Irhythm Technologies (IRTC) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Irhythm Technologies (NASDAQ:IRTC) from a sell rating to a hold rating in a research report released on Thursday, BidAskClub reports.

A number of other equities research analysts have also weighed in on the company. Canaccord Genuity lifted their price objective on Irhythm Technologies from $84.00 to $90.00 and gave the company a buy rating in a report on Friday, January 11th. BTIG Research raised Irhythm Technologies from a neutral rating to a buy rating and set a $80.00 price objective on the stock in a report on Wednesday, April 3rd. BMO Capital Markets lifted their price objective on Irhythm Technologies from $96.00 to $105.00 and gave the company an outperform rating in a report on Wednesday, February 13th. Zacks Investment Research raised Irhythm Technologies from a hold rating to a buy rating and set a $78.00 price objective on the stock in a report on Wednesday, April 17th. Finally, Royal Bank of Canada lifted their price objective on Irhythm Technologies to $109.00 and gave the company an outperform rating in a report on Wednesday, February 13th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $96.22.

Shares of IRTC opened at $76.86 on Thursday. Irhythm Technologies has a twelve month low of $55.18 and a twelve month high of $98.37. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -40.67 and a beta of 1.72. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.45 and a current ratio of 3.52.

Irhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Tuesday, February 12th. The company reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.03). Irhythm Technologies had a negative net margin of 32.78% and a negative return on equity of 69.79%. The business had revenue of $43.16 million during the quarter, compared to analysts’ expectations of $40.21 million. During the same period in the prior year, the firm posted ($0.48) EPS. Irhythm Technologies’s revenue for the quarter was up 53.2% compared to the same quarter last year. Analysts expect that Irhythm Technologies will post -1.65 EPS for the current year.

In other news, insider Kevin M. King sold 60,000 shares of Irhythm Technologies stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $88.76, for a total transaction of $5,325,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew C. Garrett sold 20,203 shares of Irhythm Technologies stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $90.10, for a total transaction of $1,820,290.30. Following the sale, the chief financial officer now owns 40,407 shares of the company’s stock, valued at $3,640,670.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,823 shares of company stock valued at $9,796,023. Insiders own 5.05% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC acquired a new stake in shares of Irhythm Technologies during the 4th quarter valued at approximately $55,000. Pearl River Capital LLC acquired a new stake in shares of Irhythm Technologies during the 4th quarter valued at approximately $66,000. Bank of Montreal Can lifted its position in shares of Irhythm Technologies by 574.7% during the 4th quarter. Bank of Montreal Can now owns 1,120 shares of the company’s stock valued at $78,000 after acquiring an additional 954 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Irhythm Technologies by 38.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,278 shares of the company’s stock valued at $89,000 after acquiring an additional 358 shares during the period. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of Irhythm Technologies during the 3rd quarter valued at approximately $160,000.

Irhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company 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.

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Analyst Recommendations for Irhythm Technologies (NASDAQ:IRTC)

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