Irhythm Technologies (NASDAQ:IRTC) PT Raised to $125.00

Irhythm Technologies (NASDAQ:IRTC) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $110.00 to $125.00 in a research note issued on Thursday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 63.98% from the company’s previous close.

A number of other research analysts have also recently commented on IRTC. BidaskClub cut shares of Irhythm Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. BTIG Research increased their price target on shares of Irhythm Technologies to $90.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research cut shares of Irhythm Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $99.00.

Shares of IRTC stock traded down $5.04 during trading on Thursday, hitting $76.23. The company had a trading volume of 683,815 shares, compared to its average volume of 274,813. The company has a quick ratio of 3.18, a current ratio of 3.27 and a debt-to-equity ratio of 0.78. The business’s 50-day simple moving average is $79.78. The firm has a market cap of $2.05 billion, a PE ratio of -40.33 and a beta of 1.72. Irhythm Technologies has a 52 week low of $58.99 and a 52 week high of $98.37.

Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). Irhythm Technologies had a negative net margin of 24.45% and a negative return on equity of 73.94%. The business had revenue of $53.30 million for the quarter, compared to the consensus estimate of $49.89 million. During the same quarter in the previous year, the business earned ($0.51) earnings per share. The firm’s revenue was up 50.1% on a year-over-year basis. On average, research analysts anticipate that Irhythm Technologies will post -1.53 EPS for the current fiscal year.

In other news, insider Kevin M. King sold 60,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $70.00, for a total transaction of $4,200,000.00. Following the completion of the sale, the insider now owns 212,400 shares of the company’s stock, valued at $14,868,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Merz Cathleen Noel Bairey sold 1,209 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $76.40, for a total value of $92,367.60. Following the sale, the director now directly owns 3,844 shares of the company’s stock, valued at approximately $293,681.60. The disclosure for this sale can be found here. 3.85% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Irhythm Technologies by 7.6% during the first quarter. FMR LLC now owns 1,580,865 shares of the company’s stock valued at $118,502,000 after purchasing an additional 111,643 shares during the period. Norges Bank purchased a new stake in shares of Irhythm Technologies during the fourth quarter valued at approximately $46,416,000. TimesSquare Capital Management LLC boosted its stake in shares of Irhythm Technologies by 48.6% during the second quarter. TimesSquare Capital Management LLC now owns 590,825 shares of the company’s stock valued at $46,722,000 after purchasing an additional 193,300 shares during the period. Geode Capital Management LLC boosted its stake in shares of Irhythm Technologies by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 254,410 shares of the company’s stock valued at $17,675,000 after purchasing an additional 16,951 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Irhythm Technologies by 2.7% during the first quarter. Victory Capital Management Inc. now owns 236,640 shares of the company’s stock valued at $17,739,000 after purchasing an additional 6,330 shares during the period.

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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The Fly

Analyst Recommendations for Irhythm Technologies (NASDAQ:IRTC)

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