The Goldman Sachs Group Boosts iRhythm Technologies (NASDAQ:IRTC) Price Target to $202.00

iRhythm Technologies (NASDAQ:IRTC) had its price target lifted by stock analysts at The Goldman Sachs Group from $180.00 to $202.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 7.85% from the stock’s current price.

Several other equities analysts also recently weighed in on IRTC. Morgan Stanley lowered their price target on shares of iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Needham & Company LLC lifted their price target on shares of iRhythm Technologies from $193.00 to $244.00 and gave the company a “buy” rating in a report on Friday. Evercore ISI lowered their price target on shares of iRhythm Technologies from $185.00 to $175.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. Bank of America began coverage on shares of iRhythm Technologies in a report on Wednesday, August 20th. They issued a “buy” rating and a $200.00 target price on the stock. Finally, Robert W. Baird boosted their target price on shares of iRhythm Technologies from $180.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. One equities research 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 given a Sell rating to the stock. According to data from MarketBeat.com, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.57.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC opened at $187.30 on Friday. The company has a debt-to-equity ratio of 6.25, a current ratio of 5.02 and a quick ratio of 4.88. iRhythm Technologies has a 1-year low of $67.92 and a 1-year high of $212.00. The company has a market capitalization of $6.02 billion, a P/E ratio of -116.33 and a beta of 1.15. The firm’s 50 day simple moving average is $177.02 and its two-hundred day simple moving average is $152.99.

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

Insider Buying and Selling

In related news, CFO Daniel G. Wilson sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $175.00, for a total value of $875,000.00. Following the sale, the chief financial officer owned 34,470 shares in the company, valued at approximately $6,032,250. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 5,312 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $158.02, for a total transaction of $839,402.24. Following the completion of the sale, the director owned 20,299 shares in the company, valued at $3,207,647.98. This represents a 20.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 47,069 shares of company stock valued at $7,627,986 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IRTC. Teacher Retirement System of Texas bought a new position in iRhythm Technologies during the first quarter valued at $479,000. Principal Financial Group Inc. grew its holdings in iRhythm Technologies by 1,793.7% during the 1st quarter. Principal Financial Group Inc. now owns 50,449 shares of the company’s stock valued at $5,281,000 after purchasing an additional 47,785 shares during the last quarter. Silver Oak Securities Incorporated bought a new position in iRhythm Technologies during the 1st quarter valued at about $301,000. Envestnet Asset Management Inc. grew its holdings in iRhythm Technologies by 118.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 35,816 shares of the company’s stock valued at $3,749,000 after purchasing an additional 19,447 shares during the last quarter. Finally, Values First Advisors Inc. grew its holdings in iRhythm Technologies by 11.0% during the 1st quarter. Values First Advisors Inc. now owns 6,203 shares of the company’s stock valued at $650,000 after purchasing an additional 615 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.