iRhythm Technologies (NASDAQ:IRTC) Upgraded at StockNews.com

StockNews.com upgraded shares of iRhythm Technologies (NASDAQ:IRTC) from a sell rating to a hold rating in a research report sent to investors on Friday.

IRTC has been the subject of several other reports. Oppenheimer lowered their price objective on shares of iRhythm Technologies from $165.00 to $145.00 and set an outperform rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on shares of iRhythm Technologies from $133.00 to $100.00 and set an overweight rating for the company in a research note on Friday, August 2nd. Robert W. Baird lowered their price objective on shares of iRhythm Technologies from $120.00 to $110.00 and set an outperform rating for the company in a research note on Friday, August 2nd. Needham & Company LLC lowered their price objective on shares of iRhythm Technologies from $138.00 to $119.00 and set a buy rating for the company in a research note on Friday, August 2nd. Finally, Wolfe Research upgraded shares of iRhythm Technologies from a peer perform rating to an outperform rating and set a $115.00 target price for the company in a research report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, iRhythm Technologies currently has an average rating of Moderate Buy and a consensus target price of $118.67.

iRhythm Technologies Price Performance

Shares of IRTC opened at $65.48 on Friday. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -15.48 and a beta of 1.25. iRhythm Technologies has a twelve month low of $64.35 and a twelve month high of $124.11. The company has a quick ratio of 6.95, a current ratio of 7.10 and a debt-to-equity ratio of 7.13. The company has a 50 day moving average of $91.03 and a two-hundred day moving average of $101.60.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.28. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 75.14%. The company had revenue of $148.05 million during the quarter, compared to the consensus estimate of $146.15 million. During the same period last year, the firm earned ($0.61) earnings per share. iRhythm Technologies’s revenue was up 19.3% compared to the same quarter last year. As a group, analysts predict that iRhythm Technologies will post -3.22 earnings per share for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, insider Chad Patterson sold 3,012 shares of iRhythm Technologies stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $74.66, for a total value of $224,875.92. Following the completion of the transaction, the insider now owns 37,133 shares of the company’s stock, valued at $2,772,349.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other iRhythm Technologies news, EVP Sumi Shrishrimal sold 1,131 shares of iRhythm Technologies stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $88.91, for a total value of $100,557.21. Following the completion of the transaction, the executive vice president now owns 23,298 shares of the company’s stock, valued at $2,071,425.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chad Patterson sold 3,012 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $74.66, for a total transaction of $224,875.92. Following the sale, the insider now directly owns 37,133 shares of the company’s stock, valued at approximately $2,772,349.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,117 shares of company stock valued at $666,982. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of iRhythm Technologies

A number of institutional investors and hedge funds have recently modified their holdings of IRTC. Headlands Technologies LLC increased its stake in shares of iRhythm Technologies by 10,650.0% during the first quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock worth $50,000 after purchasing an additional 426 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of iRhythm Technologies by 79.6% during the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock worth $67,000 after purchasing an additional 277 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of iRhythm Technologies during the fourth quarter worth about $92,000. SG Americas Securities LLC purchased a new stake in shares of iRhythm Technologies during the first quarter worth about $126,000. Finally, Russell Investments Group Ltd. increased its stake in shares of iRhythm Technologies by 79,700.0% during the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock worth $185,000 after purchasing an additional 1,594 shares in the last quarter.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.