Irhythm Technologies (NASDAQ:IRTC) Upgraded by ValuEngine to Buy

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ValuEngine upgraded shares of Irhythm Technologies (NASDAQ:IRTC) from a hold rating to a buy rating in a report published on Friday morning, ValuEngine reports.

A number of other equities research analysts have also issued reports on IRTC. JPMorgan Chase & Co. upped their price target on Irhythm Technologies from $110.00 to $125.00 and gave the company an overweight rating in a research report on Thursday, August 1st. Oppenheimer started coverage on Irhythm Technologies in a research report on Tuesday, October 22nd. They issued a market perform rating for the company. BidaskClub upgraded Irhythm Technologies from a sell rating to a hold rating in a research report on Tuesday, November 19th. Finally, Zacks Investment Research lowered Irhythm Technologies from a hold rating to a sell rating in a research report on Saturday, November 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $99.56.

IRTC stock opened at $72.47 on Friday. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.66 and a quick ratio of 2.59. The business has a 50 day simple moving average of $69.09 and a 200-day simple moving average of $73.80. The firm has a market capitalization of $1.80 billion, a PE ratio of -38.34 and a beta of 1.73. Irhythm Technologies has a 1 year low of $56.24 and a 1 year high of $98.13.

Irhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.34). The company had revenue of $55.96 million during the quarter, compared to analysts’ expectations of $53.76 million. Irhythm Technologies had a negative net margin of 26.45% and a negative return on equity of 97.79%. Irhythm Technologies’s revenue for the quarter was up 46.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.43) earnings per share. On average, equities research analysts expect that Irhythm Technologies will post -1.96 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Irhythm Technologies by 40.7% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 629 shares of the company’s stock valued at $50,000 after acquiring an additional 182 shares during the last quarter. Shaker Investments LLC OH lifted its holdings in Irhythm Technologies by 0.8% in the second quarter. Shaker Investments LLC OH now owns 25,142 shares of the company’s stock valued at $1,988,000 after acquiring an additional 188 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in Irhythm Technologies by 2.9% in the third quarter. Metropolitan Life Insurance Co NY now owns 8,009 shares of the company’s stock valued at $594,000 after acquiring an additional 226 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Irhythm Technologies by 3.6% in the third quarter. Envestnet Asset Management Inc. now owns 7,400 shares of the company’s stock valued at $548,000 after acquiring an additional 255 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Irhythm Technologies by 1.2% in the third quarter. California State Teachers Retirement System now owns 38,542 shares of the company’s stock valued at $2,856,000 after acquiring an additional 440 shares during the last quarter.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Irhythm Technologies (NASDAQ:IRTC)

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