BidaskClub upgraded shares of Irhythm Technologies (NASDAQ:IRTC) from a sell rating to a hold rating in a research report released on Wednesday, December 27th.
A number of other analysts also recently commented on the company. Royal Bank of Canada assumed coverage on Irhythm Technologies in a research report on Monday, December 4th. They issued an outperform rating and a $79.00 price objective for the company. Dougherty & Co initiated coverage on Irhythm Technologies in a research report on Friday, December 1st. They issued a neutral rating for the company. Canaccord Genuity restated a buy rating and set a $59.00 target price on shares of Irhythm Technologies in a research report on Tuesday, November 14th. Morgan Stanley raised their target price on Irhythm Technologies from $50.00 to $65.00 and gave the stock an overweight rating in a research report on Friday, November 3rd. Finally, ValuEngine upgraded Irhythm Technologies from a sell rating to a hold rating in a research report on Saturday, October 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Irhythm Technologies currently has an average rating of Hold and an average target price of $65.25.
Shares of Irhythm Technologies (IRTC) opened at $62.62 on Wednesday. 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 52-week low of $28.70 and a 52-week high of $62.95. The company has a market capitalization of $1,393.60, a P/E ratio of -52.62 and a beta of 2.79.
Irhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.29) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.05. Irhythm Technologies had a negative return on equity of 27.67% and a negative net margin of 27.56%. The company 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 company earned ($2.80) EPS. The company’s quarterly revenue was up 49.2% on a year-over-year basis. sell-side analysts expect that Irhythm Technologies will post -1.17 earnings per share for the current fiscal year.
In other Irhythm Technologies news, CFO Matthew C. Garrett sold 42,910 shares of Irhythm Technologies stock in a transaction on Friday, January 5th. The stock was sold at an average price of $59.17, for a total value of $2,538,984.70. Following the completion of the transaction, the chief financial officer now owns 36,085 shares in the company, valued at approximately $2,135,149.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kevin M. King sold 60,000 shares of Irhythm Technologies stock in a transaction on Monday, November 6th. The shares were sold at an average price of $51.85, for a total value of $3,111,000.00. Following the completion of the transaction, the insider now owns 103,042 shares of the company’s stock, valued at approximately $5,342,727.70. The disclosure for this sale can be found here. Insiders have sold a total of 536,533 shares of company stock valued at $28,333,506 in the last 90 days. 23.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc increased its stake in shares of Irhythm Technologies by 131.0% in the 2nd quarter. Legal & General Group Plc now owns 3,373 shares of the company’s stock valued at $143,000 after buying an additional 1,913 shares during the period. Advisor Group Inc. increased its stake in shares of Irhythm Technologies by 763.9% in the 3rd quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock valued at $151,000 after buying an additional 2,582 shares during the period. Nationwide Fund Advisors increased its stake in shares of Irhythm Technologies by 92.8% in the 2nd quarter. Nationwide Fund Advisors now owns 7,843 shares of the company’s stock valued at $333,000 after buying an additional 3,774 shares during the period. EAM Investors LLC increased its stake in shares of Irhythm Technologies by 19.7% in the 2nd quarter. EAM Investors LLC now owns 24,942 shares of the company’s stock valued at $1,060,000 after buying an additional 4,106 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Irhythm Technologies by 84.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,204 shares of the company’s stock valued at $476,000 after buying an additional 5,124 shares during the period. Hedge funds and other institutional investors own 97.80% of the company’s stock.
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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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