Canaccord Genuity reissued their buy rating on shares of Irhythm Technologies (NASDAQ:IRTC) in a research report report published on Monday. The firm currently has a $80.00 price target on the stock, up from their previous price target of $68.00.
Several other analysts also recently commented on the stock. Royal Bank of Canada started coverage on shares of Irhythm Technologies in a report on Monday, December 4th. They issued an outperform rating and a $79.00 target price for the company. Zacks Investment Research downgraded shares of Irhythm Technologies from a hold rating to a sell rating in a report on Wednesday, January 3rd. BidaskClub upgraded shares of Irhythm Technologies from a hold rating to a buy rating in a report on Friday, January 5th. Dougherty & Co started coverage on shares of Irhythm Technologies in a report on Friday, December 1st. They issued a neutral rating for the company. Finally, ValuEngine upgraded shares of Irhythm Technologies from a sell rating to a hold rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Irhythm Technologies presently has a consensus rating of Buy and an average price target of $70.83.
Shares of Irhythm Technologies (IRTC) opened at $66.61 on Monday. The company has a current ratio of 5.72, a quick ratio of 5.64 and a debt-to-equity ratio of 0.41. Irhythm Technologies has a 1-year low of $32.10 and a 1-year high of $68.07.
In related news, Director Vijay K. Lathi sold 169,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $62.41, for a total transaction of $10,547,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David A. Vort sold 935 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $67.01, for a total transaction of $62,654.35. Following the sale, the executive vice president now owns 22,221 shares of the company’s stock, valued at approximately $1,489,029.21. The disclosure for this sale can be found here. Insiders have sold 395,362 shares of company stock valued at $25,152,594 in the last 90 days. 23.30% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of IRTC. JPMorgan Chase & Co. increased its holdings in Irhythm Technologies by 9,692.8% during the third quarter. JPMorgan Chase & Co. now owns 313,371 shares of the company’s stock worth $16,220,000 after buying an additional 310,171 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in Irhythm Technologies during the fourth quarter worth about $15,385,000. Citadel Advisors LLC increased its holdings in Irhythm Technologies by 84.1% during the fourth quarter. Citadel Advisors LLC now owns 594,494 shares of the company’s stock worth $33,321,000 after buying an additional 271,543 shares during the last quarter. Redmile Group LLC increased its holdings in Irhythm Technologies by 47.6% during the fourth quarter. Redmile Group LLC now owns 814,574 shares of the company’s stock worth $45,657,000 after buying an additional 262,533 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Irhythm Technologies by 67.0% during the third quarter. Wells Fargo & Company MN now owns 609,187 shares of the company’s stock worth $31,604,000 after buying an additional 244,411 shares during the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.
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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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