0.61) EPS. The business’s revenue was up 19.3% on a year-over-year basis. As a group, analysts predict that iRhythm Technologies will post -2.66 earnings per share for the current year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction on Friday, August 9th. The stock was sold at an average price of $70.34, for a total value 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 approximately $1,718,265.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction on Friday, August 9th. The stock was sold at an average price of $70.34, for a total value 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 approximately $1,718,265.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mervin Smith sold 688 shares of iRhythm Technologies stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $51,366.08. Following the completion of the sale, the executive vice president now directly owns 10,360 shares of the company’s stock, valued at approximately $773,477.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,072 shares of company stock worth $372,748. 0.68% of the stock is owned by insiders.

Institutional Trading of iRhythm Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. increased its holdings in shares of iRhythm Technologies by 7.0% in the 1st quarter. Sei Investments Co. now owns 235,361 shares of the company’s stock worth $27,302,000 after purchasing an additional 15,381 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of iRhythm Technologies in the first quarter worth $1,925,000. Capstone Investment Advisors LLC bought a new stake in shares of iRhythm Technologies in the first quarter worth $1,078,000. Assenagon Asset Management S.A. grew its holdings in shares of iRhythm Technologies by 361.1% in the second quarter. Assenagon Asset Management S.A. now owns 48,962 shares of the company’s stock worth $5,270,000 after acquiring an additional 38,344 shares during the period. Finally, Westfield Capital Management Co. LP bought a new stake in shares of iRhythm Technologies in the first quarter worth $58,311,000.

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.