The Goldman Sachs Group Boosts iRhythm Technologies (NASDAQ:IRTC) Price Target to $124.00

iRhythm Technologies (NASDAQ:IRTC) had its target price raised by equities researchers at The Goldman Sachs Group from $91.00 to $124.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 4.44% from the stock’s current price.

Several other research firms have also weighed in on IRTC. Canaccord Genuity Group boosted their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a report on Monday, December 9th. Robert W. Baird cut their target price on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Needham & Company LLC upped their price target on iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company raised their price objective on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Oppenheimer upped their target price 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. One research 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’s stock. According to MarketBeat, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $119.73.

iRhythm Technologies Price Performance

Shares of IRTC stock traded down $0.72 during trading hours on Monday, reaching $118.73. The company had a trading volume of 119,374 shares, compared to its average volume of 437,721. iRhythm Technologies has a 12-month low of $55.92 and a 12-month high of $128.52. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -32.43 and a beta of 1.29. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The stock has a fifty day moving average of $101.77 and a 200-day moving average of $83.79.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.29) by $0.30. The business 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%. On average, equities analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insider Buying and Selling

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the business’s stock in a transaction 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 transaction, the insider now owns 35,327 shares in the company, valued at $3,034,236.03. The trade was a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in iRhythm Technologies by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 3,136,370 shares of the company’s stock valued at $282,806,000 after purchasing an additional 18,442 shares in the last quarter. State Street Corp raised its holdings in iRhythm Technologies by 1.3% in the third quarter. State Street Corp now owns 908,843 shares of the company’s stock valued at $67,473,000 after acquiring an additional 11,992 shares in the last quarter. Braidwell LP lifted its stake in iRhythm Technologies by 48.7% in the third quarter. Braidwell LP now owns 782,557 shares of the company’s stock worth $58,097,000 after acquiring an additional 256,200 shares during the last quarter. Eventide Asset Management LLC lifted its stake in iRhythm Technologies by 170.8% in the third quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock worth $54,694,000 after acquiring an additional 464,629 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in iRhythm Technologies by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 733,308 shares of the company’s stock worth $54,451,000 after acquiring an additional 5,423 shares in 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.