iRhythm Technologies (NASDAQ:IRTC – Get Free Report)‘s stock had its “overweight” rating reaffirmed by analysts at Morgan Stanley in a note issued to investors on Friday, Benzinga reports. They currently have a $149.00 target price on the stock. Morgan Stanley’s target price indicates a potential upside of 28.04% from the company’s previous close.
IRTC has been the topic of several other research reports. VNET Group reaffirmed a “maintains” rating on shares of iRhythm Technologies in a research note on Friday, May 5th. StockNews.com initiated coverage on shares of iRhythm Technologies in a report on Thursday, May 18th. They set a “sell” rating for the company. Truist Financial lifted their target price on shares of iRhythm Technologies from $137.00 to $154.00 and gave the company a “buy” rating in a research note on Monday, April 17th. Oppenheimer lifted their target price on shares of iRhythm Technologies from $125.00 to $165.00 in a research note on Friday. Finally, Citigroup boosted their price objective on shares of iRhythm Technologies from $130.00 to $135.00 in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $148.60.
Check Out Our Latest Research Report on IRTC
iRhythm Technologies Stock Up 19.4 %
Shares of iRhythm Technologies stock traded up $18.87 during trading hours on Friday, hitting $116.37. The company’s stock had a trading volume of 1,033,651 shares, compared to its average volume of 360,191. iRhythm Technologies has a 1-year low of $85.74 and a 1-year high of $164.69. The business has a fifty day moving average of $103.41 and a 200 day moving average of $113.32. The company has a market capitalization of $3.55 billion, a PE ratio of -33.57 and a beta of 1.35.
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.49). The company had revenue of $111.44 million for the quarter, compared to analyst estimates of $107.57 million. iRhythm Technologies had a negative return on equity of 43.22% and a negative net margin of 24.34%. On average, sell-side analysts anticipate that iRhythm Technologies will post -3.43 earnings per share for the current fiscal year.
Hedge Funds Weigh In On iRhythm Technologies
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRTC. Los Angeles Capital Management LLC raised its stake in iRhythm Technologies by 22.6% during the second quarter. Los Angeles Capital Management LLC now owns 2,567 shares of the company’s stock worth $268,000 after acquiring an additional 474 shares in the last quarter. Headlands Technologies LLC bought a new stake in iRhythm Technologies in the second quarter valued at approximately $177,000. Steel Peak Wealth Management LLC boosted its holdings in shares of iRhythm Technologies by 16.1% during the 2nd quarter. Steel Peak Wealth Management LLC now owns 5,506 shares of the company’s stock worth $574,000 after buying an additional 765 shares in the last quarter. Handelsbanken Fonder AB raised its position in iRhythm Technologies by 1.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 5,300 shares of the company’s stock valued at $553,000 after buying an additional 100 shares during the last quarter. Finally, Duality Advisers LP grew its stake in shares of iRhythm Technologies by 36.1% during the 2nd quarter. Duality Advisers LP now owns 8,963 shares of the company’s stock worth $935,000 after acquiring an additional 2,377 shares during the period.
iRhythm Technologies Company Profile
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
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