Robert W. Baird Cuts iRhythm Technologies (NASDAQ:IRTC) Price Target to $79.00

iRhythm Technologies (NASDAQ:IRTC) had its target price decreased by Robert W. Baird from $100.00 to $79.00 in a report published on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Oppenheimer reduced their target price on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Needham & Company LLC lowered their target price on shares of iRhythm Technologies from $119.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Truist Financial upped their price target on iRhythm Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com cut iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $108.50.

iRhythm Technologies Price Performance

Shares of iRhythm Technologies stock opened at $81.44 on Friday. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm’s 50-day moving average is $69.48 and its two-hundred day moving average is $84.64. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $124.11.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.71). iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The business had revenue of $147.54 million during the quarter, compared to the consensus estimate of $146.69 million. During the same period last year, the firm earned ($0.89) EPS. The business’s quarterly revenue was up 18.4% on a year-over-year basis. As a group, sell-side analysts anticipate that iRhythm Technologies will post -3.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brice Bobzien sold 1,372 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the sale, the chief financial officer now directly owns 24,428 shares of the company’s stock, valued at $1,718,265.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On iRhythm Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D increased its holdings in iRhythm Technologies by 32.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 28,414 shares of the company’s stock valued at $2,109,000 after buying an additional 6,975 shares in the last quarter. Assetmark Inc. increased its stake in shares of iRhythm Technologies by 8.0% in the 3rd quarter. Assetmark Inc. now owns 12,645 shares of the company’s stock valued at $939,000 after purchasing an additional 937 shares in the last quarter. WoodTrust Financial Corp raised its holdings in iRhythm Technologies by 28.4% in the 3rd quarter. WoodTrust Financial Corp now owns 11,307 shares of the company’s stock worth $839,000 after purchasing an additional 2,500 shares during the period. Harbor Capital Advisors Inc. boosted its position in iRhythm Technologies by 272.0% during the third quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock worth $5,935,000 after purchasing an additional 58,448 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in iRhythm Technologies in the third quarter valued at approximately $592,000.

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.