BidaskClub cut shares of Irhythm Technologies (NASDAQ:IRTC) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning.
A number of other research firms have also commented on IRTC. Zacks Investment Research lowered shares of Irhythm Technologies from a hold rating to a sell rating in a research report on Wednesday, July 4th. BMO Capital Markets raised their price objective on shares of Irhythm Technologies to $93.00 and gave the company an outperform rating in a research report on Tuesday, July 10th. Chardan Capital started coverage on shares of Irhythm Technologies in a research report on Thursday, September 6th. They issued a buy rating and a $117.00 price objective for the company. JPMorgan Chase & Co. restated an overweight rating and issued a $100.00 price objective on shares of Irhythm Technologies in a research report on Thursday, August 2nd. Finally, BTIG Research restated a hold rating on shares of Irhythm Technologies in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Irhythm Technologies has an average rating of Buy and an average target price of $94.14.
Shares of NASDAQ:IRTC opened at $86.64 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.58 and a quick ratio of 5.47. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -64.76 and a beta of 1.35. Irhythm Technologies has a twelve month low of $46.95 and a twelve month high of $98.37.
Irhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Wednesday, August 1st. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.12). Irhythm Technologies had a negative net margin of 34.38% and a negative return on equity of 53.59%. The firm had revenue of $35.50 million during the quarter, compared to the consensus estimate of $32.52 million. During the same quarter last year, the business posted ($0.29) earnings per share. Irhythm Technologies’s revenue was up 48.8% compared to the same quarter last year. Analysts predict that Irhythm Technologies will post -1.91 EPS for the current fiscal year.
In other Irhythm Technologies news, insider Derrick Sung sold 10,000 shares of Irhythm Technologies stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $82.01, for a total transaction of $820,100.00. Following the completion of the sale, the insider now directly owns 26,658 shares in the company, valued at $2,186,222.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin M. King sold 60,000 shares of Irhythm Technologies stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $82.90, for a total transaction of $4,974,000.00. Following the sale, the insider now owns 282,367 shares of the company’s stock, valued at $23,408,224.30. The disclosure for this sale can be found here. Insiders sold 94,537 shares of company stock valued at $7,844,900 over the last 90 days. 5.05% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new stake in Irhythm Technologies during the second quarter valued at approximately $101,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in Irhythm Technologies during the second quarter valued at approximately $140,000. SG Americas Securities LLC bought a new stake in Irhythm Technologies during the first quarter valued at approximately $112,000. Great West Life Assurance Co. Can lifted its position in Irhythm Technologies by 119.9% during the second quarter. Great West Life Assurance Co. Can now owns 1,979 shares of the company’s stock valued at $161,000 after purchasing an additional 1,079 shares during the last quarter. Finally, United Services Automobile Association bought a new stake in Irhythm Technologies during the second quarter valued at approximately $242,000.
About Irhythm Technologies
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
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