Irhythm Technologies (NASDAQ:IRTC)‘s stock had its “hold” rating restated by investment analysts at Northland Securities in a note issued to investors on Wednesday. They currently have a $60.00 target price on the stock. Northland Securities’ price target would suggest a potential downside of 6.51% from the company’s current price.
Several other analysts have also issued reports on IRTC. Canaccord Genuity restated a “buy” rating and set a $80.00 target price (up from $68.00) on shares of Irhythm Technologies in a research report on Monday. BMO Capital Markets assumed coverage on shares of Irhythm Technologies in a research report on Monday, March 5th. They set an “outperform” rating and a $76.00 target price for the company. BidaskClub upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 22nd. JPMorgan Chase & Co. boosted their target price on shares of Irhythm Technologies from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Finally, ValuEngine upgraded shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $69.29.
Shares of Irhythm Technologies (IRTC) traded down $0.34 during mid-day trading on Wednesday, hitting $64.18. 94,327 shares of the stock were exchanged, compared to its average volume of 231,772. Irhythm Technologies has a 52-week low of $32.10 and a 52-week high of $68.07. The company has a market capitalization of $1,562.11, a price-to-earnings ratio of -49.42 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 5.64.
In other Irhythm Technologies news, CFO Matthew C. Garrett sold 42,910 shares of Irhythm Technologies 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 available through the SEC website. Also, Director Vijay K. Lathi sold 169,000 shares of Irhythm Technologies stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $62.41, for a total transaction of $10,547,290.00. The disclosure for this sale can be found here. Insiders have sold 395,362 shares of company stock valued at $25,152,594 over the last 90 days. 23.30% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. Advisor Group Inc. lifted its holdings in Irhythm Technologies by 763.9% during the third quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock valued at $151,000 after purchasing an additional 2,582 shares in the last quarter. Shaker Investments LLC OH purchased a new position in Irhythm Technologies during the fourth quarter valued at approximately $263,000. Voya Investment Management LLC purchased a new position in Irhythm Technologies during the second quarter valued at approximately $274,000. Two Sigma Advisers LP purchased a new position in Irhythm Technologies during the fourth quarter valued at approximately $331,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Irhythm Technologies by 84.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,204 shares of the company’s stock valued at $476,000 after purchasing an additional 5,124 shares in the last quarter. 98.59% of the stock is currently owned by institutional investors and hedge funds.
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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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