Irhythm Technologies Inc (NASDAQ:IRTC) has earned an average recommendation of “Buy” from the nine analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $69.20.
Several analysts have issued reports on the stock. BidaskClub downgraded shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. BMO Capital Markets assumed coverage on shares of Irhythm Technologies in a report on Monday, March 5th. They issued an “outperform” rating and a $76.00 price target on the stock. ValuEngine raised shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Dougherty & Co assumed coverage on shares of Irhythm Technologies in a research note on Friday, December 1st. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Irhythm Technologies from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th.
In related news, CFO Matthew C. Garrett sold 42,910 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $59.17, for a total transaction of $2,538,984.70. Following the transaction, the chief financial officer now owns 36,085 shares of the company’s stock, valued at $2,135,149.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David A. Vort sold 935 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $67.01, for a total transaction of $62,654.35. Following the transaction, the executive vice president now directly owns 22,221 shares in the company, valued at approximately $1,489,029.21. The disclosure for this sale can be found here. Insiders have sold 281,344 shares of company stock worth $17,577,239 in the last three months. Insiders own 23.30% of the company’s stock.
Shares of Irhythm Technologies (NASDAQ IRTC) opened at $66.94 on Friday. Irhythm Technologies has a fifty-two week low of $32.10 and a fifty-two week high of $68.07. The stock has a market cap of $1,569.88, a PE ratio of -51.49 and a beta of 0.98. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.72 and a quick ratio of 7.57.
Irhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.13). Irhythm Technologies had a negative net margin of 29.87% and a negative return on equity of 34.44%. The business had revenue of $28.20 million during the quarter, compared to analysts’ expectations of $26.79 million. During the same period last year, the company earned ($0.37) EPS. The firm’s revenue for the quarter was up 50.8% on a year-over-year basis. equities research analysts expect that Irhythm Technologies will post -1.53 EPS for the current fiscal year.
About Irhythm Technologies
iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.
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