Shares of Irhythm Technologies Inc (NASDAQ:IRTC) have been assigned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $71.17.
Several analysts have recently commented on IRTC shares. Canaccord Genuity reaffirmed a “buy” rating and set a $80.00 price objective (up previously from $68.00) on shares of Irhythm Technologies in a research report on Monday. Zacks Investment Research downgraded shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. BidaskClub raised shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada started coverage on shares of Irhythm Technologies in a research report on Monday, December 4th. They set an “outperform” rating and a $79.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Irhythm Technologies from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th.
Irhythm Technologies (NASDAQ IRTC) traded down $0.35 during trading on Friday, reaching $64.17. 95,813 shares of the company’s stock traded hands, compared to its average volume of 231,779. 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 52-week low of $32.10 and a 52-week high of $68.07. The company has a market cap of $1,562.11, a price-to-earnings ratio of -49.37 and a beta of 0.98.
In related news, Director Vijay K. Lathi sold 114,018 shares of Irhythm Technologies stock in a transaction on Friday, March 9th. The shares were sold at an average price of $66.44, for a total value of $7,575,355.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew C. Garrett sold 42,910 shares of Irhythm Technologies stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 36,085 shares of the company’s stock, valued at approximately $2,135,149.45. The disclosure for this sale can be found here. In the last three months, insiders sold 395,362 shares of company stock valued at $25,152,594. 23.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. grew its position in Irhythm Technologies by 90.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 76,586 shares of the company’s stock valued at $3,974,000 after purchasing an additional 36,315 shares during the period. Shaker Investments LLC OH purchased a new position in Irhythm Technologies during the 4th quarter worth $263,000. Northern Trust Corp boosted its holdings in Irhythm Technologies by 75.7% during the 2nd quarter. Northern Trust Corp now owns 158,910 shares of the company’s stock worth $6,752,000 after acquiring an additional 68,477 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Irhythm Technologies by 21.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 737,271 shares of the company’s stock worth $38,250,000 after acquiring an additional 130,217 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Irhythm Technologies by 9,692.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 313,371 shares of the company’s stock worth $16,220,000 after acquiring an additional 310,171 shares during the last quarter. 98.59% of the stock is owned by institutional investors and hedge funds.
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Irhythm Technologies Company Profile
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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