Irhythm Technologies (IRTC) Stock Rating Lowered by BidaskClub

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BidaskClub lowered shares of Irhythm Technologies (NASDAQ:IRTC) from a buy rating to a hold rating in a report issued on Friday.

A number of other equities analysts have also issued reports on IRTC. Canaccord Genuity reaffirmed a buy rating and set a $80.00 target price (up from $68.00) on shares of Irhythm Technologies in a report on Monday, March 12th. ValuEngine raised shares of Irhythm Technologies from a hold rating to a buy rating in a report on Wednesday, May 9th. Zacks Investment Research raised shares of Irhythm Technologies from a sell rating to a hold rating in a report on Tuesday, May 8th. Northland Securities reaffirmed a hold rating and set a $60.00 target price on shares of Irhythm Technologies in a report on Monday, April 16th. Finally, BMO Capital Markets assumed coverage on shares of Irhythm Technologies in a report on Monday, March 5th. They set an outperform rating and a $76.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Irhythm Technologies currently has a consensus rating of Buy and an average target price of $74.00.

Irhythm Technologies opened at $76.61 on Friday, according to MarketBeat Ratings. Irhythm Technologies has a 12-month low of $39.99 and a 12-month high of $84.70. The company has a quick ratio of 6.48, a current ratio of 6.59 and a debt-to-equity ratio of 0.45. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -58.93 and a beta of 1.45.

Irhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Wednesday, May 2nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.11). Irhythm Technologies had a negative return on equity of 43.37% and a negative net margin of 32.73%. The business had revenue of $30.60 million for the quarter, compared to analysts’ expectations of $29.07 million. During the same period in the prior year, the business posted ($0.24) earnings per share. The business’s quarterly revenue was up 43.0% compared to the same quarter last year. analysts expect that Irhythm Technologies will post -1.57 EPS for the current year.

In related news, Director Raymond W. Scott sold 6,877 shares of Irhythm Technologies stock in a transaction on Monday, June 11th. The shares were sold at an average price of $80.41, for a total value of $552,979.57. Following the sale, the director now owns 8,905 shares of the company’s stock, valued at approximately $716,051.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derrick Sung sold 10,000 shares of Irhythm Technologies stock in a transaction on Friday, May 18th. The shares were sold at an average price of $70.00, for a total transaction of $700,000.00. Following the completion of the sale, the insider now directly owns 23,858 shares in the company, valued at approximately $1,670,060. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,877 shares of company stock valued at $6,525,780. Insiders own 23.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in IRTC. SG Americas Securities LLC acquired a new stake in Irhythm Technologies in the 1st quarter valued at $112,000. Alambic Investment Management L.P. acquired a new stake in Irhythm Technologies in the 1st quarter valued at $208,000. Bluestein R H & Co. acquired a new stake in Irhythm Technologies in the 1st quarter valued at $283,000. Two Sigma Advisers LP acquired a new stake in Irhythm Technologies in the 4th quarter valued at $331,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Irhythm Technologies in the 1st quarter valued at $509,000.

About Irhythm Technologies

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.

Analyst Recommendations for Irhythm Technologies (NASDAQ:IRTC)

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