Irhythm Technologies Inc (NASDAQ:IRTC)’s stock price fell 6.5% during mid-day trading on Thursday . The company traded as low as $56.24 and last traded at $63.04, 2,380,800 shares traded hands during mid-day trading. An increase of 761% from the average session volume of 276,579 shares. The stock had previously closed at $67.42.

A number of research firms have recently issued reports on IRTC. Oppenheimer began coverage on shares of Irhythm Technologies in a research note on Tuesday, October 22nd. They issued a “market perform” rating for the company. BTIG Research set a $90.00 target price on shares of Irhythm Technologies and gave the company a “buy” rating in a research note on Wednesday, July 31st. Zacks Investment Research cut shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 9th. ValuEngine cut shares of Irhythm Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Irhythm Technologies from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Irhythm Technologies has a consensus rating of “Hold” and a consensus target price of $99.56.

The business’s 50 day moving average price is $68.77 and its 200-day moving average price is $74.06. 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 company has a market cap of $1.69 billion, a P/E ratio of -34.67 and a beta of 1.72.

Irhythm Technologies (NASDAQ:IRTC) last posted its 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). Irhythm Technologies had a negative net margin of 26.45% and a negative return on equity of 97.79%. The firm had revenue of $55.96 million during the quarter, compared to the consensus estimate of $53.76 million. During the same quarter last year, the firm posted ($0.43) EPS. The business’s revenue was up 46.9% on a year-over-year basis. As a group, research analysts forecast that Irhythm Technologies Inc will post -1.96 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. raised its position in Irhythm Technologies by 40.7% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 629 shares of the company’s stock worth $50,000 after purchasing an additional 182 shares during the last quarter. Advisor Group Inc. raised its position in Irhythm Technologies by 403.1% in the 2nd quarter. Advisor Group Inc. now owns 805 shares of the company’s stock worth $63,000 after purchasing an additional 645 shares during the last quarter. US Bancorp DE raised its position in Irhythm Technologies by 1,029.7% in the 2nd quarter. US Bancorp DE now owns 1,446 shares of the company’s stock worth $114,000 after purchasing an additional 1,318 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Irhythm Technologies in the 3rd quarter worth approximately $124,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Irhythm Technologies by 93.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the company’s stock worth $144,000 after purchasing an additional 882 shares during the last quarter.

About Irhythm Technologies (NASDAQ:IRTC)

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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