Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Irhythm Tech from a sell rating to a buy rating and set a $58.00 price objective for the company in a research report on Wednesday, October 4th. ValuEngine raised Irhythm Tech from a sell rating to a hold rating in a research note on Saturday, October 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $60.67.
Irhythm Tech (NASDAQ IRTC) traded up $3.62 on Thursday, hitting $51.95. The company had a trading volume of 460,000 shares, compared to its average volume of 266,052. Irhythm Tech has a fifty-two week low of $24.25 and a fifty-two week high of $53.87. The company has a current ratio of 8.15, a quick ratio of 8.07 and a debt-to-equity ratio of 0.36.
Irhythm Tech (NASDAQ:IRTC) last announced its earnings results on Wednesday, November 1st. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.05. The business had revenue of $25.04 million for the quarter, compared to the consensus estimate of $24.30 million. Irhythm Tech had a negative return on equity of 27.33% and a negative net margin of 27.56%. The company’s revenue was up 49.2% on a year-over-year basis. During the same period last year, the business posted ($2.80) EPS. equities analysts predict that Irhythm Tech will post -1.16 earnings per share for the current fiscal year.
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In related news, insider Kevin M. King sold 60,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $51.85, for a total transaction of $3,111,000.00. Following the completion of the transaction, the insider now owns 103,042 shares of the company’s stock, valued at approximately $5,342,727.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond W. Scott sold 12,749 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $45.30, for a total value of $577,529.70. Following the transaction, the director now directly owns 12,749 shares of the company’s stock, valued at approximately $577,529.70. The disclosure for this sale can be found here. Insiders sold 125,111 shares of company stock worth $6,258,065 in the last 90 days. Corporate insiders own 23.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc raised its holdings in Irhythm Tech by 131.0% in the 2nd quarter. Legal & General Group Plc now owns 3,373 shares of the company’s stock valued at $143,000 after acquiring an additional 1,913 shares in the last quarter. Advisor Group Inc. raised its holdings in Irhythm Tech by 763.9% in the 3rd quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock valued at $151,000 after acquiring an additional 2,582 shares in the last quarter. Nationwide Fund Advisors raised its holdings in Irhythm Tech by 30.2% in the 1st quarter. Nationwide Fund Advisors now owns 4,069 shares of the company’s stock valued at $153,000 after acquiring an additional 945 shares in the last quarter. American International Group Inc. acquired a new position in Irhythm Tech in the 1st quarter valued at approximately $161,000. Finally, First Mercantile Trust Co. acquired a new position in Irhythm Tech in the 2nd quarter valued at approximately $221,000. 95.22% of the stock is owned by hedge funds and other institutional investors.
Irhythm Tech Company Profile
iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.
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