Irhythm Technologies (NASDAQ:IRTC) had its target price lifted by BTIG Research to $90.00 in a research note released on Wednesday morning, The Fly reports. They currently have a buy rating on the stock.
Several other equities analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Irhythm Technologies from a buy rating to a hold rating in a report on Saturday, February 16th. BidaskClub upgraded shares of Irhythm Technologies from a hold rating to a buy rating in a research report on Friday, February 15th. Canaccord Genuity boosted their price target on shares of Irhythm Technologies from $90.00 to $104.00 and gave the stock a buy rating in a research report on Wednesday, February 13th. BMO Capital Markets boosted their price target on shares of Irhythm Technologies from $96.00 to $105.00 and gave the stock an outperform rating in a research report on Wednesday, February 13th. Finally, Chardan Capital lowered shares of Irhythm Technologies from a buy rating to a neutral rating and lowered their price target for the stock from $111.00 to $104.00 in a research report on Wednesday, February 20th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $98.44.
Shares of IRTC traded down $2.21 during mid-day trading on Wednesday, reaching $72.29. The company had a trading volume of 16,425 shares, compared to its average volume of 479,564. The company has a quick ratio of 3.45, a current ratio of 3.52 and a debt-to-equity ratio of 0.64. Irhythm Technologies has a 52 week low of $58.99 and a 52 week high of $98.37. The stock has a market cap of $1.84 billion, a P/E ratio of -38.20 and a beta of 1.66.
Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.17. Irhythm Technologies had a negative return on equity of 69.79% and a negative net margin of 32.78%. The firm had revenue of $47.21 million for the quarter, compared to analysts’ expectations of $43.83 million. During the same period in the previous year, the firm posted ($0.47) EPS. The business’s revenue for the quarter was up 54.4% compared to the same quarter last year. On average, equities analysts anticipate that Irhythm Technologies will post -1.65 EPS for the current year.
In other Irhythm Technologies news, Director Bruce G. Bodaken sold 2,158 shares of the business’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $95.90, for a total value of $206,952.20. Following the transaction, the director now directly owns 5,300 shares in the company, valued at approximately $508,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew C. Garrett sold 20,203 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $90.10, for a total transaction of $1,820,290.30. Following the completion of the transaction, the chief financial officer now owns 40,407 shares in the company, valued at $3,640,670.70. The disclosure for this sale can be found here. Insiders sold a total of 106,823 shares of company stock worth $9,628,023 over the last quarter. 3.85% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc lifted its position in Irhythm Technologies by 54.0% during the third quarter. Vanguard Group Inc now owns 1,350,269 shares of the company’s stock valued at $127,816,000 after purchasing an additional 473,235 shares during the period. Vanguard Group Inc. grew its holdings in shares of Irhythm Technologies by 54.0% during the third quarter. Vanguard Group Inc. now owns 1,350,269 shares of the company’s stock worth $127,816,000 after buying an additional 473,235 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Irhythm Technologies by 30.6% during the fourth quarter. Millennium Management LLC now owns 977,269 shares of the company’s stock worth $67,901,000 after buying an additional 229,090 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Irhythm Technologies by 2.6% during the fourth quarter. Lord Abbett & CO. LLC now owns 738,676 shares of the company’s stock worth $51,323,000 after buying an additional 18,488 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Irhythm Technologies during the fourth quarter worth about $46,416,000.
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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