Irhythm Technologies (NASDAQ:IRTC)‘s stock had its “positive” rating restated by research analysts at Canaccord Genuity in a research report issued on Monday, The Fly reports. They currently have a $80.00 price target on the stock, up from their prior price target of $68.00. Canaccord Genuity’s price objective would indicate a potential upside of 19.51% from the company’s previous close.
IRTC has been the subject of several other research reports. BMO Capital Markets started coverage on shares of Irhythm Technologies in a research note on Monday, March 5th. They set an “outperform” rating and a $76.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Irhythm Technologies from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. BidaskClub raised shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. ValuEngine raised shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Dougherty & Co started coverage on shares of Irhythm Technologies in a research note on Friday, December 1st. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $70.83.
Irhythm Technologies (NASDAQ:IRTC) opened at $66.94 on Monday. The firm has a market cap of $1,569.85, a PE ratio of -51.49 and a beta of 0.98. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.72 and a quick ratio of 5.64. Irhythm Technologies has a 12 month low of $32.10 and a 12 month high of $68.07.
In related news, CFO Matthew C. Garrett sold 42,910 shares of the business’s stock in a transaction that occurred on 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 owns 36,085 shares of the company’s stock, valued at $2,135,149.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Vijay K. Lathi sold 169,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $62.41, for a total transaction of $10,547,290.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 281,344 shares of company stock valued at $17,577,239. 23.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in IRTC. Novo A S purchased a new position in Irhythm Technologies in the 4th quarter worth approximately $60,733,000. FMR LLC grew its stake in Irhythm Technologies by 382.2% in the 2nd quarter. FMR LLC now owns 1,542,886 shares of the company’s stock worth $65,557,000 after buying an additional 1,222,886 shares in the last quarter. Capital Research Global Investors grew its stake in Irhythm Technologies by 103.2% in the 2nd quarter. Capital Research Global Investors now owns 2,399,180 shares of the company’s stock worth $101,941,000 after buying an additional 1,218,580 shares in the last quarter. Franklin Resources Inc. purchased a new position in Irhythm Technologies in the 4th quarter worth approximately $31,794,000. Finally, Alliancebernstein L.P. grew its stake in Irhythm Technologies by 644.3% in the 2nd quarter. Alliancebernstein L.P. now owns 883,986 shares of the company’s stock worth $37,561,000 after buying an additional 765,218 shares in the last quarter. 98.59% of the stock is owned by institutional investors and hedge funds.
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About Irhythm Technologies
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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