Canaccord Genuity Group Cuts iRhythm Technologies (NASDAQ:IRTC) Price Target to $139.00

iRhythm Technologies (NASDAQ:IRTC) had its target price decreased by Canaccord Genuity Group from $152.00 to $139.00 in a research report report published on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

IRTC has been the topic of several other research reports. Robert W. Baird increased their price target on iRhythm Technologies from $133.00 to $150.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial raised their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Needham & Company LLC upped their price target on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a “buy” rating in a report on Friday. The Goldman Sachs Group raised their price objective on shares of iRhythm Technologies from $91.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Finally, Oppenheimer upped their target price on iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.55.

iRhythm Technologies Price Performance

IRTC stock opened at $131.12 on Friday. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $133.20. The firm has a market capitalization of $4.19 billion, a P/E ratio of -36.02 and a beta of 1.34. The company has a fifty day simple moving average of $104.12 and a two-hundred day simple moving average of $96.91. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of iRhythm Technologies in the 4th quarter worth $45,000. Van ECK Associates Corp grew its holdings in iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after acquiring an additional 162 shares in the last quarter. CWM LLC increased its position in iRhythm Technologies by 54.3% during 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 period. Raiffeisen Bank International AG bought a new stake in shares of iRhythm Technologies in the 4th quarter valued at about $60,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of 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 during the period.

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.