Irhythm Technologies (NASDAQ:IRTC)‘s stock had its “hold” rating reaffirmed by equities researchers at Northland Securities in a report issued on Wednesday. They presently have a $60.00 price objective on the stock. Northland Securities’ target price would indicate a potential downside of 6.51% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. BMO Capital Markets started coverage on shares of Irhythm Technologies in a report on Monday, March 5th. They set an “outperform” rating and a $76.00 price target for the company. ValuEngine raised shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Dougherty & Co started coverage on shares of Irhythm Technologies in a report on Friday, December 1st. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Irhythm Technologies from $62.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $69.29.
Irhythm Technologies (NASDAQ IRTC) traded down $0.34 during mid-day trading on Wednesday, reaching $64.18. 94,327 shares of the company’s stock traded hands, compared to its average volume of 231,772. The company has a current ratio of 5.72, a quick ratio of 5.64 and a debt-to-equity ratio of 0.41. Irhythm Technologies has a 12-month low of $32.10 and a 12-month high of $68.07. The company has a market capitalization of $1,562.11, a price-to-earnings ratio of -49.42 and a beta of 0.98.
In other news, CFO Matthew C. Garrett sold 42,910 shares of the business’s stock in a transaction 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 accessible through this hyperlink. Also, EVP David A. Vort sold 935 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $67.01, for a total transaction of $62,654.35. Following the transaction, the executive vice president now directly owns 22,221 shares of the company’s stock, valued at approximately $1,489,029.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 395,362 shares of company stock valued at $25,152,594. Corporate insiders own 23.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of IRTC. Novo A S acquired a new stake in Irhythm Technologies in the fourth quarter worth about $60,733,000. FMR LLC lifted its holdings in Irhythm Technologies by 382.2% in the second quarter. FMR LLC now owns 1,542,886 shares of the company’s stock worth $65,557,000 after purchasing an additional 1,222,886 shares during the period. Capital Research Global Investors lifted its holdings in Irhythm Technologies by 103.2% in the second quarter. Capital Research Global Investors now owns 2,399,180 shares of the company’s stock worth $101,941,000 after purchasing an additional 1,218,580 shares during the period. Franklin Resources Inc. acquired a new stake in Irhythm Technologies in the fourth quarter worth about $31,794,000. Finally, Alliancebernstein L.P. lifted its holdings in Irhythm Technologies by 644.3% in the second quarter. Alliancebernstein L.P. now owns 883,986 shares of the company’s stock worth $37,561,000 after purchasing an additional 765,218 shares during the period. 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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