Irhythm Technologies Inc (NASDAQ:IRTC) Given Average Rating of “Buy” by Analysts

Shares of Irhythm Technologies Inc (NASDAQ:IRTC) have been assigned an average recommendation of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $101.63.

IRTC has been the subject of a number of research analyst reports. BTIG Research set a $90.00 price target on Irhythm Technologies and gave the company a “buy” rating in a research report on Wednesday, July 31st. BidaskClub downgraded Irhythm Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on Irhythm Technologies from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd.

In related news, Director Merz Cathleen Noel Bairey sold 1,209 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $76.40, for a total value of $92,367.60. Following the completion of the sale, the director now owns 3,844 shares in the company, valued at approximately $293,681.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew C. Garrett sold 27,569 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $76.83, for a total value of $2,118,126.27. Following the completion of the sale, the chief financial officer now owns 29,101 shares of the company’s stock, valued at approximately $2,235,829.83. The disclosure for this sale can be found here. Insiders own 3.85% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. increased its stake in Irhythm Technologies by 40.7% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 629 shares of the company’s stock worth $50,000 after purchasing an additional 182 shares during the period. Advisor Group Inc. increased its stake in shares of Irhythm Technologies by 403.1% during the second quarter. Advisor Group Inc. now owns 805 shares of the company’s stock valued at $63,000 after buying an additional 645 shares during the period. Quantamental Technologies LLC increased its stake in shares of Irhythm Technologies by 78.5% during the first quarter. Quantamental Technologies LLC now owns 1,423 shares of the company’s stock valued at $107,000 after buying an additional 626 shares during the period. US Bancorp DE increased its stake in shares of Irhythm Technologies by 1,029.7% during the second quarter. US Bancorp DE now owns 1,446 shares of the company’s stock valued at $114,000 after buying an additional 1,318 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Irhythm Technologies by 93.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the company’s stock valued at $144,000 after buying an additional 882 shares during the period.

IRTC traded down $5.11 during trading hours on Monday, hitting $68.59. The stock had a trading volume of 212,165 shares, compared to its average volume of 352,158. The company’s fifty day simple moving average is $78.48 and its 200 day simple moving average is $78.77. Irhythm Technologies has a 1 year low of $58.99 and a 1 year high of $98.37. The stock has a market cap of $1.87 billion, a PE ratio of -36.29 and a beta of 1.72. The company has a quick ratio of 2.59, a current ratio of 2.66 and a debt-to-equity ratio of 2.53.

Irhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Wednesday, July 31st. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.02). Irhythm Technologies had a negative return on equity of 76.47% and a negative net margin of 24.45%. The company had revenue of $53.30 million during the quarter, compared to the consensus estimate of $49.89 million. During the same quarter in the prior year, the business earned ($0.51) EPS. The firm’s revenue for the quarter was up 50.1% compared to the same quarter last year. As a group, equities analysts expect that Irhythm Technologies will post -1.54 EPS for the current year.

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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