Irhythm Technologies (NASDAQ:IRTC) PT Raised to $125.00

Irhythm Technologies (NASDAQ:IRTC) had its price target upped by JPMorgan Chase & Co. from $110.00 to $125.00 in a research report report published on Thursday, The Fly reports. They currently have an overweight rating on the stock.

IRTC has been the topic of several other research reports. BTIG Research boosted their price target on shares of Irhythm Technologies to $90.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. Zacks Investment Research cut shares of Irhythm Technologies from a buy rating to a hold rating in a research note on Wednesday, July 10th. Finally, BidaskClub cut shares of Irhythm Technologies from a buy rating to a hold rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Irhythm Technologies currently has a consensus rating of Hold and a consensus price target of $99.00.

Shares of IRTC traded down $5.04 during trading hours on Thursday, reaching $76.23. 645,057 shares of the stock traded hands, compared to its average volume of 415,724. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.18 and a current ratio of 3.27. Irhythm Technologies has a 52-week low of $58.99 and a 52-week high of $98.37. The company’s 50-day simple moving average is $79.78. The company has a market capitalization of $1.98 billion, a P/E ratio of -40.33 and a beta of 1.72.

Irhythm Technologies (NASDAQ:IRTC) last released its earnings results on Wednesday, July 31st. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 71.31%. The firm had revenue of $53.30 million for the quarter, compared to analysts’ expectations of $49.89 million. During the same quarter last year, the firm posted ($0.51) EPS. The firm’s quarterly revenue was up 50.1% compared to the same quarter last year. Equities research analysts expect that Irhythm Technologies will post -1.53 earnings per share for the current fiscal year.

In other news, Director Merz Cathleen Noel Bairey sold 1,209 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $76.40, for a total value of $92,367.60. Following the sale, the director now directly owns 3,844 shares in the company, valued at approximately $293,681.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kevin M. King sold 60,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was 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 owns 212,400 shares in the company, valued at $14,868,000. The disclosure for this sale can be found here. Insiders own 3.85% of the company’s stock.

Several institutional investors have recently bought and sold shares of IRTC. Norges Bank bought a new position in Irhythm Technologies during the 4th quarter valued at about $46,416,000. TimesSquare Capital Management LLC grew its holdings in Irhythm Technologies by 48.6% during the 2nd quarter. TimesSquare Capital Management LLC now owns 590,825 shares of the company’s stock valued at $46,722,000 after purchasing an additional 193,300 shares during the last quarter. FMR LLC grew its holdings in Irhythm Technologies by 7.6% during the 1st quarter. FMR LLC now owns 1,580,865 shares of the company’s stock valued at $118,502,000 after purchasing an additional 111,643 shares during the last quarter. Macquarie Group Ltd. bought a new position in Irhythm Technologies during the 4th quarter valued at about $6,862,000. Finally, GAM Holding AG bought a new position in Irhythm Technologies during the 1st quarter valued at about $2,952,000.

Irhythm Technologies Company Profile

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.

See Also: Why do analysts give a neutral rating?

The Fly

Analyst Recommendations for Irhythm Technologies (NASDAQ:IRTC)

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