Irhythm Technologies (NASDAQ:IRTC) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Irhythm Technologies (NASDAQ:IRTC) from a strong sell rating to a sell rating in a research report released on Saturday, BidAskClub reports.

IRTC has been the topic of a number of other reports. Oppenheimer began coverage on Irhythm Technologies in a research report on Tuesday, October 22nd. They set a market perform rating on the stock. SunTrust Banks began coverage on Irhythm Technologies in a research report on Tuesday, January 7th. They set a buy rating and a $102.00 target price on the stock. Canaccord Genuity reissued a buy rating and set a $107.00 target price on shares of Irhythm Technologies in a research report on Tuesday, December 24th. ValuEngine raised Irhythm Technologies from a hold rating to a buy rating in a research report on Tuesday, December 31st. Finally, William Blair began coverage on Irhythm Technologies in a research report on Thursday, January 9th. They set an outperform rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $101.00.

Irhythm Technologies stock opened at $79.98 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.99 and a current ratio of 4.07. The business’s 50-day simple moving average is $68.55 and its 200-day simple moving average is $72.71. The firm has a market capitalization of $2.00 billion, a PE ratio of -42.32 and a beta of 1.68. Irhythm Technologies has a 52 week low of $56.24 and a 52 week high of $98.13.

Irhythm Technologies (NASDAQ:IRTC) last released its earnings results on Tuesday, November 5th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.34). Irhythm Technologies had a negative return on equity of 67.44% and a negative net margin of 26.45%. The firm had revenue of $55.96 million for the quarter, compared to analyst estimates of $53.76 million. During the same period last year, the business earned ($0.43) earnings per share. The firm’s quarterly revenue was up 46.9% compared to the same quarter last year. Research analysts forecast that Irhythm Technologies will post -2.04 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Irhythm Technologies by 40.7% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 629 shares of the company’s stock valued at $50,000 after purchasing an additional 182 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in Irhythm Technologies by 2.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 8,009 shares of the company’s stock valued at $594,000 after purchasing an additional 226 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Irhythm Technologies by 3.6% during the third quarter. Envestnet Asset Management Inc. now owns 7,400 shares of the company’s stock valued at $548,000 after purchasing an additional 255 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Irhythm Technologies by 1.2% during the third quarter. California State Teachers Retirement System now owns 38,542 shares of the company’s stock valued at $2,856,000 after purchasing an additional 440 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Irhythm Technologies by 14.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 4,445 shares of the company’s stock valued at $330,000 after purchasing an additional 557 shares in the last quarter.

Irhythm Technologies Company Profile

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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Analyst Recommendations for Irhythm Technologies (NASDAQ:IRTC)

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