iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $194.00

iRhythm Technologies (NASDAQ:IRTC) had its price target boosted by Needham & Company LLC from $192.00 to $194.00 in a report released on Monday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on IRTC. Truist Financial increased their price objective on shares of iRhythm Technologies from $160.00 to $168.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iRhythm Technologies in a report on Monday, September 14th. Stephens started coverage on shares of iRhythm Technologies in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $160.00 price target on the stock. Wall Street Zen upgraded shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, Wells Fargo & Company reduced their price objective on iRhythm Technologies from $180.00 to $168.00 and set an “overweight” rating for the company in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $178.79.

iRhythm Technologies Trading Down 2.1%

NASDAQ:IRTC opened at $104.99 on Monday. The company has a market cap of $3.46 billion, a PE ratio of -244.16 and a beta of 1.45. iRhythm Technologies has a 12 month low of $100.85 and a 12 month high of $212.00. The company has a current ratio of 3.86, a quick ratio of 3.74 and a debt-to-equity ratio of 3.50. The company has a 50 day simple moving average of $118.07 and a two-hundred day simple moving average of $116.98.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.62. iRhythm Technologies had a positive return on equity of 10.11% and a negative net margin of 1.69%.The company had revenue of $224.17 million during the quarter, compared to analysts’ expectations of $219.30 million. During the same quarter in the prior year, the business earned ($0.32) earnings per share. iRhythm Technologies’s revenue for the quarter was up 20.1% compared to the same quarter last year. Research analysts forecast that iRhythm Technologies will post 0.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc increased its stake in iRhythm Technologies by 123.2% during the third quarter. Versant Capital Management Inc now owns 221 shares of the company’s stock worth $25,000 after acquiring an additional 122 shares during the last quarter. Cim Investment Management Inc. increased its stake in iRhythm Technologies by 7.4% in the 2nd quarter. Cim Investment Management Inc. now owns 4,824 shares of the company’s stock worth $574,000 after buying an additional 333 shares during the period. Squarepoint Ops LLC raised its stake in shares of iRhythm Technologies by 1,065.8% during the second quarter. Squarepoint Ops LLC now owns 71,862 shares of the company’s stock valued at $8,548,000 after acquiring an additional 65,698 shares in the last quarter. Nykredit A S bought a new position in iRhythm Technologies during the 2nd quarter worth about $236,000. Finally, Amundi increased its holdings in shares of iRhythm Technologies by 14.0% in the 2nd quarter. Amundi now owns 56,534 shares of the company’s stock valued at $6,725,000 after acquiring an additional 6,959 shares during the period.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc is a digital health care company focused on ambulatory cardiac monitoring and the diagnosis of cardiac arrhythmias. The company combines wearable biosensor technology, cloud-based data analysis and clinical services to help physicians detect and manage irregular heart rhythms, including atrial fibrillation.

Its principal products include the Zio monitor portfolio, which is designed for extended, continuous electrocardiogram monitoring in an easy-to-use wearable format.