Irhythm Technologies (NASDAQ:IRTC) Given a $90.00 Price Target at BTIG Research

BTIG Research set a $90.00 target price on Irhythm Technologies (NASDAQ:IRTC) in a research note issued to investors on Wednesday morning, TipRanks reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Irhythm Technologies from $110.00 to $125.00 and gave the stock an overweight rating in a research report on Thursday. Zacks Investment Research cut shares of Irhythm Technologies from a buy rating to a hold rating in a research report on Wednesday, July 10th. Finally, BidaskClub cut shares of Irhythm Technologies from a buy rating to a hold rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $99.00.

Shares of NASDAQ:IRTC traded down $5.04 on Wednesday, hitting $76.23. The company had a trading volume of 683,815 shares, compared to its average volume of 415,724. The stock’s 50-day moving average is $79.81. Irhythm Technologies has a 1 year low of $58.99 and a 1 year high of $98.37. The company has a quick ratio of 3.18, a current ratio of 3.27 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -40.58 and a beta of 1.72.

Irhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Wednesday, July 31st. The company reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.02). Irhythm Technologies had a negative return on equity of 71.31% and a negative net margin of 27.56%. The company had revenue of $53.30 million during the quarter, compared to analysts’ expectations of $49.89 million. During the same period in the prior year, the business posted ($0.51) earnings per share. The company’s revenue for the quarter was up 50.1% on a year-over-year basis. As a group, research analysts forecast that Irhythm Technologies will post -1.53 EPS for the current fiscal year.

In other Irhythm Technologies news, insider Kevin M. King sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $70.00, for a total transaction of $4,200,000.00. Following the completion of the sale, the insider now directly owns 212,400 shares in the company, valued at approximately $14,868,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Merz Cathleen Noel Bairey sold 1,209 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $76.40, for a total transaction of $92,367.60. Following the sale, the director now owns 3,844 shares of the company’s stock, valued at $293,681.60. The disclosure for this sale can be found here. 3.85% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Advisor Group Inc. grew its stake in shares of Irhythm Technologies by 403.1% in the second quarter. Advisor Group Inc. now owns 805 shares of the company’s stock worth $63,000 after acquiring an additional 645 shares during the period. Quantamental Technologies LLC grew its stake in shares of Irhythm Technologies by 78.5% in the first quarter. Quantamental Technologies LLC now owns 1,423 shares of the company’s stock worth $107,000 after acquiring an additional 626 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Irhythm Technologies by 93.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the company’s stock worth $144,000 after acquiring an additional 882 shares during the period. Rehmann Capital Advisory Group grew its stake in shares of Irhythm Technologies by 2,617.6% in the first quarter. Rehmann Capital Advisory Group now owns 2,935 shares of the company’s stock worth $220,000 after acquiring an additional 2,827 shares during the period. Finally, United Services Automobile Association grew its stake in shares of Irhythm Technologies by 15.3% in the fourth quarter. United Services Automobile Association now owns 3,444 shares of the company’s stock worth $239,000 after acquiring an additional 458 shares during the period.

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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Analyst Recommendations for Irhythm Technologies (NASDAQ:IRTC)

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