Irhythm Technologies (NASDAQ:IRTC) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Irhythm Technologies (NASDAQ:IRTC) from a strong sell rating to a sell rating in a research note released on Saturday, BidAskClub reports.

Other equities analysts have also recently issued reports about the company. SunTrust Banks assumed coverage on Irhythm Technologies in a research report on Tuesday, January 7th. They set a buy rating and a $102.00 price target on the stock. Oppenheimer started coverage on Irhythm Technologies in a research note on Tuesday, October 22nd. They set a market perform rating for the company. Zacks Investment Research raised Irhythm Technologies from a sell rating to a hold rating in a research note on Wednesday, January 8th. William Blair started coverage on Irhythm Technologies in a research note on Thursday, January 9th. They set an outperform rating for the company. Finally, Canaccord Genuity reissued a buy rating and set a $107.00 price objective on shares of Irhythm Technologies in a research note on Tuesday, December 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $101.00.

Shares of IRTC stock opened at $79.98 on Friday. Irhythm Technologies has a 1 year low of $56.24 and a 1 year high of $98.13. The stock has a market cap of $2.00 billion, a PE ratio of -42.32 and a beta of 1.68. The business’s fifty day moving average is $68.55 and its 200-day moving average is $72.71. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.99 and a current ratio of 4.07.

Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.34). Irhythm Technologies had a negative net margin of 26.45% and a negative return on equity of 67.44%. The firm had revenue of $55.96 million for the quarter, compared to analyst estimates of $53.76 million. During the same quarter last year, the business posted ($0.43) earnings per share. The firm’s revenue for the quarter was up 46.9% compared to the same quarter last year. Equities research analysts predict that Irhythm Technologies will post -2.04 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRTC. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Irhythm Technologies by 40.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 629 shares of the company’s stock worth $50,000 after acquiring an additional 182 shares in the last quarter. US Bancorp DE boosted its position in shares of Irhythm Technologies by 1,029.7% in the second quarter. US Bancorp DE now owns 1,446 shares of the company’s stock worth $114,000 after buying an additional 1,318 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Irhythm Technologies in the third quarter worth $124,000. Barclays PLC boosted its position in shares of Irhythm Technologies by 101.7% in the third quarter. Barclays PLC now owns 1,785 shares of the company’s stock worth $132,000 after buying an additional 109,842 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Irhythm Technologies by 3,879.2% in the second quarter. Bank of Montreal Can now owns 2,109 shares of the company’s stock worth $167,000 after buying an additional 2,056 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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Analyst Recommendations for Irhythm Technologies (NASDAQ:IRTC)

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