Irhythm Technologies (NASDAQ:IRTC) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other research firms have also recently weighed in on IRTC. Dougherty & Co assumed coverage on shares of Irhythm Technologies in a research note on Friday, December 1st. They set a “neutral” rating on the stock. Royal Bank of Canada assumed coverage on shares of Irhythm Technologies in a research note on Monday, December 4th. They set an “outperform” rating and a $79.00 target price on the stock. ValuEngine upgraded shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, October 21st. Zacks Investment Research upgraded shares of Irhythm Technologies from a “sell” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Wednesday, October 4th. Finally, Canaccord Genuity lifted their target price on shares of Irhythm Technologies from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Irhythm Technologies currently has a consensus rating of “Hold” and an average price target of $65.25.

Shares of Irhythm Technologies (NASDAQ IRTC) traded up $0.27 during trading on Thursday, hitting $51.77. 249,235 shares of the stock traded hands, compared to its average volume of 247,789. Irhythm Technologies has a 1-year low of $26.17 and a 1-year high of $57.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 7.57 and a current ratio of 7.65.

Irhythm Technologies (NASDAQ:IRTC) last released its earnings results on Wednesday, November 1st. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.05. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 27.67%. The company had revenue of $25.04 million for the quarter, compared to analysts’ expectations of $24.30 million. During the same quarter in the previous year, the company earned ($2.80) EPS. Irhythm Technologies’s revenue for the quarter was up 49.2% on a year-over-year basis. equities analysts expect that Irhythm Technologies will post -1.17 EPS for the current fiscal year.

In other Irhythm Technologies news, Director Vijay K. Lathi sold 225,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $52.10, for a total value of $11,722,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew C. Garrett sold 1,193 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $55.00, for a total transaction of $65,615.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 493,623 shares of company stock worth $25,794,521. 23.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in IRTC. Teachers Advisors LLC lifted its stake in Irhythm Technologies by 400.8% in the 1st quarter. Teachers Advisors LLC now owns 62,281 shares of the company’s stock worth $2,342,000 after purchasing an additional 49,845 shares in the last quarter. Vanguard Group Inc. lifted its stake in Irhythm Technologies by 290.4% in the 1st quarter. Vanguard Group Inc. now owns 305,244 shares of the company’s stock worth $11,477,000 after purchasing an additional 227,050 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Irhythm Technologies by 39.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 28,981 shares of the company’s stock worth $1,090,000 after purchasing an additional 8,145 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Irhythm Technologies in the 2nd quarter worth $876,000. Finally, First Mercantile Trust Co. purchased a new stake in Irhythm Technologies in the 2nd quarter worth $221,000. Institutional investors and hedge funds own 97.80% of the company’s stock.

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Irhythm Technologies Company Profile

iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.

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