Irhythm Technologies Inc (NASDAQ:IRTC) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $71.17.
A number of equities research analysts have recently issued reports on the company. BidaskClub cut Irhythm Technologies from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. BMO Capital Markets assumed coverage on Irhythm Technologies in a report on Monday, March 5th. They set an “outperform” rating and a $76.00 price objective for the company. ValuEngine upgraded Irhythm Technologies from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Northland Securities restated a “hold” rating and set a $60.00 price objective on shares of Irhythm Technologies in a report on Wednesday. Finally, Dougherty & Co assumed coverage on Irhythm Technologies in a report on Friday, December 1st. They set a “neutral” rating for the company.
In related news, insider Kevin M. King sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $64.52, for a total value of $3,871,200.00. Following the completion of the sale, the insider now directly owns 201,842 shares in the company, valued at $13,022,845.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David A. Vort sold 935 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 22,221 shares of the company’s stock, valued at $1,489,029.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 395,362 shares of company stock valued at $25,152,594. 23.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the stock. Redmile Group LLC boosted its stake in shares of 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 buying an additional 262,533 shares during the period. Macquarie Group Ltd. bought a new stake in Irhythm Technologies during the fourth quarter worth $608,000. Jane Street Group LLC bought a new stake in Irhythm Technologies during the fourth quarter worth $1,154,000. Paloma Partners Management Co bought a new stake in Irhythm Technologies during the fourth quarter worth $970,000. Finally, Perceptive Advisors LLC lifted its stake in Irhythm Technologies by 14.7% during the fourth quarter. Perceptive Advisors LLC now owns 427,371 shares of the company’s stock worth $23,954,000 after purchasing an additional 54,700 shares during the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.
Shares of Irhythm Technologies (IRTC) traded up $0.49 during midday trading on Friday, reaching $63.69. The company’s stock had a trading volume of 228,209 shares, compared to its average volume of 231,185. The firm has a market capitalization of $1,504.18, a P/E ratio of -48.92 and a beta of 0.98. The company has a current ratio of 5.72, a quick ratio of 5.64 and a debt-to-equity ratio of 0.41. Irhythm Technologies has a 1 year low of $32.10 and a 1 year high of $68.07.
Irhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.13). Irhythm Technologies had a negative return on equity of 34.44% 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 period last year, the firm earned ($0.37) EPS. Irhythm Technologies’s quarterly revenue was up 50.8% compared to the same quarter last year. equities analysts forecast that Irhythm Technologies will post -1.54 EPS for the current fiscal 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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