Shares of Irhythm Technologies Inc (NASDAQ:IRTC) have been given an average rating of “Hold” by the seven analysts that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $67.67.
A number of brokerages recently commented on IRTC. Dougherty & Co began coverage on shares of Irhythm Technologies in a report on Friday. They issued a “neutral” rating for the company. Zacks Investment Research downgraded shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. ValuEngine raised shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. Canaccord Genuity increased their price target on shares of Irhythm Technologies from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 22nd. Finally, Royal Bank Of Canada started coverage on shares of Irhythm Technologies in a research note on Monday. They issued an “outperform” rating and a $79.00 price objective for the company.
In other Irhythm Technologies news, Director Raymond W. Scott sold 4,661 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $48.02, for a total value of $223,821.22. Following the completion of the sale, the director now owns 4,661 shares of the company’s stock, valued at $223,821.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Raymond W. Scott sold 8,088 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $48.00, for a total transaction of $388,224.00. Following the completion of the sale, the director now directly owns 8,088 shares of the company’s stock, valued at approximately $388,224. The disclosure for this sale can be found here. In the last three months, insiders sold 337,362 shares of company stock valued at $17,403,035. 23.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pier Capital LLC bought a new stake in Irhythm Technologies in the second quarter worth about $6,796,000. Alliancebernstein L.P. raised its stake in shares of Irhythm Technologies by 644.3% during the second quarter. Alliancebernstein L.P. now owns 883,986 shares of the company’s stock valued at $37,561,000 after acquiring an additional 765,218 shares in the last quarter. Employees Retirement System of Texas bought a new stake in shares of Irhythm Technologies during the second quarter valued at approximately $1,742,000. Osterweis Capital Management Inc. bought a new stake in shares of Irhythm Technologies during the second quarter valued at approximately $3,281,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Irhythm Technologies by 2,702.1% during the second quarter. Bank of New York Mellon Corp now owns 607,054 shares of the company’s stock valued at $25,794,000 after acquiring an additional 585,390 shares in the last quarter. 97.80% of the stock is owned by institutional investors and hedge funds.
Shares of Irhythm Technologies (NASDAQ:IRTC) traded down $1.06 during trading hours on Friday, hitting $52.29. 402,281 shares of the company were exchanged, compared to its average volume of 263,711. The company has a quick ratio of 7.57, a current ratio of 7.65 and a debt-to-equity ratio of 0.38. Irhythm Technologies has a 1 year low of $24.25 and a 1 year high of $57.90.
Irhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.29) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.05. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 27.67%. The firm had revenue of $25.04 million during the quarter, compared to the consensus estimate of $24.30 million. During the same quarter last year, the firm earned ($2.80) EPS. The firm’s revenue for the quarter was up 49.2% compared to the same quarter last year. sell-side analysts forecast that Irhythm Technologies will post -1.17 earnings per share for the current year.
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About Irhythm Technologies
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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