Irhythm Technologies (IRTC) PT Raised to $67.00

Irhythm Technologies (NASDAQ:IRTC) had its price objective boosted by JPMorgan Chase & Co. from $62.00 to $67.00 in a note issued to investors on Thursday. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 7.01% from the company’s current price.

Other analysts also recently issued research reports about the company. ValuEngine raised Irhythm Technologies from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. BidaskClub raised Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Canaccord Genuity lifted their price target on Irhythm Technologies from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Royal Bank of Canada assumed coverage on Irhythm Technologies in a research note on Monday, December 4th. They issued an “outperform” rating and a $79.00 price target on the stock. Finally, Dougherty & Co began coverage on Irhythm Technologies in a research note on Friday, December 1st. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.60.

Irhythm Technologies (NASDAQ:IRTC) traded up $1.76 on Thursday, hitting $62.61. The company’s stock had a trading volume of 436,143 shares, compared to its average volume of 230,953. Irhythm Technologies has a 1 year low of $32.10 and a 1 year high of $66.20. The firm has a market cap of $1,371.53, a P/E ratio of -46.81 and a beta of 1.56. 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 (NASDAQ:IRTC) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.13). Irhythm Technologies had a negative net margin of 29.87% and a negative return on equity of 33.67%. The firm had revenue of $28.20 million during the quarter, compared to analyst estimates of $26.79 million. During the same period in the prior year, the business earned ($0.37) EPS. The business’s revenue for the quarter was up 50.8% compared to the same quarter last year. research analysts expect that Irhythm Technologies will post -1 EPS for the current year.

In other news, CFO Matthew C. Garrett sold 42,910 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 36,085 shares in the company, valued at approximately $2,135,149.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew C. Garrett sold 1,193 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $55.00, for a total value of $65,615.00. The disclosure for this sale can be found here. Insiders sold a total of 251,533 shares of company stock valued at $13,500,006 in the last 90 days. 23.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in IRTC. Advisor Group Inc. grew its holdings in shares of Irhythm Technologies by 763.9% in the 3rd quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock valued at $151,000 after acquiring an additional 2,582 shares in the last quarter. Shaker Investments LLC OH bought a new position in shares of Irhythm Technologies in the 4th quarter valued at about $263,000. Voya Investment Management LLC bought a new position in shares of Irhythm Technologies in the 2nd quarter valued at about $274,000. GSA Capital Partners LLP bought a new position in shares of Irhythm Technologies in the 2nd quarter valued at about $289,000. Finally, Two Sigma Advisers LP bought a new position in shares of Irhythm Technologies in the 4th quarter valued at about $331,000. Institutional investors own 97.76% 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.

Analyst Recommendations for Irhythm Technologies (NASDAQ:IRTC)

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