iRhythm Technologies (NASDAQ:IRTC) PT Lowered to $122.00 at Canaccord Genuity Group

iRhythm Technologies (NASDAQ:IRTC) had its price target lowered by Canaccord Genuity Group from $133.00 to $122.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Needham & Company LLC lifted their target price on shares of iRhythm Technologies from $137.00 to $138.00 and gave the company a buy rating in a report on Friday. JPMorgan Chase & Co. dropped their target price on shares of iRhythm Technologies from $142.00 to $133.00 and set an overweight rating for the company in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $134.00.

iRhythm Technologies Stock Down 7.4 %

Shares of NASDAQ:IRTC traded down $8.20 during trading on Friday, hitting $102.68. 887,487 shares of the company were exchanged, compared to its average volume of 350,414. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.15 and a quick ratio of 2.02. The firm’s 50 day moving average price is $111.02 and its 200-day moving average price is $102.94. The stock has a market capitalization of $3.20 billion, a P/E ratio of -24.27 and a beta of 1.31. iRhythm Technologies has a 12-month low of $70.24 and a 12-month high of $134.45.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.66). iRhythm Technologies had a negative net margin of 25.33% and a negative return on equity of 59.64%. The firm had revenue of $132.51 million during the quarter, compared to analyst estimates of $131.14 million. On average, research analysts predict that iRhythm Technologies will post -3.14 earnings per share for the current fiscal year.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, CEO Quentin S. Blackford sold 24,701 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $3,012,533.96. Following the transaction, the chief executive officer now owns 180,015 shares in the company, valued at approximately $21,954,629.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other iRhythm Technologies news, CEO Quentin S. Blackford sold 24,701 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total value of $3,012,533.96. Following the transaction, the chief executive officer now directly owns 180,015 shares of the company’s stock, valued at approximately $21,954,629.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Mark J. Day sold 1,475 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $179,891.00. Following the completion of the sale, the chief technology officer now directly owns 64,412 shares in the company, valued at $7,855,687.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,052 shares of company stock worth $4,274,942. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On iRhythm Technologies

A number of institutional investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. bought a new stake in iRhythm Technologies during the first quarter valued at $1,925,000. Capstone Investment Advisors LLC bought a new stake in shares of iRhythm Technologies during the 1st quarter valued at about $1,078,000. BNP Paribas Financial Markets raised its stake in iRhythm Technologies by 9.2% during the first quarter. BNP Paribas Financial Markets now owns 16,176 shares of the company’s stock worth $1,876,000 after acquiring an additional 1,358 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in iRhythm Technologies by 7.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,111 shares of the company’s stock worth $9,360,000 after acquiring an additional 5,276 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in iRhythm Technologies by 13.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 415,026 shares of the company’s stock valued at $48,143,000 after acquiring an additional 49,168 shares during the period.

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.