Several other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. BTIG Research downgraded shares of GTT Communications from a “buy” rating to a “neutral” rating in a report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Irhythm Technologies has a consensus rating of “Buy” and an average price target of $97.33.
Shares of IRTC opened at $80.16 on Friday. The company has a current ratio of 3.27, a quick ratio of 3.18 and a debt-to-equity ratio of 0.78. The business’s 50-day moving average is $75.40. Irhythm Technologies has a twelve month low of $58.99 and a twelve month high of $98.37.
Irhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Tuesday, May 7th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.17. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 71.31%. The company had revenue of $47.21 million for the quarter, compared to analyst estimates of $43.83 million. During the same period in the prior year, the business posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 54.4% compared to the same quarter last year. Equities analysts anticipate that Irhythm Technologies will post -1.53 EPS for the current year.
In related news, Director Merz Cathleen Noel Bairey sold 1,209 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $76.40, for a total transaction of $92,367.60. Following the transaction, the director now owns 3,844 shares of the company’s stock, valued at $293,681.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin M. King sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were 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 approximately $14,868,000. The disclosure for this sale can be found here. 3.85% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in shares of 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 buying an additional 358 shares during the period. Quantamental Technologies LLC raised its stake in Irhythm Technologies by 78.5% during the first quarter. Quantamental Technologies LLC now owns 1,423 shares of the company’s stock worth $107,000 after purchasing an additional 626 shares during the period. Rehmann Capital Advisory Group raised its stake in Irhythm Technologies by 2,617.6% during the first quarter. Rehmann Capital Advisory Group now owns 2,935 shares of the company’s stock worth $220,000 after purchasing an additional 2,827 shares during the period. United Services Automobile Association raised its stake in Irhythm Technologies by 15.3% during the fourth quarter. United Services Automobile Association now owns 3,444 shares of the company’s stock worth $239,000 after purchasing an additional 458 shares during the period. Finally, Amalgamated Bank purchased a new position in Irhythm Technologies during the fourth quarter worth approximately $246,000.
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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