Irhythm Technologies Inc (NASDAQ:IRTC) has earned a consensus recommendation of “Buy” from the eleven analysts that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $97.33.
A number of brokerages have weighed in on IRTC. JPMorgan Chase & Co. upped their target price on Irhythm Technologies to $110.00 in a research note on Wednesday, February 13th. BTIG Research upgraded Irhythm Technologies from a “neutral” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Wednesday, April 3rd. BidaskClub raised Irhythm Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 15th. Canaccord Genuity lifted their target price on Irhythm Technologies from $90.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, February 13th. Finally, Zacks Investment Research upgraded Irhythm Technologies from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Wednesday, April 17th.
Shares of NASDAQ IRTC traded up $3.42 during midday trading on Wednesday, hitting $76.45. 224,977 shares of the stock traded hands, compared to its average volume of 450,329. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -40.45 and a beta of 1.69. Irhythm Technologies has a one year low of $58.99 and a one year high of $98.37. The company has a quick ratio of 3.18, a current ratio of 3.27 and a debt-to-equity ratio of 0.78.
In related news, insider Kevin M. King sold 60,000 shares of Irhythm Technologies stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $70.00, for a total transaction of $4,200,000.00. Following the transaction, the insider now directly owns 212,400 shares in the company, valued at $14,868,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David A. Vort sold 4,286 shares of Irhythm Technologies stock in a transaction on Friday, March 15th. The shares were sold at an average price of $90.00, for a total value of $385,740.00. Following the transaction, the executive vice president now owns 24,125 shares in the company, valued at $2,171,250. The disclosure for this sale can be found here. Insiders have sold 124,286 shares of company stock worth $9,911,340 over the last quarter. 3.85% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRTC. Ladenburg Thalmann Financial Services Inc. lifted its position in Irhythm Technologies by 288.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 447 shares of the company’s stock valued at $35,000 after purchasing an additional 332 shares in the last quarter. Quantamental Technologies LLC purchased a new position in Irhythm Technologies during the fourth quarter valued at $55,000. Pearl River Capital LLC purchased a new position in Irhythm Technologies during the fourth quarter valued at $66,000. Bank of Montreal Can lifted its position in Irhythm Technologies by 574.7% during the fourth quarter. Bank of Montreal Can now owns 1,120 shares of the company’s stock valued at $78,000 after purchasing an additional 954 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Irhythm Technologies by 38.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,278 shares of the company’s stock valued at $89,000 after purchasing an additional 358 shares in the last quarter.
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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