Irhythm Technologies Inc (NASDAQ:IRTC) – Research analysts at Dougherty & Co decreased their FY2018 EPS estimates for shares of Irhythm Technologies in a research note issued on Thursday. Dougherty & Co analyst G. Mannheimer now anticipates that the company will post earnings per share of ($1.50) for the year, down from their prior estimate of ($1.09). Dougherty & Co currently has a “Neutral” rating on the stock.
Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.13). The company had revenue of $28.20 million for the quarter, compared to analyst estimates of $26.79 million. Irhythm Technologies had a negative return on equity of 33.67% and a negative net margin of 29.87%. The firm’s quarterly revenue was up 50.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.37) EPS.
Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Irhythm Technologies from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday. ValuEngine upgraded shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. BidaskClub downgraded shares of Irhythm Technologies from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Zacks Investment Research downgraded shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Finally, Royal Bank of Canada assumed coverage on shares of Irhythm Technologies in a research report on Monday, December 4th. They set an “outperform” rating and a $79.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.60.
Irhythm Technologies (IRTC) opened at $62.61 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 7.65 and a quick ratio of 7.57. Irhythm Technologies has a 52-week low of $32.10 and a 52-week high of $66.20.
A number of institutional investors have recently added to or reduced their stakes in IRTC. Advisor Group Inc. lifted its position in Irhythm Technologies by 763.9% during the 3rd quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock valued at $151,000 after purchasing an additional 2,582 shares during the period. Shaker Investments LLC OH acquired a new position in Irhythm Technologies during the 4th quarter valued at about $263,000. Voya Investment Management LLC acquired a new position in Irhythm Technologies during the 2nd quarter valued at about $274,000. Two Sigma Advisers LP acquired a new position in Irhythm Technologies during the 4th quarter valued at about $331,000. Finally, Nationwide Fund Advisors lifted its position in Irhythm Technologies by 92.8% during the 2nd quarter. Nationwide Fund Advisors now owns 7,843 shares of the company’s stock valued at $333,000 after purchasing an additional 3,774 shares during the period. Institutional investors own 99.18% of the company’s stock.
In other Irhythm Technologies news, Director Vijay K. Lathi sold 150,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $52.57, for a total transaction of $7,885,500.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Matthew C. Garrett sold 42,910 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $59.17, for a total transaction of $2,538,984.70. Following the transaction, the chief financial officer now owns 36,085 shares in the company, valued at $2,135,149.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,533 shares of company stock worth $13,500,006. Corporate insiders own 23.30% of the company’s stock.
Irhythm Technologies Company Profile
iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.
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