Irhythm Technologies Inc (NASDAQ:IRTC) was down 6.5% on Thursday . The stock traded as low as $56.24 and last traded at $63.04, approximately 2,380,800 shares traded hands during trading. An increase of 761% from the average daily volume of 276,579 shares. The stock had previously closed at $67.42.
Several equities analysts have weighed in on IRTC shares. Zacks Investment Research lowered Irhythm Technologies from a “hold” rating to a “sell” rating in a report on Saturday, November 9th. Oppenheimer started coverage on Irhythm Technologies in a report on Tuesday, October 22nd. They set a “market perform” rating on the stock. JPMorgan Chase & Co. raised their target price on Irhythm Technologies from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. BidaskClub upgraded Irhythm Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, October 18th. Finally, ValuEngine lowered Irhythm Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $99.56.
The company has a fifty day simple moving average of $68.77 and a two-hundred day simple moving average of $74.06. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.66 and a quick ratio of 2.59. The company has a market capitalization of $1.69 billion, a P/E ratio of -34.67 and a beta of 1.72.
Irhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Tuesday, November 5th. The company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.34). The company had revenue of $55.96 million for the quarter, compared to the consensus estimate of $53.76 million. Irhythm Technologies had a negative net margin of 26.45% and a negative return on equity of 97.79%. Irhythm Technologies’s quarterly revenue was up 46.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.43) earnings per share. Equities analysts anticipate that Irhythm Technologies Inc will post -1.96 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. Great Lakes Advisors LLC increased its stake in shares of Irhythm Technologies by 1.1% in the third quarter. Great Lakes Advisors LLC now owns 72,038 shares of the company’s stock worth $5,339,000 after purchasing an additional 799 shares during the period. TimesSquare Capital Management LLC increased its stake in shares of Irhythm Technologies by 18.2% in the third quarter. TimesSquare Capital Management LLC now owns 698,325 shares of the company’s stock worth $51,753,000 after purchasing an additional 107,500 shares during the period. BBVA USA Bancshares Inc. bought a new position in shares of Irhythm Technologies in the third quarter worth about $407,000. Massachusetts Financial Services Co. MA increased its stake in shares of Irhythm Technologies by 25.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 233,325 shares of the company’s stock worth $17,292,000 after purchasing an additional 47,896 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in shares of Irhythm Technologies in the third quarter worth about $124,000.
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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