iRhythm Technologies (NASDAQ:IRTC) Price Target Raised to $160.00

iRhythm Technologies (NASDAQ:IRTC) had its price target increased by Morgan Stanley from $130.00 to $160.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently issued reports on IRTC. Citigroup boosted their price objective on shares of iRhythm Technologies from $130.00 to $167.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. Robert W. Baird upped their price target on shares of iRhythm Technologies from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Truist Financial upped their price target on shares of iRhythm Technologies from $111.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wall Street Zen cut shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company raised shares of iRhythm Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $104.00 to $130.00 in a research note on Friday, May 2nd. One 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $136.45.

iRhythm Technologies Trading Down 1.1%

NASDAQ:IRTC opened at $143.85 on Wednesday. The company has a market capitalization of $4.59 billion, a PE ratio of -39.52 and a beta of 1.40. iRhythm Technologies has a 52-week low of $55.92 and a 52-week high of $150.00. The stock’s 50 day moving average price is $126.80 and its 200 day moving average price is $109.74. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00.

iRhythm Technologies (NASDAQ:IRTC) last announced 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 business had revenue of $158.68 million during the quarter, compared to analyst estimates of $153.39 million. iRhythm Technologies had a negative net margin of 19.14% and a negative return on equity of 118.83%. The business’s revenue was up 20.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.23) earnings per share. On average, research analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in iRhythm Technologies by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 570,048 shares of the company’s stock valued at $50,991,000 after purchasing an additional 50,075 shares during the last quarter. Invesco Ltd. lifted its stake in iRhythm Technologies by 1.1% during the fourth quarter. Invesco Ltd. now owns 19,200 shares of the company’s stock valued at $1,731,000 after purchasing an additional 207 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in iRhythm Technologies by 23.2% during the fourth quarter. Bank of New York Mellon Corp now owns 491,485 shares of the company’s stock valued at $44,317,000 after purchasing an additional 92,591 shares during the last quarter. Banque Pictet & Cie SA lifted its position in shares of iRhythm Technologies by 12.7% in the 4th quarter. Banque Pictet & Cie SA now owns 59,264 shares of the company’s stock valued at $5,344,000 after acquiring an additional 6,696 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of iRhythm Technologies by 32.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,980 shares of the company’s stock valued at $449,000 after acquiring an additional 1,215 shares in the last quarter.

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.