Irhythm Technologies Inc (IRTC) Rating Increased to Hold at Zacks Investment Research

Irhythm Technologies Inc (NASDAQ:IRTC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “iRhythm Technologies, Inc. is a digital healthcare company. It focuses on the provision of ambulatory electrocardiogram, monitoring for patients at risk for arrhythmias primarily in the United States. The company offers ZIO Service, a platform which provides wearable biosensor with cloud-based data analytics that distill data from heartbeats into clinically actionable information. iRhythm Technologies, Inc. is headquartered in San Francisco, California. “

Separately, Canaccord Genuity reissued a “buy” rating and issued a $40.00 target price on shares of Irhythm Technologies in a research note on Monday, April 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $32.50.

Irhythm Technologies (NASDAQ:IRTC) opened at 33.56 on Wednesday. Irhythm Technologies has a 12 month low of $22.16 and a 12 month high of $40.48. The company’s 50-day moving average is $35.92 and its 200-day moving average is $31.56. The stock’s market capitalization is $743.42 million.

Irhythm Technologies (NASDAQ:IRTC) last released its earnings results on Wednesday, February 15th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.28) by $0.09. The company had revenue of $18.70 million for the quarter, compared to analyst estimates of $17.33 million. Equities analysts anticipate that Irhythm Technologies will post ($1.17) earnings per share for the current year.

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Institutional investors have recently added to or reduced their stakes in the stock. Novo A S purchased a new position in Irhythm Technologies during the fourth quarter valued at $60,733,000. Franklin Resources Inc. purchased a new position in Irhythm Technologies during the fourth quarter valued at $31,794,000. Columbia Wanger Asset Management LLC purchased a new position in Irhythm Technologies during the fourth quarter valued at $16,615,000. FMR LLC purchased a new position in Irhythm Technologies during the fourth quarter valued at $13,200,000. Finally, Perceptive Advisors LLC purchased a new position in Irhythm Technologies during the fourth quarter valued at $10,567,000. 3.65% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:IRTC

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