iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $124.00 at The Goldman Sachs Group

iRhythm Technologies (NASDAQ:IRTC) had its price target boosted by investment analysts at The Goldman Sachs Group from $91.00 to $124.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 4.44% from the company’s previous close.

Several other analysts have also recently commented on the stock. Canaccord Genuity Group lifted their price objective on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Oppenheimer increased their price target on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Wells Fargo & Company boosted their price objective on iRhythm Technologies from $86.00 to $104.00 and gave the company an “equal weight” rating in a report on Friday. Needham & Company LLC upped their target price on iRhythm Technologies from $125.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Robert W. Baird reduced their price target on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, iRhythm Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $119.73.

iRhythm Technologies Stock Performance

Shares of NASDAQ IRTC traded down $0.72 during mid-day trading on Monday, hitting $118.73. The stock had a trading volume of 119,374 shares, compared to its average volume of 437,721. The firm has a market cap of $3.73 billion, a PE ratio of -32.43 and a beta of 1.29. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. The company has a 50 day moving average of $101.77 and a two-hundred day moving average of $83.79. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $128.52.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.30. iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The business had revenue of $164.33 million for the quarter, compared to analyst estimates of $158.30 million. Research analysts predict that iRhythm Technologies will post -1.98 EPS for the current fiscal 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 transaction of $214,037.88. Following the completion of the transaction, the insider now directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IRTC. Ascent Group LLC boosted its holdings in iRhythm Technologies by 13.0% in the 4th quarter. Ascent Group LLC now owns 8,110 shares of the company’s stock worth $731,000 after buying an additional 935 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of iRhythm Technologies in the fourth quarter worth approximately $60,000. ProShare Advisors LLC increased its position in shares of iRhythm Technologies by 52.1% during the fourth quarter. ProShare Advisors LLC now owns 8,988 shares of the company’s stock worth $810,000 after purchasing an additional 3,079 shares in the last quarter. Nomura Holdings Inc. acquired a new position in iRhythm Technologies in the 4th quarter valued at $488,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in iRhythm Technologies by 5.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,349 shares of the company’s stock valued at $3,097,000 after purchasing an additional 1,743 shares in 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.