iRhythm Technologies (NASDAQ:IRTC) Price Target Lowered to $147.00 at Morgan Stanley

iRhythm Technologies (NASDAQ:IRTC - Free Report) had its price objective lowered by Morgan Stanley from $160.00 to $147.00 in a research note published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other analysts also recently weighed in on IRTC. Canaccord Genuity Group reduced their price objective on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company raised shares of iRhythm Technologies from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $104.00 to $130.00 in a research report on Friday, May 2nd. Wall Street Zen lowered iRhythm Technologies from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Citigroup lifted their target price on iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Robert W. Baird boosted their target price on iRhythm Technologies from $133.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.30.

iRhythm Technologies Stock Up 2.3%

Shares of iRhythm Technologies stock traded up $3.08 on Tuesday, reaching $137.00. 457,811 shares of the company were exchanged, compared to its average volume of 490,328. The stock's 50 day moving average price is $143.11 and its 200-day moving average price is $118.61. The company has a debt-to-equity ratio of 7.47, a current ratio of 5.71 and a quick ratio of 5.58. iRhythm Technologies has a 1-year low of $55.92 and a 1-year high of $157.13. The company has a market cap of $4.37 billion, a P/E ratio of -43.63 and a beta of 1.41.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). The firm had revenue of $158.68 million for the quarter, compared to analyst estimates of $153.39 million. iRhythm Technologies had a negative return on equity of 101.04% and a negative net margin of 15.90%. The business's revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.23) EPS. As a group, equities analysts forecast that iRhythm Technologies will post -1.98 EPS for the current year.

Insider Buying and Selling

In other news, CFO Daniel G. Wilson sold 3,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $150.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief financial officer owned 40,307 shares in the company, valued at $6,046,050. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Minang Turakhia sold 1,420 shares of iRhythm Technologies stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $145.41, for a total transaction of $206,482.20. Following the completion of the transaction, the executive vice president owned 41,393 shares in the company, valued at approximately $6,018,956.13. This trade represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,356 shares of company stock valued at $796,882 over the last quarter. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On iRhythm Technologies

A number of large investors have recently bought and sold shares of the company. Bank Pictet & Cie Europe AG boosted its holdings in iRhythm Technologies by 5.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,289 shares of the company's stock worth $297,000 after buying an additional 184 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in iRhythm Technologies by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 259,494 shares of the company's stock valued at $23,399,000 after purchasing an additional 3,791 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in iRhythm Technologies during the fourth quarter worth approximately $9,151,000. PNC Financial Services Group Inc. boosted its holdings in shares of iRhythm Technologies by 32.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,980 shares of the company's stock worth $449,000 after purchasing an additional 1,215 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in iRhythm Technologies by 15.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,198 shares of the company's stock valued at $739,000 after buying an additional 1,068 shares during the period.

About iRhythm Technologies

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.