Irhythm Technologies (IRTC) Research Coverage Started at Dougherty & Co

Dougherty & Co began coverage on shares of Irhythm Technologies (NASDAQ:IRTC) in a research report report published on Friday, MarketBeat Ratings reports. The brokerage issued a neutral rating on the stock.

IRTC has been the topic of a number of other reports. Zacks Investment Research raised Irhythm Technologies from a sell rating to a hold rating in a report on Wednesday, August 30th. Canaccord Genuity lifted their target price on Irhythm Technologies from $55.00 to $59.00 and gave the stock a buy rating in a report on Thursday, November 2nd. ValuEngine upgraded Irhythm Technologies from a sell rating to a hold rating in a research report on Saturday, October 21st. Finally, Morgan Stanley increased their price target on Irhythm Technologies from $50.00 to $65.00 and gave the company an overweight rating in a research report on Friday, November 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $65.25.

Irhythm Technologies (IRTC) traded down $2.15 during trading hours on Friday, reaching $53.35. The company had a trading volume of 263,400 shares, compared to its average volume of 263,114. Irhythm Technologies has a 1 year low of $24.25 and a 1 year high of $57.90. The company has a current ratio of 7.65, a quick ratio of 7.57 and a debt-to-equity ratio of 0.38.

Irhythm Technologies (NASDAQ:IRTC) last released its earnings results on Wednesday, November 1st. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.05. The firm had revenue of $25.04 million for the quarter, compared to analyst estimates of $24.30 million. Irhythm Technologies had a negative return on equity of 27.67% and a negative net margin of 27.56%. Irhythm Technologies’s revenue was up 49.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.80) earnings per share. sell-side analysts anticipate that Irhythm Technologies will post -1.17 earnings per share for the current fiscal year.

In other news, Director Vijay K. Lathi sold 225,000 shares of Irhythm Technologies stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $52.10, for a total transaction of $11,722,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin M. King sold 60,000 shares of Irhythm Technologies stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $51.85, for a total value of $3,111,000.00. Following the sale, the insider now owns 103,042 shares of the company’s stock, valued at $5,342,727.70. The disclosure for this sale can be found here. Insiders sold a total of 337,362 shares of company stock valued at $17,403,035 in the last quarter. 23.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Capital Research Global Investors lifted its holdings in shares of Irhythm Technologies by 103.2% during the 2nd quarter. Capital Research Global Investors now owns 2,399,180 shares of the company’s stock valued at $101,941,000 after buying an additional 1,218,580 shares during the last quarter. FMR LLC lifted its holdings in shares of Irhythm Technologies by 382.2% during the 2nd quarter. FMR LLC now owns 1,542,886 shares of the company’s stock valued at $65,557,000 after buying an additional 1,222,886 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Irhythm Technologies by 5.0% during the 2nd quarter. Franklin Resources Inc. now owns 1,109,613 shares of the company’s stock valued at $47,147,000 after buying an additional 53,260 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in shares of Irhythm Technologies by 43.7% during the 2nd quarter. TimesSquare Capital Management LLC now owns 1,060,230 shares of the company’s stock valued at $45,049,000 after buying an additional 322,300 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Irhythm Technologies by 644.3% during the 2nd quarter. Alliancebernstein L.P. now owns 883,986 shares of the company’s stock valued at $37,561,000 after buying an additional 765,218 shares during the last quarter. Institutional investors and hedge funds own 97.80% 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.

Analyst Recommendations for Irhythm Technologies (NASDAQ:IRTC)

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