iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $138.00 at Needham & Company LLC

iRhythm Technologies (NASDAQ:IRTC) had its price target upped by Needham & Company LLC from $125.00 to $138.00 in a research report released on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. Oppenheimer raised their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Robert W. Baird lowered their price target on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Truist Financial lifted their price target on iRhythm Technologies from $85.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group increased their price objective on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $86.00 target price on shares of iRhythm Technologies in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, iRhythm Technologies currently has an average rating of “Moderate Buy” and an average price target of $115.55.

iRhythm Technologies Stock Performance

NASDAQ:IRTC 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 company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The business’s 50-day moving average price is $101.77 and its two-hundred day moving average price is $83.79. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $128.52.

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

Insider Activity at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 2,492 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the sale, the insider now owns 35,327 shares of the company’s stock, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.68% of the stock is currently owned by company insiders.

Institutional Trading of iRhythm Technologies

Several large investors have recently bought and sold shares of the company. Eventide Asset Management LLC boosted its position in shares of iRhythm Technologies by 170.8% in the 3rd quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock worth $54,694,000 after purchasing an additional 464,629 shares in the last quarter. First Light Asset Management LLC purchased a new stake in shares of iRhythm Technologies during the 4th quarter valued at about $38,818,000. Bessemer Group Inc. boosted its holdings in iRhythm Technologies by 111.7% in the fourth quarter. Bessemer Group Inc. now owns 568,007 shares of the company’s stock worth $51,217,000 after purchasing an additional 299,726 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of iRhythm Technologies by 364.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 355,147 shares of the company’s stock worth $32,024,000 after acquiring an additional 278,743 shares during the period. Finally, Braidwell LP grew its stake in shares of iRhythm Technologies by 48.7% during the 3rd quarter. Braidwell LP now owns 782,557 shares of the company’s stock valued at $58,097,000 after purchasing an additional 256,200 shares during the period.

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.