Irhythm Technologies Inc (IRTC) Given Average Recommendation of “Hold” by Brokerages

Shares of Irhythm Technologies Inc (NASDAQ:IRTC) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $67.67.

Several equities research analysts have commented on the company. BidaskClub upgraded Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Zacks Investment Research upgraded 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. ValuEngine upgraded Irhythm Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, October 21st. Dougherty & Co assumed coverage on Irhythm Technologies in a research note on Friday, December 1st. They issued a “neutral” rating on the stock. Finally, Canaccord Genuity boosted their target price on Irhythm Technologies from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 22nd.

Shares of Irhythm Technologies (IRTC) opened at $62.75 on Friday. The company has a market capitalization of $1,423.24, a P/E ratio of -52.73 and a beta of 2.79. The company has a debt-to-equity ratio of 0.38, a current ratio of 7.65 and a quick ratio of 7.57. Irhythm Technologies has a 12 month low of $28.94 and a 12 month high of $64.10.

Irhythm Technologies (NASDAQ:IRTC) last released its earnings results 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 firm had revenue of $25.04 million for the quarter, compared to analysts’ expectations of $24.30 million. Irhythm Technologies had a negative return on equity of 27.67% and a negative net margin of 27.56%. The business’s quarterly revenue was up 49.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.80) EPS. equities research analysts expect that Irhythm Technologies will post -1.17 earnings per share for the current fiscal year.

In other Irhythm Technologies news, CFO Matthew C. Garrett sold 1,193 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $55.00, for a total transaction of $65,615.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matthew C. Garrett sold 42,910 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $59.17, for a total value of $2,538,984.70. Following the transaction, the chief financial officer now directly owns 36,085 shares in the company, valued at approximately $2,135,149.45. The disclosure for this sale can be found here. Insiders have sold a total of 536,533 shares of company stock worth $28,333,506 in the last ninety days. Insiders own 23.30% of the company’s stock.

Several large investors have recently bought and sold shares of IRTC. Legal & General Group Plc increased its position in shares of Irhythm Technologies by 131.0% during the 2nd quarter. Legal & General Group Plc now owns 3,373 shares of the company’s stock worth $143,000 after purchasing an additional 1,913 shares during the last quarter. Advisor Group Inc. increased its position in shares of Irhythm Technologies by 763.9% during the 3rd quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock worth $151,000 after purchasing an additional 2,582 shares during the last quarter. Voya Investment Management LLC acquired a new position in shares of Irhythm Technologies during the 2nd quarter worth approximately $274,000. GSA Capital Partners LLP acquired a new position in shares of Irhythm Technologies during the 2nd quarter worth approximately $289,000. Finally, Nationwide Fund Advisors increased its position in shares of Irhythm Technologies by 92.8% during the 2nd quarter. Nationwide Fund Advisors now owns 7,843 shares of the company’s stock worth $333,000 after purchasing an additional 3,774 shares during 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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