Truist Financial Boosts iRhythm Technologies (NASDAQ:IRTC) Price Target to $145.00

iRhythm Technologies (NASDAQ:IRTC) had its price objective boosted by Truist Financial from $111.00 to $145.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the company. Oppenheimer boosted their target price on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Robert W. Baird decreased their price objective on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Canaccord Genuity Group boosted their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Wells Fargo & Company boosted their price objective on iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Needham & Company LLC boosted their price objective on iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.55.

iRhythm Technologies Stock Up 6.1 %

IRTC stock opened at $119.58 on Friday. The stock has a market cap of $3.74 billion, a P/E ratio of -32.85 and a beta of 1.29. The stock’s fifty day simple moving average is $101.77 and its two-hundred day simple moving average is $83.79. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. iRhythm Technologies has a 1-year low of $55.92 and a 1-year high of $128.52.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.30. The firm had revenue of $164.33 million for the quarter, compared to analyst estimates of $158.30 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. Analysts expect that iRhythm Technologies will post -1.98 EPS for the current year.

Insiders Place Their Bets

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the transaction, the insider now directly owns 35,327 shares in the company, valued at $3,034,236.03. This represents a 6.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On iRhythm Technologies

Institutional investors have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of iRhythm Technologies by 27.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,512 shares of the company’s stock worth $261,000 after purchasing an additional 754 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of iRhythm Technologies in the 3rd quarter worth about $380,000. SteelPeak Wealth LLC purchased a new position in shares of iRhythm Technologies in the 3rd quarter worth about $592,000. Harbor Capital Advisors Inc. boosted its holdings in shares of iRhythm Technologies by 272.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock worth $5,935,000 after purchasing an additional 58,448 shares in the last quarter. Finally, WoodTrust Financial Corp boosted its holdings in shares of iRhythm Technologies by 28.4% in the 3rd quarter. WoodTrust Financial Corp now owns 11,307 shares of the company’s stock worth $839,000 after purchasing an additional 2,500 shares in 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.