Evercore ISI Cuts iRhythm Technologies (NASDAQ:IRTC) Price Target to $175.00

by · The Cerbat Gem

iRhythm Technologies (NASDAQ:IRTC – Free Report) had its target price reduced by Evercore ISI from $185.00 to $175.00 in a report released on Tuesday,Benzinga reports. They currently have an in-line rating on the stock.

Several other equities analysts have also recently issued reports on IRTC. Wells Fargo & Company lifted their price objective on iRhythm Technologies from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Morgan Stanley dropped their price target on iRhythm Technologies from $160.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday, July 15th. Needham & Company LLC raised their price target on iRhythm Technologies from $180.00 to $193.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Citigroup raised their price target on iRhythm Technologies from $183.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, William Blair raised iRhythm Technologies to a “strong-buy” rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, iRhythm Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $173.17.

View Our Latest Stock Report on iRhythm Technologies

iRhythm Technologies Stock Performance

Shares of IRTC stock opened at $176.56 on Tuesday. The stock has a fifty day moving average price of $171.07 and a 200 day moving average price of $143.73. The stock has a market cap of $5.67 billion, a PE ratio of -60.26 and a beta of 1.15. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $187.57. The company has a debt-to-equity ratio of 6.25, a quick ratio of 4.88 and a current ratio of 5.02.

iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.21. The firm had revenue of $186.69 million during the quarter, compared to analysts’ expectations of $173.94 million. iRhythm Technologies had a negative return on equity of 90.03% and a negative net margin of 14.06%.iRhythm Technologies’s revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.61) earnings per share. iRhythm Technologies has set its FY 2025 guidance at EPS. Sell-side analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Insider Activity

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar sold 5,312 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $158.02, for a total transaction of $839,402.24. Following the completion of the sale, the director owned 20,299 shares of the company’s stock, valued at approximately $3,207,647.98. The trade was a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Marc Wade Rosenbaum sold 226 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $158.93, for a total value of $35,918.18. Following the sale, the chief accounting officer directly owned 10,879 shares of the company’s stock, valued at approximately $1,728,999.47. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,069 shares of company stock valued at $7,627,986 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On iRhythm Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of iRhythm Technologies by 30,928.6% during the first quarter. GAMMA Investing LLC now owns 8,688 shares of the company’s stock worth $909,000 after purchasing an additional 8,660 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of iRhythm Technologies by 7.0% during the first quarter. Rhumbline Advisers now owns 45,946 shares of the company’s stock worth $4,810,000 after purchasing an additional 2,995 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of iRhythm Technologies during the first quarter worth about $123,000. SG Americas Securities LLC lifted its stake in shares of iRhythm Technologies by 95.6% during the first quarter. SG Americas Securities LLC now owns 8,427 shares of the company’s stock worth $882,000 after purchasing an additional 4,119 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of iRhythm Technologies by 16.6% during the first quarter. Handelsbanken Fonder AB now owns 12,639 shares of the company’s stock worth $1,323,000 after purchasing an additional 1,800 shares in the last quarter.

About iRhythm Technologies

(Get Free Report)

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.

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