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

Irhythm Technologies Inc (NASDAQ:IRTC) has been given an average rating of “Hold” by the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $67.67.

A number of equities research analysts have recently commented on the stock. ValuEngine raised shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. BidaskClub cut shares of Irhythm Technologies from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Dougherty & Co assumed coverage on shares of Irhythm Technologies in a report on Friday, December 1st. They issued a “neutral” rating for the company. Morgan Stanley upped their target price on shares of Irhythm Technologies from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. Finally, Canaccord Genuity upped their target price on shares of Irhythm Technologies from $55.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, November 2nd.

Shares of Irhythm Technologies (IRTC) opened at $59.06 on Wednesday. Irhythm Technologies has a 1-year low of $32.10 and a 1-year high of $66.20. The company has a quick ratio of 7.57, a current ratio of 7.65 and a debt-to-equity ratio of 0.38. The company has a market cap of $1,366.71, a PE ratio of -49.63 and a beta of 1.56.

In related news, CFO Matthew C. Garrett sold 42,910 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $59.17, for a total transaction of $2,538,984.70. Following the completion of the transaction, the chief financial officer now directly owns 36,085 shares of the company’s stock, valued at $2,135,149.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vijay K. Lathi sold 225,000 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $52.10, for a total transaction of $11,722,500.00. The disclosure for this sale can be found here. Insiders sold 476,533 shares of company stock valued at $25,222,506 over the last ninety days. Corporate insiders own 23.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its holdings in Irhythm Technologies by 20.6% during the fourth quarter. Renaissance Technologies LLC now owns 244,300 shares of the company’s stock worth $13,693,000 after purchasing an additional 41,800 shares in the last quarter. Sectoral Asset Management Inc raised its holdings in Irhythm Technologies by 5.2% during the fourth quarter. Sectoral Asset Management Inc now owns 194,800 shares of the company’s stock worth $10,919,000 after purchasing an additional 9,600 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Irhythm Technologies by 1.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,016,126 shares of the company’s stock worth $56,954,000 after purchasing an additional 13,236 shares in the last quarter. Geode Capital Management LLC raised its holdings in Irhythm Technologies by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 158,418 shares of the company’s stock worth $8,879,000 after purchasing an additional 2,023 shares in the last quarter. Finally, Ascend Capital LLC raised its holdings in Irhythm Technologies by 46.4% during the fourth quarter. Ascend Capital LLC now owns 84,648 shares of the company’s stock worth $4,745,000 after purchasing an additional 26,839 shares in the last quarter. 97.76% of the stock is 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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