Robert W. Baird Cuts iRhythm Technologies (NASDAQ:IRTC) Price Target to $79.00

iRhythm Technologies (NASDAQ:IRTC) had its price objective trimmed by Robert W. Baird from $100.00 to $79.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Oppenheimer dropped their price objective on iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC reduced their target price on iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a report on Thursday. Citigroup lowered their price target on shares of iRhythm Technologies from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, StockNews.com cut shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, iRhythm Technologies has an average rating of “Moderate Buy” and an average price target of $108.50.

iRhythm Technologies Stock Up 3.6 %

IRTC opened at $75.04 on Friday. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $124.11. The business has a 50 day moving average price of $69.24 and a two-hundred day moving average price of $84.85. The company has a quick ratio of 6.76, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The company has a market cap of $2.35 billion, a PE ratio of -15.44 and a beta of 1.23.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.71). The company had revenue of $147.54 million for the quarter, compared to analyst estimates of $146.69 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. iRhythm Technologies’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.89) earnings per share. As a group, research analysts anticipate that iRhythm Technologies will post -2.66 EPS for the current year.

Insider Buying and Selling

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the transaction, the chief financial officer now owns 24,428 shares of the company’s stock, valued at approximately $1,718,265.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of iRhythm Technologies by 7.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,111 shares of the company’s stock worth $9,360,000 after buying an additional 5,276 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in iRhythm Technologies by 9.2% in the 1st quarter. BNP Paribas Financial Markets now owns 16,176 shares of the company’s stock valued at $1,876,000 after acquiring an additional 1,358 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in iRhythm Technologies in the 1st quarter valued at $1,078,000. Daiwa Securities Group Inc. purchased a new position in shares of iRhythm Technologies during the 1st quarter worth $1,925,000. Finally, SG Americas Securities LLC acquired a new stake in shares of iRhythm Technologies during the first quarter worth $126,000.

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.