Shares of Irhythm Technologies Inc (NASDAQ:IRTC) have received a consensus rating of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $98.50.
A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of Irhythm Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 9th. Canaccord Genuity raised their price target on shares of Irhythm Technologies from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, January 11th. BMO Capital Markets raised their price target on shares of Irhythm Technologies from $96.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, February 13th. BTIG Research reissued a “hold” rating on shares of Irhythm Technologies in a research report on Wednesday, February 13th. Finally, Royal Bank of Canada raised their price objective on shares of Irhythm Technologies to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, February 13th.
In related news, EVP Derrick Sung sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $84.00, for a total transaction of $168,000.00. Following the completion of the transaction, the executive vice president now owns 27,258 shares of the company’s stock, valued at $2,289,672. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Matthew C. Garrett sold 20,203 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $90.10, for a total transaction of $1,820,290.30. Following the transaction, the chief financial officer now directly owns 40,407 shares of the company’s stock, valued at approximately $3,640,670.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,891 shares of company stock valued at $10,558,098. 5.05% of the stock is owned by corporate insiders.
NASDAQ IRTC opened at $68.92 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.52 and a quick ratio of 3.45. Irhythm Technologies has a twelve month low of $55.18 and a twelve month high of $98.37. The stock has a market capitalization of $1.69 billion, a P/E ratio of -36.47 and a beta of 1.72.
Irhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Tuesday, February 12th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.03). Irhythm Technologies had a negative return on equity of 69.79% and a negative net margin of 32.78%. The firm had revenue of $43.16 million for the quarter, compared to analyst estimates of $40.21 million. During the same quarter in the prior year, the firm earned ($0.48) earnings per share. The firm’s revenue for the quarter was up 53.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Irhythm Technologies will post -1.65 earnings per share for the current 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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