Itamar Medical (NASDAQ:ITMR) Downgraded by HC Wainwright to “Neutral”

HC Wainwright cut shares of Itamar Medical (NASDAQ:ITMR) from a buy rating to a neutral rating in a research note published on Tuesday, The Fly reports. HC Wainwright currently has $31.00 price objective on the stock, down from their prior price objective of $36.00.

Several other analysts have also issued reports on the company. SVB Leerink cut their price objective on Itamar Medical from $33.00 to $30.00 and set an outperform rating for the company in a report on Thursday, May 20th. Zacks Investment Research upgraded Itamar Medical from a sell rating to a hold rating in a report on Tuesday, August 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $30.20.

Shares of NASDAQ:ITMR opened at $30.40 on Tuesday. Itamar Medical has a 1 year low of $16.36 and a 1 year high of $30.40. The business has a fifty day simple moving average of $20.05 and a 200 day simple moving average of $21.77. The firm has a market cap of $489.68 million, a price-to-earnings ratio of -28.68 and a beta of 1.13.

Itamar Medical (NASDAQ:ITMR) last announced its quarterly earnings data on Tuesday, August 31st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.02). On average, sell-side analysts anticipate that Itamar Medical will post -1.25 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Deerfield Management Company L.P. Series C raised its holdings in Itamar Medical by 50.4% during the first quarter. Deerfield Management Company L.P. Series C now owns 1,193,803 shares of the company’s stock valued at $28,592,000 after buying an additional 400,000 shares in the last quarter. Redmile Group LLC increased its stake in shares of Itamar Medical by 29.1% in the first quarter. Redmile Group LLC now owns 918,900 shares of the company’s stock worth $22,008,000 after purchasing an additional 207,400 shares during the period. First Light Asset Management LLC increased its stake in shares of Itamar Medical by 56.4% in the second quarter. First Light Asset Management LLC now owns 586,420 shares of the company’s stock worth $13,810,000 after purchasing an additional 211,420 shares during the period. Federated Hermes Inc. increased its stake in shares of Itamar Medical by 66.7% in the first quarter. Federated Hermes Inc. now owns 500,000 shares of the company’s stock worth $11,975,000 after purchasing an additional 200,000 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Itamar Medical by 1.4% in the second quarter. Millennium Management LLC now owns 386,612 shares of the company’s stock worth $9,105,000 after purchasing an additional 5,223 shares during the period. Institutional investors own 43.52% of the company’s stock.

About Itamar Medical

Itamar Medical Ltd. engages in the research, development, marketing, selling, and leasing of non-invasive medical devices based on peripheral arterial tone signals. It develops and markets two products, namely, WatchPAT and EndoPAT. The WatchPAT diagnoses sleep apnea, which has been proven to be a substantial risk factor in cardiac disease.

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