iRhythm Technologies (NASDAQ:IRTC - Get Free Report) had its price objective lifted by analysts at Morgan Stanley from $130.00 to $160.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 9.98% from the company's previous close.
Other research analysts also recently issued reports about the stock. Needham & Company LLC increased their price objective on shares of iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Citigroup boosted their price target on iRhythm Technologies from $130.00 to $167.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Wall Street Zen cut iRhythm Technologies from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Truist Financial boosted their target price on shares of iRhythm Technologies from $111.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Canaccord Genuity Group reduced their price target on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, iRhythm Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $136.45.
Get Our Latest Report on IRTC
iRhythm Technologies Trading Down 1.3%
Shares of NASDAQ IRTC traded down $1.90 during midday trading on Wednesday, reaching $145.48. 432,838 shares of the stock were exchanged, compared to its average volume of 482,076. The stock has a 50 day moving average price of $124.95 and a 200-day moving average price of $108.88. 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 company has a market capitalization of $4.64 billion, a P/E ratio of -39.97 and a beta of 1.40. iRhythm Technologies has a 52-week low of $55.92 and a 52-week high of $150.00.
iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.06). iRhythm Technologies had a negative return on equity of 118.83% and a negative net margin of 19.14%. The firm had revenue of $158.68 million for the quarter, compared to analyst estimates of $153.39 million. During the same quarter in the prior year, the company earned ($1.23) earnings per share. The business's revenue was up 20.3% compared to the same quarter last year. Equities research analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. MCF Advisors LLC bought a new stake in shares of iRhythm Technologies during the 1st quarter worth about $25,000. AlphaQuest LLC acquired a new position in shares of iRhythm Technologies during the first quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in iRhythm Technologies during the first quarter worth approximately $50,000. CWM LLC lifted its position in iRhythm Technologies by 54.3% in the first quarter. CWM LLC now owns 517 shares of the company's stock worth $54,000 after purchasing an additional 182 shares during the period. Finally, Van ECK Associates Corp lifted its position in iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company's stock worth $50,000 after purchasing an additional 162 shares during the period.
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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