iRhythm Technologies (NASDAQ:IRTC) Stock Price Expected to Rise, Citigroup Analyst Says

iRhythm Technologies (NASDAQ:IRTC) had its target price hoisted by stock analysts at Citigroup from $205.00 to $242.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 29.20% from the stock’s previous close.

IRTC has been the subject of a number of other reports. Wells Fargo & Company increased their price objective on shares of iRhythm Technologies from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Robert W. Baird upped their price objective on iRhythm Technologies from $180.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Truist Financial increased their target price on shares of iRhythm Technologies from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Needham & Company LLC raised their price target on iRhythm Technologies from $193.00 to $244.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Bank of America began coverage on shares of iRhythm Technologies in a research report on Wednesday, August 20th. They issued a “buy” rating and a $200.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.57.

iRhythm Technologies Trading Up 1.7%

NASDAQ:IRTC opened at $187.30 on Friday. The company has a fifty day moving average of $177.02 and a 200 day moving average of $152.99. The firm has a market capitalization of $6.02 billion, a P/E ratio of -116.33 and a beta of 1.15. The company has a quick ratio of 4.88, a current ratio of 5.02 and a debt-to-equity ratio of 6.25. iRhythm Technologies has a 52 week low of $67.92 and a 52 week high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.30. The company had revenue of $192.88 million for the quarter, compared to analysts’ expectations of $184.75 million. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 45.00%. The firm’s revenue was up 30.8% compared to the same quarter last year. During the same quarter last year, the business earned ($1.26) EPS. iRhythm Technologies has set its FY 2025 guidance at EPS. On average, research analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insider Activity at iRhythm Technologies

In other news, CFO Daniel G. Wilson sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $175.00, for a total value of $875,000.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Marc Wade Rosenbaum sold 226 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $158.93, for a total value of $35,918.18. Following the completion of the sale, the chief accounting officer owned 10,879 shares in the company, valued at approximately $1,728,999.47. This represents a 2.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 47,069 shares of company stock worth $7,627,986 in the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. MCF Advisors LLC purchased a new stake in shares of iRhythm Technologies during the 1st quarter worth about $25,000. AlphaQuest LLC purchased a new stake in shares of iRhythm Technologies in the first quarter valued at approximately $30,000. Root Financial Partners LLC acquired a new position in shares of iRhythm Technologies during the 3rd quarter worth approximately $30,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of iRhythm Technologies during the 2nd quarter valued at approximately $39,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in iRhythm Technologies in the 1st quarter valued at $50,000.

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.