Shares of Irhythm Technologies Inc (NASDAQ:IRTC) have received a consensus recommendation of “Buy” from the eleven research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $97.33.
IRTC has been the subject of a number of research analyst reports. BidaskClub downgraded Irhythm Technologies from a “buy” rating to a “hold” rating in a report on Saturday, March 9th. BTIG Research upgraded Irhythm Technologies from a “neutral” rating to a “buy” rating and set a $80.00 price target for the company in a report on Wednesday, April 3rd. BMO Capital Markets boosted their price target on Irhythm Technologies from $96.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, February 13th. Canaccord Genuity boosted their price objective on Irhythm Technologies from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, February 13th. Finally, Zacks Investment Research upgraded Irhythm Technologies from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Wednesday, April 17th.
In related news, insider Kevin M. King sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $88.76, for a total transaction of $5,325,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David A. Vort sold 4,286 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $90.00, for a total value of $385,740.00. Following the transaction, the executive vice president now owns 24,125 shares of the company’s stock, valued at approximately $2,171,250. The disclosure for this sale can be found here. Insiders have sold a total of 81,576 shares of company stock valued at $7,349,536 in the last 90 days. Insiders own 3.85% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. boosted its position in Irhythm Technologies by 288.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 447 shares of the company’s stock worth $35,000 after acquiring an additional 332 shares during the period. Quantamental Technologies LLC acquired a new position in Irhythm Technologies during the 4th quarter worth $55,000. Pearl River Capital LLC acquired a new position in Irhythm Technologies during the 4th quarter worth $66,000. Bank of Montreal Can boosted its position in Irhythm Technologies by 574.7% during the 4th quarter. Bank of Montreal Can now owns 1,120 shares of the company’s stock worth $78,000 after acquiring an additional 954 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Irhythm Technologies by 38.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,278 shares of the company’s stock worth $89,000 after acquiring an additional 358 shares during the period.
Shares of NASDAQ IRTC traded up $0.64 during trading on Friday, reaching $70.67. The stock had a trading volume of 616,534 shares, compared to its average volume of 477,007. Irhythm Technologies has a one year low of $58.99 and a one year high of $98.37. The company has a current ratio of 3.27, a quick ratio of 3.45 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -37.39 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) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.17. Irhythm Technologies had a negative return on equity of 71.31% and a negative net margin of 27.56%. The business had revenue of $47.21 million during the quarter, compared to the consensus estimate of $43.83 million. During the same period in the previous year, the business earned ($0.47) EPS. The business’s quarterly revenue was up 54.4% on a year-over-year basis. As a group, equities analysts predict that Irhythm Technologies will post -1.53 earnings per share for the current 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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