Shares of Irhythm Technologies Inc (NASDAQ:IRTC) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $88.67.
IRTC has been the topic of a number of research reports. Dougherty & Co downgraded shares of Irhythm Technologies from a “neutral” rating to a “sell” rating in a research report on Monday, July 16th. BMO Capital Markets boosted their target price on shares of Irhythm Technologies to $93.00 and gave the company an “outperform” rating in a research report on Tuesday, July 10th. BidaskClub downgraded shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, April 24th. Morgan Stanley boosted their target price on shares of Irhythm Technologies from $70.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, June 4th. Finally, Zacks Investment Research downgraded shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th.
In other Irhythm Technologies news, CFO Matthew C. Garrett sold 14,537 shares of the company’s stock in a transaction on Wednesday, July 18th. The shares were sold at an average price of $83.91, for a total transaction of $1,219,799.67. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond W. Scott sold 6,877 shares of the company’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $80.41, for a total transaction of $552,979.57. Following the transaction, the director now owns 8,905 shares in the company, valued at approximately $716,051.05. The disclosure for this sale can be found here. Insiders have sold a total of 101,414 shares of company stock worth $8,266,879 in the last quarter. 23.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRTC. Geode Capital Management LLC raised 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 buying an additional 2,023 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Irhythm Technologies during the fourth quarter worth $331,000. Two Sigma Investments LP raised its holdings in Irhythm Technologies by 166.4% during the fourth quarter. Two Sigma Investments LP now owns 14,713 shares of the company’s stock worth $825,000 after buying an additional 9,191 shares during the last quarter. Shaker Investments LLC OH raised its holdings in Irhythm Technologies by 396.1% during the first quarter. Shaker Investments LLC OH now owns 23,318 shares of the company’s stock worth $1,468,000 after buying an additional 18,618 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Irhythm Technologies by 109.7% during the first quarter. Wells Fargo & Company MN now owns 696,746 shares of the company’s stock worth $43,860,000 after buying an additional 364,422 shares during the last quarter.
Shares of Irhythm Technologies stock traded up $0.28 during trading on Thursday, reaching $83.89. 215,918 shares of the company traded hands, compared to its average volume of 366,391. The company has a current ratio of 5.58, a quick ratio of 6.48 and a debt-to-equity ratio of 0.48. Irhythm Technologies has a 1-year low of $43.03 and a 1-year high of $90.40.
Irhythm Technologies (NASDAQ:IRTC) last released its earnings results on Wednesday, August 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.12). Irhythm Technologies had a negative net margin of 34.38% and a negative return on equity of 53.59%. The company had revenue of $35.50 million for the quarter, compared to analyst estimates of $32.52 million. During the same quarter in the previous year, the firm earned ($0.29) EPS. The firm’s revenue was up 48.8% on a year-over-year basis. equities research analysts predict that Irhythm Technologies will post -1.91 EPS for the current fiscal year.
About Irhythm Technologies
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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