iRhythm Technologies, Inc. (NASDAQ:IRTC) Given Average Rating … – MarketBeat
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Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $158.90.
IRTC has been the subject of a number of recent analyst reports. Needham & Company LLC lowered their target price on shares of iRhythm Technologies from $185.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, November 2nd. Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Friday, September 2nd. Wolfe Research raised shares of iRhythm Technologies from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 7th. Morgan Stanley reduced 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 report on Tuesday, October 11th. Finally, Oppenheimer reduced their price target on shares of iRhythm Technologies from $175.00 to $166.00 in a research report on Wednesday, November 2nd.
iRhythm Technologies Stock Performance
Shares of NASDAQ IRTC opened at $95.22 on Monday. The company has a market cap of $2.87 billion, a PE ratio of -22.04 and a beta of 1.41. iRhythm Technologies has a 12 month low of $90.80 and a 12 month high of $169.54. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.42 and a quick ratio of 3.25. The company has a 50-day simple moving average of $106.91 and a 200-day simple moving average of $126.35.
iRhythm Technologies (NASDAQ:IRTC – Get Rating) last released its earnings results on Tuesday, November 1st. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.19. iRhythm Technologies had a negative net margin of 33.79% and a negative return on equity of 39.31%. The firm had revenue of $103.88 million during the quarter, compared to the consensus estimate of $106.43 million. On average, equities analysts anticipate that iRhythm Technologies will post -3.82 earnings per share for the current year.
Insider Buying and Selling
In related news, COO Douglas Devine sold 2,000 shares of iRhythm Technologies stock in a transaction 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 completion of the sale, the chief operating officer now owns 27,702 shares in the company, valued at $3,462,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Douglas Devine sold 2,000 shares of iRhythm Technologies stock in a transaction 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 completion of the sale, the chief operating officer now owns 27,702 shares in the company, valued at $3,462,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Quentin S. Blackford sold 12,699 shares of iRhythm Technologies stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $122.40, for a total transaction of $1,554,357.60. Following the completion of the sale, the chief executive officer now owns 89,280 shares of the company’s stock, valued at approximately $10,927,872. The disclosure for this sale can be found here. Insiders own 1.64% of the company’s stock.
Institutional Trading of iRhythm Technologies
Institutional investors have recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in iRhythm Technologies during the second quarter valued at $281,000. Rock Springs Capital Management LP grew its position in shares of iRhythm Technologies by 0.7% during the first quarter. Rock Springs Capital Management LP now owns 436,000 shares of the company’s stock worth $68,657,000 after acquiring an additional 3,000 shares during the last quarter. Atika Capital Management LLC bought a new position in shares of iRhythm Technologies during the first quarter worth about $21,508,000. Principal Financial Group Inc. grew its position in shares of iRhythm Technologies by 2.5% during the first quarter. Principal Financial Group Inc. now owns 8,766 shares of the company’s stock worth $1,381,000 after acquiring an additional 214 shares during the last quarter. Finally, Banque Pictet & Cie SA bought a new position in shares of iRhythm Technologies during the second quarter worth about $3,423,000. Institutional investors own 98.96% of the company’s stock.
About iRhythm Technologies
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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.
Further Reading
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