Irhythm Technologies (IRTC) – Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Irhythm Technologies (NASDAQ: IRTC):

  • 4/18/2019 – Irhythm Technologies was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “iRhythm Technologies, Inc. is a digital healthcare company. It focuses on the provision of ambulatory electrocardiogram, monitoring for patients at risk for arrhythmias primarily in the United States. The company offers ZIO Service, a platform which provides wearable biosensor with cloud-based data analytics that distill data from heartbeats into clinically actionable information. iRhythm Technologies, Inc. is headquartered in San Francisco, California. “
  • 4/17/2019 – Irhythm Technologies was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $78.00 price target on the stock. According to Zacks, “iRhythm Technologies, Inc. is a digital healthcare company. It focuses on the provision of ambulatory electrocardiogram, monitoring for patients at risk for arrhythmias primarily in the United States. The company offers ZIO Service, a platform which provides wearable biosensor with cloud-based data analytics that distill data from heartbeats into clinically actionable information. iRhythm Technologies, Inc. is headquartered in San Francisco, California. “
  • 4/3/2019 – Irhythm Technologies was upgraded by analysts at BTIG Research from a “neutral” rating to a “buy” rating. They now have a $80.00 price target on the stock.
  • 3/29/2019 – Irhythm Technologies was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 3/9/2019 – Irhythm Technologies was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 2/20/2019 – Irhythm Technologies was downgraded by analysts at Chardan Capital from a “buy” rating to a “neutral” rating. They now have a $104.00 price target on the stock, down previously from $111.00.

NASDAQ:IRTC traded up $0.51 during trading hours on Friday, reaching $68.92. The company’s stock had a trading volume of 517,907 shares, compared to its average volume of 485,884. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -36.47 and a beta of 1.72. Irhythm Technologies Inc has a 12 month low of $55.18 and a 12 month high of $98.37. The company has a quick ratio of 3.45, a current ratio of 3.52 and a debt-to-equity ratio of 0.64.

Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Tuesday, February 12th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.03). The business had revenue of $43.16 million during the quarter, compared to the consensus estimate of $40.21 million. Irhythm Technologies had a negative return on equity of 69.79% and a negative net margin of 32.78%. The business’s quarterly revenue was up 53.2% on a year-over-year basis. During the same period last year, the firm earned ($0.48) EPS. On average, sell-side analysts expect that Irhythm Technologies Inc will post -1.65 EPS for the current year.

In related news, 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 value of $1,820,290.30. Following the completion of the sale, the chief financial officer now directly owns 40,407 shares in the company, valued at $3,640,670.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kevin M. King sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $88.76, for a total transaction of $5,325,600.00. The disclosure for this sale can be found here. In the last three months, insiders sold 117,891 shares of company stock valued at $10,558,098. Company insiders own 5.05% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in shares of Irhythm Technologies by 28.9% in the 3rd quarter. Morgan Stanley now owns 293,511 shares of the company’s stock valued at $27,783,000 after purchasing an additional 65,801 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Irhythm Technologies during the 4th quarter worth about $4,112,000. Prudential Financial Inc. acquired a new position in shares of Irhythm Technologies during the 3rd quarter worth about $226,000. Vanguard Group Inc raised its holdings in Irhythm Technologies by 54.0% in the 3rd quarter. Vanguard Group Inc now owns 1,350,269 shares of the company’s stock valued at $127,816,000 after acquiring an additional 473,235 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in Irhythm Technologies by 2.6% in the 4th quarter. Lord Abbett & CO. LLC now owns 738,676 shares of the company’s stock valued at $51,323,000 after acquiring an additional 18,488 shares during the last quarter.

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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