BidaskClub downgraded shares of Irhythm Technologies (NASDAQ:IRTC) from a buy rating to a hold rating in a report released on Friday, March 16th.
A number of other research firms have also commented on IRTC. Royal Bank of Canada initiated coverage on Irhythm Technologies in a research report on Monday, December 4th. They set an outperform rating and a $79.00 price target on the stock. Zacks Investment Research lowered Irhythm Technologies from a hold rating to a sell rating in a research report on Wednesday, January 3rd. Canaccord Genuity restated a buy rating and set a $80.00 price target (up from $68.00) on shares of Irhythm Technologies in a research report on Monday, March 12th. Dougherty & Co began coverage on Irhythm Technologies in a research note on Friday, December 1st. They issued a neutral rating on the stock. Finally, JPMorgan Chase increased their price target on Irhythm Technologies from $62.00 to $67.00 and gave the company an overweight rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $69.29.
Shares of NASDAQ IRTC traded down $1.63 during trading hours on Friday, hitting $60.37. 155,308 shares of the company’s stock were exchanged, compared to its average volume of 162,615. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.64 and a current ratio of 5.72. The stock has a market capitalization of $1,453.99, a PE ratio of -46.44 and a beta of 1.02. Irhythm Technologies has a 1-year low of $32.10 and a 1-year high of $68.07.
Irhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.13). The firm had revenue of $28.20 million during the quarter, compared to analyst estimates of $26.79 million. Irhythm Technologies had a negative net margin of 29.87% and a negative return on equity of 34.44%. The company’s revenue was up 50.8% on a year-over-year basis. During the same period last year, the company earned ($0.37) EPS. equities research analysts forecast that Irhythm Technologies will post -1.54 EPS for the current fiscal year.
In other news, Director Vijay K. Lathi sold 114,018 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $66.44, for a total value of $7,575,355.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David A. Vort sold 935 shares of the firm’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $67.01, for a total value of $62,654.35. Following the completion of the transaction, the executive vice president now owns 22,221 shares of the company’s stock, valued at approximately $1,489,029.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 352,452 shares of company stock valued at $22,613,610. Corporate insiders own 23.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC grew its holdings in Irhythm Technologies by 0.9% during the fourth quarter. Jennison Associates LLC now owns 96,416 shares of the company’s stock worth $5,404,000 after purchasing an additional 878 shares during the period. Geode Capital Management LLC grew its holdings in Irhythm Technologies by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 158,418 shares of the company’s stock worth $8,879,000 after purchasing an additional 2,023 shares during the period. Advisor Group Inc. grew its holdings in Irhythm Technologies by 763.9% during the third quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock worth $151,000 after purchasing an additional 2,582 shares during the period. Shaker Investments LLC OH bought a new position in Irhythm Technologies during the fourth quarter worth about $263,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Irhythm Technologies by 84.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,204 shares of the company’s stock worth $476,000 after purchasing an additional 5,124 shares during the period. Institutional investors and hedge funds own 98.59% of the company’s stock.
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Irhythm Technologies Company Profile
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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