Irhythm Technologies (IRTC) Upgraded at BidaskClub

Irhythm Technologies (NASDAQ:IRTC) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other equities research analysts also recently commented on IRTC. Zacks Investment Research downgraded shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Canaccord Genuity increased their price target on shares of Irhythm Technologies from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 22nd. ValuEngine raised shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. Morgan Stanley increased their price target on shares of Irhythm Technologies from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Finally, Dougherty & Co initiated coverage on shares of Irhythm Technologies in a report on Friday, December 1st. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $65.25.

Shares of Irhythm Technologies (NASDAQ IRTC) opened at $59.81 on Friday. The company has a market cap of $1,400.00 and a PE ratio of -50.26. Irhythm Technologies has a fifty-two week low of $28.70 and a fifty-two week high of $60.11. The company has a current ratio of 7.65, a quick ratio of 7.57 and a debt-to-equity ratio of 0.38.

Irhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.05. The business had revenue of $25.04 million for the quarter, compared to the consensus estimate of $24.30 million. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 27.67%. The company’s revenue was up 49.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.80) earnings per share. equities research analysts anticipate that Irhythm Technologies will post -1.17 EPS for the current year.

In other news, insider Kevin M. King sold 60,000 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $51.85, for a total value of $3,111,000.00. Following the sale, the insider now directly owns 103,042 shares of the company’s stock, valued at $5,342,727.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Vijay K. Lathi sold 150,000 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $52.57, for a total transaction of $7,885,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 493,623 shares of company stock worth $25,794,521. Insiders own 23.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Perceptive Advisors LLC raised its stake in Irhythm Technologies by 31.8% in the third quarter. Perceptive Advisors LLC now owns 372,671 shares of the company’s stock valued at $19,335,000 after purchasing an additional 89,814 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Irhythm Technologies by 90.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 76,586 shares of the company’s stock valued at $3,974,000 after purchasing an additional 36,315 shares in the last quarter. Wells Fargo & Company MN raised its stake in Irhythm Technologies by 67.0% in the third quarter. Wells Fargo & Company MN now owns 609,187 shares of the company’s stock valued at $31,604,000 after purchasing an additional 244,411 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Irhythm Technologies by 9,692.8% in the third quarter. JPMorgan Chase & Co. now owns 313,371 shares of the company’s stock valued at $16,220,000 after purchasing an additional 310,171 shares in the last quarter. Finally, EAM Investors LLC raised its stake in Irhythm Technologies by 307.4% in the third quarter. EAM Investors LLC now owns 101,623 shares of the company’s stock valued at $5,272,000 after purchasing an additional 76,681 shares in the last quarter. 97.80% of the stock is currently owned by hedge funds and other institutional investors.

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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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