Irhythm Technologies Inc (IRTC) Receives $94.14 Consensus Price Target from Analysts

Shares of Irhythm Technologies Inc (NASDAQ:IRTC) have been assigned an average recommendation of “Buy” from the twelve analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $94.14.

Several equities analysts have recently weighed in on the company. BidaskClub raised Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $100.00 price objective on shares of Irhythm Technologies in a research note on Thursday, August 2nd. BTIG Research reaffirmed a “hold” rating on shares of Irhythm Technologies in a research report on Thursday, August 2nd. Dougherty & Co raised shares of Irhythm Technologies from a “sell” rating to a “neutral” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research cut shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th.

In other news, EVP Derrick Sung sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 9th. The shares were sold at an average price of $83.10, for a total transaction of $831,000.00. Following the transaction, the executive vice president now directly owns 29,458 shares of the company’s stock, valued at $2,447,959.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kevin M. King sold 60,000 shares of the business’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $82.90, for a total transaction of $4,974,000.00. Following the transaction, the insider now directly owns 282,367 shares in the company, valued at $23,408,224.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,000 shares of company stock worth $7,505,200. 5.05% of the stock is currently owned by insiders.



A number of hedge funds have recently modified their holdings of the business. First Trust Advisors LP lifted its holdings in Irhythm Technologies by 36.7% in the 3rd quarter. First Trust Advisors LP now owns 67,586 shares of the company’s stock worth $6,398,000 after buying an additional 18,151 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Irhythm Technologies in the third quarter worth about $1,505,000. United Services Automobile Association acquired a new position in shares of Irhythm Technologies in the second quarter worth about $242,000. Northern Trust Corp lifted its stake in shares of Irhythm Technologies by 49.1% in the second quarter. Northern Trust Corp now owns 284,282 shares of the company’s stock worth $23,062,000 after acquiring an additional 93,656 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Irhythm Technologies by 17.1% in the second quarter. Millennium Management LLC now owns 726,837 shares of the company’s stock worth $58,968,000 after acquiring an additional 106,337 shares in the last quarter.

Shares of Irhythm Technologies stock opened at $76.84 on Tuesday. Irhythm Technologies has a twelve month low of $46.95 and a twelve month high of $98.37. The firm has a market capitalization of $1.92 billion, a P/E ratio of -59.11 and a beta of 1.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.47 and a current ratio of 5.58.

Irhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Wednesday, August 1st. The company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.12). Irhythm Technologies had a negative net margin of 34.38% and a negative return on equity of 53.59%. The firm had revenue of $35.50 million during the quarter, compared to analyst estimates of $32.52 million. During the same quarter in the previous year, the business posted ($0.29) EPS. Irhythm Technologies’s revenue was up 48.8% compared to the same quarter last year. As a group, equities research analysts predict that Irhythm Technologies will post -1.91 EPS for the current year.

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.

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Analyst Recommendations for Irhythm Technologies (NASDAQ:IRTC)

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