Robert W. Baird Trims iRhythm Technologies (NASDAQ:IRTC) Target Price to $110.00

iRhythm Technologies (NASDAQ:IRTC) had its target price decreased by Robert W. Baird from $120.00 to $110.00 in a report published on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

IRTC has been the topic of several other research reports. Wolfe Research upgraded iRhythm Technologies from a peer perform rating to an outperform rating and set a $115.00 target price on the stock in a research note on Thursday, June 20th. Canaccord Genuity Group cut their target price on iRhythm Technologies from $133.00 to $122.00 and set a buy rating on the stock in a research note on Friday, May 3rd. Truist Financial restated a buy rating and set a $117.00 price target (down previously from $134.00) on shares of iRhythm Technologies in a research note on Friday. Morgan Stanley dropped their price target on iRhythm Technologies from $135.00 to $130.00 and set an overweight rating on the stock in a research note on Monday, July 15th. Finally, Needham & Company LLC dropped their price target on iRhythm Technologies from $138.00 to $119.00 and set a buy rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, iRhythm Technologies has a consensus rating of Moderate Buy and an average price target of $118.67.

iRhythm Technologies Stock Down 4.0 %

Shares of iRhythm Technologies stock traded down $2.99 during trading on Friday, hitting $70.89. 515,894 shares of the stock traded hands, compared to its average volume of 419,343. The firm has a market cap of $2.20 billion, a P/E ratio of -16.75 and a beta of 1.25. The company has a current ratio of 7.10, a quick ratio of 6.95 and a debt-to-equity ratio of 7.13. iRhythm Technologies has a 52-week low of $65.54 and a 52-week high of $124.11. The stock’s fifty day simple moving average is $95.22 and its 200 day simple moving average is $104.98.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.28. iRhythm Technologies had a negative return on equity of 75.14% and a negative net margin of 24.50%. The company had revenue of $148.05 million for the quarter, compared to analyst estimates of $146.15 million. During the same quarter in the previous year, the firm earned ($0.61) earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities analysts predict that iRhythm Technologies will post -3.22 earnings per share for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, CAO Marc W. Rosenbaum sold 510 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $88.91, for a total value of $45,344.10. Following the completion of the transaction, the chief accounting officer now directly owns 8,174 shares of the company’s stock, valued at $726,750.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Marc W. Rosenbaum sold 510 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $88.91, for a total transaction of $45,344.10. Following the completion of the transaction, the chief accounting officer now directly owns 8,174 shares of the company’s stock, valued at approximately $726,750.34. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Minang Turakhia sold 1,404 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $105.65, for a total value of $148,332.60. Following the transaction, the chief marketing officer now directly owns 27,255 shares of the company’s stock, valued at $2,879,490.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,045 shares of company stock valued at $294,234. 0.68% of the stock is owned by company insiders.

Institutional Trading of iRhythm Technologies

Several large investors have recently made changes to their positions in the company. Fiera Capital Corp increased its position in shares of iRhythm Technologies by 1.1% during the second quarter. Fiera Capital Corp now owns 393,197 shares of the company’s stock worth $42,324,000 after purchasing an additional 4,284 shares in the last quarter. Rhumbline Advisers grew its holdings in iRhythm Technologies by 5.1% in the 2nd quarter. Rhumbline Advisers now owns 45,681 shares of the company’s stock valued at $4,917,000 after buying an additional 2,209 shares in the last quarter. Peregrine Capital Management LLC grew its holdings in iRhythm Technologies by 18.5% in the 2nd quarter. Peregrine Capital Management LLC now owns 81,552 shares of the company’s stock valued at $8,778,000 after buying an additional 12,706 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in iRhythm Technologies by 18.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,130 shares of the company’s stock valued at $767,000 after buying an additional 1,097 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of iRhythm Technologies by 14.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 475,586 shares of the company’s stock valued at $51,192,000 after purchasing an additional 60,560 shares during 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.