iRhythm Technologies (NASDAQ:IRTC – Free Report) had its price target decreased by Truist Financial from $174.00 to $160.00 in a research report released on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.
IRTC has been the subject of a number of other research reports. Weiss Ratings upgraded iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. Wall Street Zen lowered iRhythm Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Canaccord Genuity Group lowered their price objective on iRhythm Technologies from $180.00 to $152.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. JPMorgan Chase & Co. dropped their target price on iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Finally, HC Wainwright reaffirmed a “buy” rating on shares of iRhythm Technologies in a research report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.62.
iRhythm Technologies Stock Down 3.9%
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.21. iRhythm Technologies had a negative return on equity of 10.26% and a negative net margin of 3.53%.The business had revenue of $199.39 million during the quarter, compared to the consensus estimate of $194.11 million. During the same quarter last year, the firm posted ($0.97) EPS. The company’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, research analysts anticipate that iRhythm Technologies will post 0.13 EPS for the current year.
Insider Buying and Selling at iRhythm Technologies
In related news, Director Abhijit Y. Talwalkar acquired 5,312 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $10.71 per share, for a total transaction of $56,891.52. Following the transaction, the director directly owned 25,611 shares in the company, valued at $274,293.81. This trade represents a 26.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.98% of the company’s stock.
Institutional Trading of iRhythm Technologies
Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after buying an additional 60 shares during the period. Ascent Group LLC lifted its stake in shares of iRhythm Technologies by 0.7% in the fourth quarter. Ascent Group LLC now owns 9,587 shares of the company’s stock worth $1,701,000 after acquiring an additional 70 shares during the period. WoodTrust Financial Corp boosted its holdings in iRhythm Technologies by 0.7% in the fourth quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock valued at $1,787,000 after acquiring an additional 70 shares during the last quarter. US Bancorp DE boosted its holdings in iRhythm Technologies by 7.8% in the third quarter. US Bancorp DE now owns 1,042 shares of the company’s stock valued at $179,000 after acquiring an additional 75 shares during the last quarter. Finally, State of Wyoming increased its position in iRhythm Technologies by 16.0% during the 4th quarter. State of Wyoming now owns 616 shares of the company’s stock valued at $109,000 after purchasing an additional 85 shares during the period.
About iRhythm Technologies
iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.
The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.
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