Irhythm Technologies (NASDAQ:IRTC) had its price objective increased by research analysts at Morgan Stanley from $92.00 to $95.00 in a research report issued on Thursday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 9.65% from the stock’s current price.

A number of other equities analysts have also recently issued reports on IRTC. BidaskClub upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, June 13th. Royal Bank of Canada upped their price target on shares of Irhythm Technologies to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 13th. Zacks Investment Research cut shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. BMO Capital Markets upped their price target on shares of Irhythm Technologies to $93.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 10th. Finally, Dougherty & Co cut shares of Irhythm Technologies from a “neutral” rating to a “sell” rating in a research note on Monday, July 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $94.14.

Shares of Irhythm Technologies stock opened at $86.64 on Thursday. The stock has a market capitalization of $2.27 billion, a P/E ratio of -64.76 and a beta of 1.35. Irhythm Technologies has a 1 year low of $46.95 and a 1 year high of $98.37. The company has a current ratio of 5.58, a quick ratio of 5.47 and a debt-to-equity ratio of 0.48.

Irhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Wednesday, August 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.12). The firm had revenue of $35.50 million during the quarter, compared to the consensus estimate of $32.52 million. Irhythm Technologies had a negative return on equity of 53.59% and a negative net margin of 34.38%. The business’s revenue for the quarter was up 48.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.29) EPS. As a group, analysts expect that Irhythm Technologies will post -1.91 earnings per share for the current fiscal year.

In other Irhythm Technologies news, CFO Matthew C. Garrett sold 14,537 shares of the company’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $83.91, for a total transaction of $1,219,799.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Derrick Sung sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $83.10, for a total transaction of $831,000.00. Following the transaction, the executive vice president now owns 29,458 shares in the company, valued at approximately $2,447,959.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,537 shares of company stock worth $7,844,900. 5.05% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mutual of America Capital Management LLC lifted its stake in Irhythm Technologies by 1.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 42,997 shares of the company’s stock valued at $3,488,000 after acquiring an additional 700 shares during the period. Swiss National Bank lifted its stake in Irhythm Technologies by 6.8% during the 1st quarter. Swiss National Bank now owns 15,800 shares of the company’s stock valued at $995,000 after acquiring an additional 1,000 shares during the period. Great West Life Assurance Co. Can lifted its stake in Irhythm Technologies by 119.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 1,979 shares of the company’s stock valued at $161,000 after acquiring an additional 1,079 shares during the period. Legal & General Group Plc lifted its stake in Irhythm Technologies by 47.1% during the 2nd quarter. Legal & General Group Plc now owns 3,718 shares of the company’s stock valued at $302,000 after acquiring an additional 1,191 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in Irhythm Technologies during the 2nd quarter valued at about $101,000.

About Irhythm Technologies

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company 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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Analyst Recommendations for Irhythm Technologies (NASDAQ:IRTC)

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