Irhythm Technologies Inc (NASDAQ:IRTC) has been given an average recommendation of “Hold” by the eight research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $67.50.
IRTC has been the topic of several analyst reports. Morgan Stanley raised their price objective on Irhythm Technologies from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Canaccord Genuity restated a “buy” rating and set a $59.00 price objective on shares of Irhythm Technologies in a report on Tuesday, November 14th. Zacks Investment Research cut Irhythm Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Royal Bank of Canada assumed coverage on Irhythm Technologies in a report on Monday, December 4th. They set an “outperform” rating and a $79.00 price objective on the stock. Finally, BidaskClub raised Irhythm Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th.
In related news, CFO Matthew C. Garrett sold 1,193 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $55.00, for a total value of $65,615.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Vijay K. Lathi sold 57,430 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $52.41, for a total value of $3,009,906.30. The disclosure for this sale can be found here. Insiders sold a total of 251,533 shares of company stock worth $13,500,006 over the last ninety days. Corporate insiders own 23.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of IRTC. JPMorgan Chase & Co. raised its position in shares of Irhythm Technologies by 9,692.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 313,371 shares of the company’s stock worth $16,220,000 after buying an additional 310,171 shares during the period. OppenheimerFunds Inc. purchased a new position in shares of Irhythm Technologies in the 4th quarter worth $15,385,000. Citadel Advisors LLC raised its position in shares of Irhythm Technologies by 84.1% in the 4th quarter. Citadel Advisors LLC now owns 594,494 shares of the company’s stock worth $33,321,000 after buying an additional 271,543 shares during the period. Redmile Group LLC raised its position in Irhythm Technologies by 47.6% in the fourth quarter. Redmile Group LLC now owns 814,574 shares of the company’s stock valued at $45,657,000 after purchasing an additional 262,533 shares during the period. Finally, Wells Fargo & Company MN raised its position in Irhythm Technologies by 67.0% in the third quarter. Wells Fargo & Company MN now owns 609,187 shares of the company’s stock valued at $31,604,000 after purchasing an additional 244,411 shares during the period. 99.18% of the stock is currently owned by institutional investors and hedge funds.
Irhythm Technologies (IRTC) traded up $1.76 during mid-day trading on Wednesday, hitting $62.61. The stock had a trading volume of 436,143 shares, compared to its average volume of 230,952. Irhythm Technologies has a 1-year low of $32.10 and a 1-year high of $66.20. The company has a quick ratio of 7.57, a current ratio of 7.65 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1,438.87, a PE ratio of -48.16 and a beta of 1.56.
Irhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.13). Irhythm Technologies had a negative return on equity of 33.67% and a negative net margin of 29.87%. The business had revenue of $28.20 million for the quarter, compared to analyst estimates of $26.79 million. During the same quarter last year, the business earned ($0.37) EPS. Irhythm Technologies’s revenue for the quarter was up 50.8% compared to the same quarter last year. sell-side analysts forecast that Irhythm Technologies will post -1.53 EPS for the current year.
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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