Several other equities analysts also recently weighed in on the stock. Robert W. Baird dropped their target price on shares of iRhythm Technologies from $170.00 to $80.00 and set a “neutral” rating for the company in a report on Monday. BTIG Research dropped their target price on shares of iRhythm Technologies from $283.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 4th. Colliers Securities reiterated a “neutral” rating on shares of iRhythm Technologies in a report on Thursday, March 4th. Truist lowered their price target on shares of iRhythm Technologies from $265.00 to $220.00 in a report on Monday, February 1st. Finally, TheStreet downgraded shares of iRhythm Technologies from a “c-” rating to a “d+” rating in a report on Friday, March 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. iRhythm Technologies currently has an average rating of “Hold” and an average target price of $207.62.
NASDAQ:IRTC traded down $50.51 during mid-day trading on Monday, hitting $82.25. 140,664 shares of the company’s stock traded hands, compared to its average volume of 583,223. The company has a debt-to-equity ratio of 0.07, a quick ratio of 6.46 and a current ratio of 6.55. The firm’s 50 day simple moving average is $143.17 and its 200 day simple moving average is $203.31. iRhythm Technologies has a 1 year low of $78.00 and a 1 year high of $286.19. The company has a market cap of $2.40 billion, a PE ratio of -43.29 and a beta of 1.68.
iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, February 25th. The company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.02). iRhythm Technologies had a negative net margin of 20.97% and a negative return on equity of 28.89%. On average, research analysts expect that iRhythm Technologies will post -1.56 earnings per share for the current fiscal year.
In related news, EVP David A. Vort sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 26th. The shares were sold at an average price of $247.70, for a total value of $1,238,500.00. Following the sale, the executive vice president now directly owns 27,126 shares of the company’s stock, valued at $6,719,110.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 15,000 shares of company stock worth $3,648,050 over the last three months. Corporate insiders own 3.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. LPL Financial LLC lifted its position in iRhythm Technologies by 4.9% during the fourth quarter. LPL Financial LLC now owns 2,112 shares of the company’s stock valued at $501,000 after buying an additional 99 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in iRhythm Technologies during the third quarter valued at approximately $31,000. Cetera Advisor Networks LLC lifted its position in iRhythm Technologies by 14.6% during the fourth quarter. Cetera Advisor Networks LLC now owns 1,058 shares of the company’s stock valued at $251,000 after buying an additional 135 shares in the last quarter. HM Payson & Co. purchased a new stake in shares of iRhythm Technologies during the third quarter valued at approximately $33,000. Finally, Arizona State Retirement System raised its stake in shares of iRhythm Technologies by 1.9% during the fourth quarter. Arizona State Retirement System now owns 8,311 shares of the company’s stock valued at $1,971,000 after purchasing an additional 152 shares during the period.
iRhythm Technologies Company Profile
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It 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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