iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $104.00 at Wells Fargo & Company

iRhythm Technologies (NASDAQ:IRTC) had its price objective lifted by Wells Fargo & Company from $86.00 to $104.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities analysts also recently commented on IRTC. Canaccord Genuity Group raised their price objective on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Needham & Company LLC raised their price target on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday. Truist Financial lifted their price objective on iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Robert W. Baird dropped their target price on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Oppenheimer raised their target price on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.55.

iRhythm Technologies Stock Up 6.1 %

IRTC stock opened at $119.58 on Friday. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $128.52. 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 company has a market cap of $3.74 billion, a PE ratio of -24.61 and a beta of 1.29. The business’s 50-day simple moving average is $101.11 and its 200 day simple moving average is $83.27.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.30. The company 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 120.86% and a negative net margin of 26.90%. On average, research analysts anticipate that iRhythm Technologies will post -3.35 earnings per share for the current 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 that occurred on Monday, December 2nd. The shares were 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 document filed with the SEC, which is available at the SEC website. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On iRhythm Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in IRTC. Hennion & Walsh Asset Management Inc. increased its position in iRhythm Technologies by 27.3% in the third 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 during the period. Values First Advisors Inc. acquired a new stake in shares of iRhythm Technologies during the 3rd quarter worth approximately $380,000. SteelPeak Wealth LLC bought a new stake in shares of iRhythm Technologies during the third quarter worth approximately $592,000. Harbor Capital Advisors Inc. lifted its holdings in iRhythm Technologies by 272.0% in the third quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock valued at $5,935,000 after buying an additional 58,448 shares during the period. Finally, WoodTrust Financial Corp boosted its stake in iRhythm Technologies by 28.4% in the third quarter. WoodTrust Financial Corp now owns 11,307 shares of the company’s stock valued at $839,000 after acquiring an additional 2,500 shares during the last quarter.

iRhythm Technologies Company Profile

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.