iRhythm Technologies (NASDAQ:IRTC) Given New $160.00 Price Target at Canaccord Genuity Group

iRhythm Technologies (NASDAQ:IRTC) had its target price boosted by Canaccord Genuity Group from $125.00 to $160.00 in a research note issued to investors on Friday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently issued reports on IRTC. Truist upped their price target on shares of iRhythm Technologies from $130.00 to $185.00 in a research note on Thursday. Truist Securities raised their price target on shares of iRhythm Technologies from $130.00 to $185.00 in a research report on Thursday. JPMorgan Chase & Co. raised shares of iRhythm Technologies from a neutral rating to an overweight rating and raised their price objective for the stock from $100.00 to $116.00 in a research note on Friday, December 17th. Robert W. Baird lifted their price target on shares of iRhythm Technologies from $110.00 to $137.00 in a research note on Wednesday. Finally, Citigroup lifted their price target on iRhythm Technologies from $120.00 to $165.00 and gave the stock a buy rating in a report on Friday. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Buy and an average target price of $155.92.

iRhythm Technologies stock opened at $141.10 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.81 and a current ratio of 3.93. iRhythm Technologies has a fifty-two week low of $41.66 and a fifty-two week high of $286.19. The firm’s fifty day moving average price is $108.59 and its 200-day moving average price is $76.18. The stock has a market cap of $4.15 billion, a P/E ratio of -52.65 and a beta of 1.21.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, November 4th. The company reported ($0.81) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.09) by $0.28. iRhythm Technologies had a negative net margin of 24.55% and a negative return on equity of 25.06%. The firm had revenue of $85.43 million during the quarter, compared to analysts’ expectations of $83.65 million. During the same period last year, the company posted ($0.17) EPS. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, analysts predict that iRhythm Technologies will post -3.58 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. raised its stake in iRhythm Technologies by 190.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 435 shares of the company’s stock worth $29,000 after buying an additional 285 shares during the period. Rockefeller Capital Management L.P. increased its holdings in iRhythm Technologies by 625.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 537 shares of the company’s stock worth $30,000 after purchasing an additional 463 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in iRhythm Technologies by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 554 shares of the company’s stock worth $44,000 after purchasing an additional 170 shares in the last quarter. Fieldpoint Private Securities LLC increased its holdings in iRhythm Technologies by 65.7% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,377 shares of the company’s stock worth $66,000 after purchasing an additional 546 shares in the last quarter. Finally, Ancora Advisors LLC increased its holdings in iRhythm Technologies by 232.6% during the 2nd quarter. Ancora Advisors LLC now owns 1,430 shares of the company’s stock worth $95,000 after purchasing an additional 1,000 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It offers Zio XT, is a wearable patch-based biosensor, continuously records, and stores ECG data from every patient heartbeat for up to 14 consecutive days; and Zio AT, also provides ECG data but also provides physicians with actionable notifications during the wear period.

Read More: What sectors are represented in the Hang Seng index?

The Fly logo

Analyst Recommendations for iRhythm Technologies (NASDAQ:IRTC)

Receive News & Ratings for iRhythm Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iRhythm Technologies and related companies with MarketBeat.com's FREE daily email newsletter.