iRhythm Technologies (NASDAQ:IRTC) PT Lowered to $122.00

iRhythm Technologies (NASDAQ:IRTC) had its price target decreased by Canaccord Genuity Group from $133.00 to $122.00 in a research note issued to investors on Friday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on IRTC. Needham & Company LLC lifted their price objective on iRhythm Technologies from $137.00 to $138.00 and gave the company a buy rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on iRhythm Technologies from $142.00 to $133.00 and set an overweight rating for the company in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, iRhythm Technologies presently has an average rating of Moderate Buy and an average price target of $134.00.

iRhythm Technologies Trading Up 4.0 %

Shares of NASDAQ IRTC opened at $106.83 on Friday. iRhythm Technologies has a twelve month low of $70.24 and a twelve month high of $132.92. The company has a current ratio of 7.10, a quick ratio of 6.95 and a debt-to-equity ratio of 7.13. The stock has a fifty day simple moving average of $110.99 and a 200-day simple moving average of $103.51. The stock has a market capitalization of $3.32 billion, a PE ratio of -25.26 and a beta of 1.31.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.66). iRhythm Technologies had a negative net margin of 25.33% and a negative return on equity of 69.87%. The firm had revenue of $132.51 million during the quarter, compared to analyst estimates of $131.14 million. On average, equities analysts forecast that iRhythm Technologies will post -3.14 earnings per share for the current year.

Insiders Place Their Bets

In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,261 shares of iRhythm Technologies stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $153,791.56. Following the completion of the sale, the executive vice president now directly owns 32,967 shares of the company’s stock, valued at approximately $4,020,655.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other iRhythm Technologies news, CEO Quentin S. Blackford sold 24,701 shares of iRhythm Technologies stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel G. Wilson sold 1,261 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 $153,791.56. Following the completion of the sale, the executive vice president now directly owns 32,967 shares of the company’s stock, valued at $4,020,655.32. The disclosure for this sale can be found here. Insiders sold 35,052 shares of company stock valued at $4,274,942 in the last ninety days. Insiders own 0.68% of the company’s stock.

Institutional Trading of iRhythm Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd lifted its holdings in shares of iRhythm Technologies by 285.2% in the 3rd quarter. Covestor Ltd now owns 312 shares of the company’s stock valued at $29,000 after purchasing an additional 231 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of iRhythm Technologies by 110.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 574 shares of the company’s stock valued at $54,000 after purchasing an additional 301 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of iRhythm Technologies in the 4th quarter valued at about $92,000. Quent Capital LLC acquired a new position in iRhythm Technologies in the 4th quarter valued at about $161,000. Finally, SeaCrest Wealth Management LLC acquired a new position in iRhythm Technologies in the 4th quarter valued at about $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.