Canaccord Genuity Group Trims iRhythm Technologies (NASDAQ:IRTC) Target Price to $122.00

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

Several other brokerages have also recently commented on IRTC. Needham & Company LLC raised their target price on shares of iRhythm Technologies from $137.00 to $138.00 and gave the stock a buy rating in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of iRhythm Technologies from $142.00 to $133.00 and set an overweight rating on the stock in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, iRhythm Technologies currently has an average rating of Moderate Buy and a consensus price target of $134.00.

iRhythm Technologies Trading Up 4.0 %

Shares of iRhythm Technologies stock traded up $4.15 during trading hours on Friday, reaching $106.83. 565,740 shares of the company’s stock were exchanged, compared to its average volume of 431,558. The company has a 50 day moving average of $110.98 and a two-hundred day moving average of $103.33. iRhythm Technologies has a fifty-two week low of $70.24 and a fifty-two week high of $132.92. The company has a current ratio of 7.10, a quick ratio of 6.95 and a debt-to-equity ratio of 7.13.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.66). iRhythm Technologies had a negative return on equity of 69.87% and a negative net margin of 25.33%. The business had revenue of $132.51 million for the quarter, compared to analyst estimates of $131.14 million. On average, research analysts expect that iRhythm Technologies will post -3.14 EPS for the current fiscal year.

Insider Buying and Selling

In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,261 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 $153,791.56. Following the sale, the executive vice president now owns 32,967 shares of the company’s stock, valued at $4,020,655.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other iRhythm Technologies news, 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 sale, the chief technology officer now owns 64,412 shares of the company’s stock, valued at $7,855,687.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel G. Wilson sold 1,261 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 $153,791.56. Following the sale, the executive vice president now directly owns 32,967 shares in the company, valued at approximately $4,020,655.32. The disclosure for this sale can be found here. Insiders have sold a total of 35,052 shares of company stock valued at $4,274,942 over the last 90 days. 0.68% of the stock is owned by insiders.

Institutional Trading of iRhythm Technologies

Institutional investors have recently bought and sold shares of the company. Covestor Ltd raised its holdings in shares of iRhythm Technologies by 285.2% during the third quarter. Covestor Ltd now owns 312 shares of the company’s stock valued at $29,000 after purchasing an additional 231 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of iRhythm Technologies by 110.3% during the third quarter. Nisa Investment Advisors LLC now owns 574 shares of the company’s stock valued at $54,000 after purchasing an additional 301 shares during the period. International Assets Investment Management LLC acquired a new position in shares of iRhythm Technologies during the fourth quarter valued at about $92,000. Quent Capital LLC acquired a new position in shares of iRhythm Technologies during the fourth quarter valued at about $161,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of iRhythm Technologies during the fourth quarter valued at about $205,000.

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.