Irhythm Technologies (NASDAQ:IRTC)‘s stock had its “hold” rating reaffirmed by equities research analysts at Northland Securities in a note issued to investors on Wednesday, March 14th. They currently have a $60.00 price target on the stock. Northland Securities’ target price would indicate a potential downside of 0.61% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. JPMorgan Chase upped their target price on Irhythm Technologies from $62.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $80.00 target price (up previously from $68.00) on shares of Irhythm Technologies in a report on Monday, March 12th. BMO Capital Markets started coverage on Irhythm Technologies in a research note on Monday, March 5th. They issued an “outperform” rating and a $76.00 price target for the company. BidaskClub raised Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Finally, ValuEngine raised Irhythm Technologies from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $69.29.
Shares of Irhythm Technologies stock traded down $1.63 during trading on Wednesday, reaching $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. Irhythm Technologies has a 1-year low of $32.10 and a 1-year high of $68.07. The stock has a market capitalization of $1,415.80, a P/E ratio of -46.44 and a beta of 1.02.
Irhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Wednesday, February 14th. The company reported ($0.48) earnings per share (EPS) 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 firm had revenue of $28.20 million during the quarter, compared to analyst estimates of $26.79 million. During the same period in the previous year, the company earned ($0.37) EPS. Irhythm Technologies’s revenue for the quarter was up 50.8% on a year-over-year basis. research analysts forecast that Irhythm Technologies will post -1.54 earnings per share for the current year.
In related news, Director Vijay K. Lathi sold 169,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $62.41, for a total transaction of $10,547,290.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Raymond W. Scott sold 8,499 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $65.55, for a total value of $557,109.45. Following the sale, the director now owns 8,499 shares in the company, valued at approximately $557,109.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 352,452 shares of company stock worth $22,613,610. 23.30% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Redmile Group LLC boosted its holdings in Irhythm Technologies by 47.6% in the fourth quarter. Redmile Group LLC now owns 814,574 shares of the company’s stock worth $45,657,000 after acquiring an additional 262,533 shares in the last quarter. Macquarie Group Ltd. bought a new position in Irhythm Technologies in the fourth quarter worth approximately $608,000. Jane Street Group LLC bought a new position in Irhythm Technologies in the fourth quarter worth approximately $1,154,000. Paloma Partners Management Co bought a new position in Irhythm Technologies in the fourth quarter worth approximately $970,000. Finally, Perceptive Advisors LLC boosted its holdings in Irhythm Technologies by 14.7% in the fourth quarter. Perceptive Advisors LLC now owns 427,371 shares of the company’s stock worth $23,954,000 after acquiring an additional 54,700 shares in the last quarter. 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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