Irhythm Technologies Inc (NASDAQ:IRTC) has earned a consensus rating of “Buy” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $131.71.
IRTC has been the subject of several research analyst reports. BidaskClub lowered shares of Irhythm Technologies from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Morgan Stanley lifted their target price on shares of Irhythm Technologies from $114.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Zacks Investment Research upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating and set a $138.00 target price for the company in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Irhythm Technologies from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Oppenheimer reiterated a “hold” rating on shares of Irhythm Technologies in a research report on Friday, May 8th.
In other news, CEO Kevin M. King sold 72,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $125.62, for a total value of $9,044,640.00. Following the completion of the sale, the chief executive officer now directly owns 240,674 shares in the company, valued at approximately $30,233,467.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ralph Snyderman sold 250 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $134.55, for a total transaction of $33,637.50. Following the completion of the sale, the director now owns 4,256 shares of the company’s stock, valued at $572,644.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,090 shares of company stock valued at $17,353,844. Company insiders own 3.85% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Waddell & Reed Financial Inc. lifted its holdings in shares of Irhythm Technologies by 10.9% in the 1st quarter. Waddell & Reed Financial Inc. now owns 299,026 shares of the company’s stock worth $24,326,000 after acquiring an additional 29,484 shares during the last quarter. Advisor Group Holdings Inc. bought a new stake in Irhythm Technologies during the 1st quarter valued at $149,000. Invesco Ltd. raised its holdings in Irhythm Technologies by 141.5% during the 1st quarter. Invesco Ltd. now owns 862,234 shares of the company’s stock valued at $70,142,000 after buying an additional 505,219 shares during the last quarter. Weiss Multi Strategy Advisers LLC raised its holdings in Irhythm Technologies by 57.1% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 15,708 shares of the company’s stock valued at $1,278,000 after buying an additional 5,708 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Irhythm Technologies by 38.9% during the 1st quarter. Morgan Stanley now owns 292,338 shares of the company’s stock valued at $23,781,000 after buying an additional 81,895 shares during the last quarter.
Shares of NASDAQ:IRTC opened at $126.61 on Wednesday. The company has a 50 day moving average of $101.93 and a 200 day moving average of $83.23. Irhythm Technologies has a 12 month low of $56.24 and a 12 month high of $136.55. The company has a quick ratio of 3.51, a current ratio of 3.60 and a debt-to-equity ratio of 0.92.
Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.23. The company had revenue of $63.50 million during the quarter, compared to analysts’ expectations of $61.40 million. Irhythm Technologies had a negative net margin of 24.34% and a negative return on equity of 49.99%. Irhythm Technologies’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.33) earnings per share. On average, research analysts expect that Irhythm Technologies will post -2.23 earnings per share for the current fiscal year.
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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