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

iRhythm Technologies (NASDAQ:IRTC) had its price target boosted by Wells Fargo & Company from $86.00 to $104.00 in a research report report published on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts have also recently issued reports about the company. Truist Financial boosted their target price on iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Oppenheimer increased their target price on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Needham & Company LLC raised their target price on shares of iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Friday. Canaccord Genuity Group upped their price target 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. Finally, Robert W. Baird dropped their price objective on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.55.

iRhythm Technologies Stock Performance

Shares of NASDAQ:IRTC opened at $119.58 on Friday. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -24.61 and a beta of 1.29. The firm’s 50 day simple moving average is $101.11 and its 200 day simple moving average is $83.27. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. iRhythm Technologies has a fifty-two week low of $55.92 and a fifty-two week high of $128.52.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results 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. iRhythm Technologies had a negative net margin of 26.90% and a negative return on equity of 120.86%. The company had revenue of $164.33 million for the quarter, compared to analyst estimates of $158.30 million. As a group, sell-side analysts forecast that iRhythm Technologies will post -3.35 earnings per share for the current year.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the company’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 transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is owned by company insiders.

Institutional Trading of iRhythm Technologies

A number of hedge funds have recently modified their holdings of the stock. R Squared Ltd bought a new position in iRhythm Technologies in the 4th quarter valued at about $45,000. Van ECK Associates Corp increased its stake in shares of iRhythm Technologies by 41.3% during the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after purchasing an additional 162 shares during the period. Quarry LP acquired a new stake in iRhythm Technologies during the 3rd quarter worth approximately $59,000. Raiffeisen Bank International AG acquired a new stake in iRhythm Technologies during the 4th quarter worth approximately $60,000. Finally, Nisa Investment Advisors LLC boosted its stake in iRhythm Technologies by 166.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock valued at $94,000 after purchasing an additional 648 shares during the period.

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.