iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $180.00

iRhythm Technologies (NASDAQ:IRTC) had its price target hoisted by The Goldman Sachs Group from $158.00 to $180.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. William Blair raised shares of iRhythm Technologies to a “strong-buy” rating in a research note on Friday, August 1st. Wells Fargo & Company boosted their price target on shares of iRhythm Technologies from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Needham & Company LLC boosted their price target on shares of iRhythm Technologies from $180.00 to $193.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Citigroup boosted their price target on shares of iRhythm Technologies from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Finally, Bank of America started coverage on shares of iRhythm Technologies in a research note on Wednesday, August 20th. They issued a “buy” rating and a $200.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $172.17.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $175.61 on Wednesday. The company’s 50-day moving average is $167.98 and its two-hundred day moving average is $141.72. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of -59.93 and a beta of 1.15. iRhythm Technologies has a 1-year low of $55.92 and a 1-year high of $187.57. The company has a debt-to-equity ratio of 6.25, a current ratio of 5.02 and a quick ratio of 4.88.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.21. The business had revenue of $186.69 million for the quarter, compared to the consensus estimate of $173.94 million. iRhythm Technologies had a negative net margin of 14.06% and a negative return on equity of 90.03%. The business’s revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.61) EPS. iRhythm Technologies has set its FY 2025 guidance at EPS. Analysts forecast that iRhythm Technologies will post -1.98 EPS for the current year.

Insider Activity

In other iRhythm Technologies news, insider Chad Patterson sold 2,555 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $158.97, for a total value of $406,168.35. Following the sale, the insider directly owned 43,667 shares of the company’s stock, valued at approximately $6,941,742.99. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Daniel G. Wilson sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $175.00, for a total transaction of $875,000.00. Following the completion of the sale, the chief financial officer directly owned 34,470 shares in the company, valued at approximately $6,032,250. This represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,069 shares of company stock worth $7,627,986 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On iRhythm Technologies

Large investors have recently modified their holdings of the company. MCF Advisors LLC purchased a new stake in shares of iRhythm Technologies in the 1st quarter valued at approximately $25,000. AlphaQuest LLC purchased a new stake in shares of iRhythm Technologies in the 1st quarter valued at approximately $30,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of iRhythm Technologies in the 2nd quarter valued at approximately $39,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of iRhythm Technologies in the 1st quarter valued at approximately $50,000. Finally, CWM LLC increased its position in shares of iRhythm Technologies by 54.3% in the 1st quarter. CWM LLC now owns 517 shares of the company’s stock valued at $54,000 after purchasing an additional 182 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.