Northland Securities reaffirmed their hold rating on shares of Irhythm Technologies (NASDAQ:IRTC) in a research note issued to investors on Wednesday morning. Northland Securities currently has a $60.00 price target on the stock.
IRTC has been the topic of several other reports. BidaskClub lowered shares of Irhythm Technologies from a hold rating to a sell rating in a report on Thursday, December 14th. BMO Capital Markets began coverage on shares of Irhythm Technologies in a report on Monday, March 5th. They issued an outperform rating and a $76.00 target price on the stock. ValuEngine upgraded shares of Irhythm Technologies from a sell rating to a hold rating in a report on Friday, February 2nd. Dougherty & Co began coverage on shares of Irhythm Technologies in a report on Friday, December 1st. They issued a neutral rating on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Irhythm Technologies from $62.00 to $67.00 and gave the stock an overweight rating in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $69.29.
Irhythm Technologies (NASDAQ:IRTC) traded down $0.37 on Wednesday, reaching $63.77. 17,691 shares of the company’s stock traded hands, compared to its average volume of 228,599. The company has a current ratio of 5.72, a quick ratio of 5.64 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1,513.09, a price-to-earnings ratio of -49.41 and a beta of 0.98. Irhythm Technologies has a 12 month low of $32.10 and a 12 month high of $68.07.
Irhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Wednesday, February 14th. The company reported ($0.48) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.13). The firm had revenue of $28.20 million during the quarter, compared to analyst estimates of $26.79 million. Irhythm Technologies had a negative return on equity of 34.44% and a negative net margin of 29.87%. The company’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.37) earnings per share. research analysts forecast that Irhythm Technologies will post -1.54 earnings per share for the current fiscal year.
In related news, Director Vijay K. Lathi sold 114,018 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $66.44, for a total transaction of $7,575,355.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David A. Vort sold 935 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $67.01, for a total transaction of $62,654.35. Following the sale, the executive vice president now owns 22,221 shares in the company, valued at $1,489,029.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 395,362 shares of company stock worth $25,152,594. 23.30% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of IRTC. Advisor Group Inc. raised its holdings in shares of Irhythm Technologies by 763.9% during the third quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock worth $151,000 after acquiring an additional 2,582 shares during the period. Shaker Investments LLC OH acquired a new stake in shares of Irhythm Technologies during the fourth quarter worth $263,000. Voya Investment Management LLC acquired a new stake in shares of Irhythm Technologies during the second quarter worth $274,000. Two Sigma Advisers LP bought a new position in Irhythm Technologies in the fourth quarter valued at $331,000. Finally, The Manufacturers Life Insurance Company grew its position in Irhythm Technologies by 84.3% in the second quarter. The Manufacturers Life Insurance Company now owns 11,204 shares of the company’s stock valued at $476,000 after purchasing an additional 5,124 shares in the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.
Irhythm Technologies Company Profile
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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