Irhythm Technologies (IRTC) Research Coverage Started at Royal Bank Of Canada
Royal Bank Of Canada started coverage on shares of Irhythm Technologies (NASDAQ:IRTC) in a research note released on Monday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $79.00 price objective on the stock.
A number of other research analysts also recently commented on IRTC. Dougherty & Co assumed coverage on shares of Irhythm Technologies in a research note on Friday, December 1st. They set a neutral rating on the stock. Zacks Investment Research downgraded shares of Irhythm Technologies from a hold rating to a sell rating in a research note on Tuesday, August 8th. ValuEngine upgraded shares of Irhythm Technologies from a sell rating to a hold rating in a research note on Saturday, October 21st. Canaccord Genuity increased their price objective on shares of Irhythm Technologies from $49.00 to $55.00 and gave the company a buy rating in a research note on Friday, September 22nd. Finally, Morgan Stanley increased their price objective on shares of Irhythm Technologies from $50.00 to $65.00 and gave the company an overweight rating in a research note on Friday, November 3rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $65.25.
Irhythm Technologies (NASDAQ IRTC) traded down $0.35 on Monday, reaching $51.96. 120,600 shares of the company were exchanged, compared to its average volume of 262,940. Irhythm Technologies has a 1-year low of $24.25 and a 1-year high of $57.90. The company has a quick ratio of 7.57, a current ratio of 7.65 and a debt-to-equity ratio of 0.38.
Irhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.29) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.05. The business had revenue of $25.04 million during the quarter, compared to analyst estimates of $24.30 million. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 27.67%. The business’s revenue was up 49.2% on a year-over-year basis. During the same period last year, the business earned ($2.80) EPS. equities analysts forecast that Irhythm Technologies will post -1.17 earnings per share for the current year.
In other news, CFO Matthew C. Garrett sold 1,193 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $55.00, for a total value of $65,615.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kevin M. King sold 60,000 shares of the firm’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 in the company, valued at $5,342,727.70. The disclosure for this sale can be found here. Insiders have sold a total of 325,806 shares of company stock worth $16,856,605 over the last quarter. 23.30% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Legal & General Group Plc lifted its position in shares of Irhythm Technologies by 131.0% in the 2nd quarter. Legal & General Group Plc now owns 3,373 shares of the company’s stock worth $143,000 after buying an additional 1,913 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Irhythm Technologies by 763.9% in the 3rd quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock worth $151,000 after buying an additional 2,582 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of Irhythm Technologies by 92.8% in the 2nd quarter. Nationwide Fund Advisors now owns 7,843 shares of the company’s stock worth $333,000 after buying an additional 3,774 shares during the last quarter. EAM Investors LLC lifted its position in shares of Irhythm Technologies by 19.7% in the 2nd quarter. EAM Investors LLC now owns 24,942 shares of the company’s stock worth $1,060,000 after buying an additional 4,106 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Irhythm Technologies by 84.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,204 shares of the company’s stock worth $476,000 after buying an additional 5,124 shares during the last quarter. Institutional investors own 97.80% of the company’s stock.
Irhythm Technologies 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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