Irhythm Technologies (NASDAQ:IRTC) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Irhythm Technologies (NASDAQ:IRTC) from a hold rating to a buy rating in a research report report published on Friday morning, BidAskClub reports.

IRTC has been the topic of a number of other research reports. BTIG Research cut shares of GTT Communications from a buy rating to a neutral rating in a report on Wednesday, May 8th. Zacks Investment Research cut shares of ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Irhythm Technologies currently has a consensus rating of Buy and an average target price of $97.33.

Irhythm Technologies stock opened at $80.36 on Friday. Irhythm Technologies has a 52 week low of $58.99 and a 52 week high of $98.37. The business’s 50 day moving average price is $76.10. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.18 and a current ratio of 3.27. The company has a market cap of $1.98 billion, a PE ratio of -42.52 and a beta of 1.72.

Irhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Tuesday, May 7th. The company reported ($0.33) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.17. The firm had revenue of $47.21 million for the quarter, compared to analysts’ expectations of $43.83 million. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 71.31%. The company’s quarterly revenue was up 54.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.47) EPS. As a group, sell-side analysts expect that Irhythm Technologies will post -1.53 EPS for the current fiscal year.

In related news, Director Merz Cathleen Noel Bairey sold 1,209 shares of Irhythm Technologies stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $76.40, for a total value of $92,367.60. Following the completion of the transaction, the director now directly owns 3,844 shares in the company, valued at approximately $293,681.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin M. King sold 60,000 shares of Irhythm Technologies stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $70.00, for a total transaction of $4,200,000.00. Following the completion of the transaction, the insider now owns 212,400 shares of the company’s stock, valued at $14,868,000. The disclosure for this sale can be found here. Insiders own 3.85% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in IRTC. PNC Financial Services Group Inc. grew its stake in Irhythm Technologies by 38.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,278 shares of the company’s stock valued at $89,000 after buying an additional 358 shares in the last quarter. Quantamental Technologies LLC grew its position in shares of Irhythm Technologies by 78.5% during the 1st quarter. Quantamental Technologies LLC now owns 1,423 shares of the company’s stock valued at $107,000 after purchasing an additional 626 shares in the last quarter. Rehmann Capital Advisory Group grew its position in shares of Irhythm Technologies by 2,617.6% during the 1st quarter. Rehmann Capital Advisory Group now owns 2,935 shares of the company’s stock valued at $220,000 after purchasing an additional 2,827 shares in the last quarter. United Services Automobile Association grew its position in shares of Irhythm Technologies by 15.3% during the 4th quarter. United Services Automobile Association now owns 3,444 shares of the company’s stock valued at $239,000 after purchasing an additional 458 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Irhythm Technologies during the 4th quarter valued at $246,000.

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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