iRhythm Technologies (NASDAQ:IRTC) PT Raised to $185.00

iRhythm Technologies (NASDAQ:IRTC) had its price objective hoisted by stock analysts at Truist Securities from $130.00 to $185.00 in a report released on Thursday, Stock Target Advisor reports. Truist Securities’ price target would indicate a potential upside of 31.11% from the stock’s current price. Truist Securities also issued estimates for iRhythm Technologies’ Q3 2023 earnings at ($0.82) EPS and Q4 2023 earnings at ($0.88) EPS.

Other analysts have also issued reports about the stock. started coverage on shares of iRhythm Technologies in a research report on Tuesday, December 21st. They set a “buy” rating on the stock. BTIG Research raised shares of iRhythm Technologies from a “neutral” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Wednesday. Citigroup raised shares of iRhythm Technologies from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Wednesday, December 15th. Robert W. Baird upped their price target on shares of iRhythm Technologies from $110.00 to $137.00 in a research report on Wednesday. Finally, Oppenheimer raised shares of iRhythm Technologies from a “market perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $155.92.

Shares of IRTC stock opened at $141.10 on Thursday. The company’s fifty day simple moving average is $107.87 and its 200-day simple moving average is $75.66. The company has a quick ratio of 3.81, a current ratio of 3.93 and a debt-to-equity ratio of 0.04. The firm has a market cap of $4.15 billion, a PE ratio of -53.40 and a beta of 1.21. iRhythm Technologies has a 12 month low of $41.66 and a 12 month high of $286.19.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, November 4th. The company reported ($0.81) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.09) by $0.28. The business had revenue of $85.43 million for the quarter, compared to analyst estimates of $83.65 million. iRhythm Technologies had a negative net margin of 24.55% and a negative return on equity of 25.06%. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. On average, equities analysts predict that iRhythm Technologies will post -3.58 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its stake in shares of iRhythm Technologies by 1.7% in the third quarter. Arizona State Retirement System now owns 7,982 shares of the company’s stock valued at $467,000 after acquiring an additional 134 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of iRhythm Technologies by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 554 shares of the company’s stock valued at $44,000 after acquiring an additional 170 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of iRhythm Technologies by 3.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 7,888 shares of the company’s stock valued at $523,000 after acquiring an additional 230 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of iRhythm Technologies by 190.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 435 shares of the company’s stock valued at $29,000 after acquiring an additional 285 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of iRhythm Technologies by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 16,587 shares of the company’s stock valued at $1,101,000 after acquiring an additional 405 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It offers Zio XT, is a wearable patch-based biosensor, continuously records, and stores ECG data from every patient heartbeat for up to 14 consecutive days; and Zio AT, also provides ECG data but also provides physicians with actionable notifications during the wear period.

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