Shares of Irhythm Technologies Inc (NASDAQ:IRTC) were up 7.2% during mid-day trading on Thursday . The company traded as high as $83.47 and last traded at $82.83. Approximately 708,261 shares were traded during trading, an increase of 153% from the average daily volume of 280,483 shares. The stock had previously closed at $77.26.
A number of analysts recently issued reports on IRTC shares. Chardan Capital started coverage on Irhythm Technologies in a research note on Thursday, September 6th. They set a “buy” rating and a $117.00 price objective on the stock. BidaskClub upgraded Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 24th. Canaccord Genuity reiterated a “buy” rating and set a $93.00 price objective on shares of Irhythm Technologies in a research note on Thursday, August 2nd. Zacks Investment Research upgraded Irhythm Technologies from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Saturday, October 27th. Finally, BTIG Research reiterated a “hold” rating on shares of Irhythm Technologies in a research note on Thursday, August 2nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $93.13.
The company has a debt-to-equity ratio of 0.48, a current ratio of 5.58 and a quick ratio of 5.47. The stock has a market capitalization of $1.92 billion, a P/E ratio of -63.72 and a beta of 1.34.
Irhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Tuesday, October 30th. The company reported ($0.43) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.02. Irhythm Technologies had a negative return on equity of 60.80% and a negative net margin of 33.79%. The business had revenue of $38.10 million during the quarter, compared to analysts’ expectations of $35.87 million. During the same period in the previous year, the business earned ($0.29) earnings per share. The firm’s revenue was up 52.2% on a year-over-year basis. Analysts forecast that Irhythm Technologies Inc will post -1.91 EPS for the current fiscal year.
In related news, EVP Derrick Sung sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $88.01, for a total transaction of $880,100.00. Following the completion of the transaction, the executive vice president now directly owns 29,458 shares in the company, valued at $2,592,598.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kevin M. King sold 60,000 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $82.90, for a total value of $4,974,000.00. Following the transaction, the insider now owns 282,367 shares of the company’s stock, valued at $23,408,224.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,000 shares of company stock valued at $6,685,100. 23.30% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Engineers Gate Manager LP purchased a new position in Irhythm Technologies during the third quarter worth about $3,745,000. Victory Capital Management Inc. grew its position in Irhythm Technologies by 5.6% during the third quarter. Victory Capital Management Inc. now owns 221,190 shares of the company’s stock worth $20,938,000 after buying an additional 11,765 shares in the last quarter. US Bancorp DE grew its position in Irhythm Technologies by 1,995.5% during the third quarter. US Bancorp DE now owns 17,351 shares of the company’s stock worth $1,642,000 after buying an additional 16,523 shares in the last quarter. AMS Capital Ltda purchased a new position in Irhythm Technologies during the third quarter worth about $714,000. Finally, First Trust Advisors LP grew its position in Irhythm Technologies by 36.7% during the third quarter. First Trust Advisors LP now owns 67,586 shares of the company’s stock worth $6,398,000 after buying an additional 18,151 shares in the last quarter.
About Irhythm Technologies (NASDAQ:IRTC)
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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