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StockNews.com initiated coverage on shares of iRhythm Technologies (NASDAQ:IRTC - Get Rating) in a research note issued on Wednesday. The brokerage set a "sell" rating on the stock.
Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of iRhythm Technologies from $185.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, September 22nd. Morgan Stanley decreased their price target on shares of iRhythm Technologies from $172.00 to $165.00 and set an "overweight" rating on the stock in a research note on Tuesday. Canaccord Genuity Group raised their price target on shares of iRhythm Technologies from $185.00 to $198.00 and gave the stock a "buy" rating in a research note on Friday, September 2nd. Canaccord Genuity Group raised their price target on shares of iRhythm Technologies from $185.00 to $198.00 and gave the stock a "buy" rating in a research note on Friday, September 2nd. Finally, BTIG Research raised their price target on shares of iRhythm Technologies from $155.00 to $178.00 and gave the stock a "buy" rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.73.iRhythm Technologies Stock Performance
NASDAQ:IRTC opened at $119.69 on Wednesday. The company has a current ratio of 4.04, a quick ratio of 3.84 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $144.06 and a two-hundred day moving average price of $138.16. iRhythm Technologies has a twelve month low of $65.17 and a twelve month high of $169.54. The company has a market capitalization of $3.59 billion, a P/E ratio of -27.08 and a beta of 1.53.
iRhythm Technologies (NASDAQ:IRTC - Get Rating) last posted its earnings results on Thursday, August 4th. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.15. iRhythm Technologies had a negative net margin of 36.15% and a negative return on equity of 38.95%. The firm had revenue of $102.10 million during the quarter, compared to the consensus estimate of $100.51 million. During the same period last year, the firm posted ($0.59) EPS. The firm's revenue for the quarter was up 25.6% on a year-over-year basis. As a group, research analysts expect that iRhythm Technologies will post -3.07 earnings per share for the current fiscal year. Insider Buying and Selling
In related news, COO Douglas Devine sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the sale, the chief operating officer now directly owns 27,702 shares of the company's stock, valued at $3,462,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Douglas Devine sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the sale, the chief operating officer now directly owns 27,702 shares of the company's stock, valued at $3,462,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel G. Wilson sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $122.57, for a total transaction of $367,710.00. Following the completion of the transaction, the executive vice president now owns 34,562 shares in the company, valued at approximately $4,236,264.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,090 shares of company stock valued at $632,089. Insiders own 1.64% of the company's stock. Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the business. Verition Fund Management LLC purchased a new position in iRhythm Technologies in the second quarter valued at approximately $473,000. Captrust Financial Advisors raised its holdings in iRhythm Technologies by 92.0% in the second quarter. Captrust Financial Advisors now owns 935 shares of the company's stock valued at $101,000 after buying an additional 448 shares during the period. ExodusPoint Capital Management LP purchased a new position in iRhythm Technologies in the second quarter valued at approximately $211,000. Walleye Capital LLC purchased a new position in iRhythm Technologies in the second quarter valued at approximately $895,000. Finally, IMA Wealth Inc. purchased a new stake in shares of iRhythm Technologies during the second quarter valued at approximately $583,000. Hedge funds and other institutional investors own 98.98% of the company's stock. iRhythm Technologies Company Profile (Get Rating)
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It 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.Featured ArticlesGet a free copy of the StockNews.com research report on iRhythm Technologies (IRTC)Is Take-Two Interactive Software Inc. a Q4 Winner? 3 Oil Stocks That Are Heating Back UpIs Pfizer Stock Still Worth Buying After the Pandemic? Why All the Buzz Around These 3 Stocks?Can Texas Pacific Land Corp. Continue its Meteoric Rise?
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