iRhythm Technologies (NASDAQ:IRTC) Price Target Cut to $139.00 by Analysts at Canaccord Genuity Group

iRhythm Technologies (NASDAQ:IRTC) had its target price trimmed by Canaccord Genuity Group from $152.00 to $139.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

IRTC has been the subject of several other reports. Truist Financial lifted their target price on iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Robert W. Baird lifted their target price on shares of iRhythm Technologies from $133.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday. The Goldman Sachs Group increased their price target on shares of iRhythm Technologies from $91.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, February 24th. StockNews.com raised iRhythm Technologies from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Finally, Wells Fargo & Company upgraded iRhythm Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $104.00 to $130.00 in a research note on Friday. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, iRhythm Technologies has an average rating of “Moderate Buy” and an average price target of $128.55.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $131.12 on Friday. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. iRhythm Technologies has a 12 month low of $55.92 and a 12 month high of $133.20. The firm has a fifty day simple moving average of $104.12 and a 200 day simple moving average of $96.43. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of -36.02 and a beta of 1.45.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, May 1st. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.06). The company had revenue of $158.68 million for the quarter, compared to the consensus estimate of $153.39 million. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The business’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.23) EPS. Research analysts forecast that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Institutional Trading of iRhythm Technologies

Several large investors have recently bought and sold shares of the business. R Squared Ltd acquired a new position in iRhythm Technologies during the 4th quarter worth approximately $45,000. Van ECK Associates Corp lifted its stake in shares of iRhythm Technologies by 41.3% in the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after acquiring an additional 162 shares during the last quarter. CWM LLC lifted its stake 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 acquiring an additional 182 shares during the last quarter. Raiffeisen Bank International AG bought a new stake in iRhythm Technologies during the 4th quarter worth $60,000. Finally, Nisa Investment Advisors LLC increased its holdings in iRhythm Technologies by 166.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock worth $94,000 after purchasing an additional 648 shares in 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.