iRhythm Technologies (NASDAQ:IRTC) Stock Rating Lowered by StockNews.com

iRhythm Technologies (NASDAQ:IRTC) Stock Rating Lowered by StockNews.com

iRhythm Technologies, Inc.  logosStockNews.com lowered shares of iRhythm Technologies (NASDAQ:IRTC – Get Rating) from a hold rating to a sell rating in a research report released on Monday.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley reduced their price target on shares of iRhythm Technologies from $172.00 to $165.00 and set an overweight rating for the company in a research report on Tuesday, October 11th. Oppenheimer reduced their price target on shares of iRhythm Technologies from $175.00 to $166.00 in a research report on Wednesday, November 2nd. Canaccord Genuity Group cut their price target on iRhythm Technologies from $198.00 to $155.00 and set a buy rating for the company in a report on Wednesday, November 2nd. Wolfe Research upgraded iRhythm Technologies from an underperform rating to a peer perform rating in a report on Monday, November 7th. Finally, JPMorgan Chase & Co. boosted their price target on iRhythm Technologies from $185.00 to $190.00 and gave the company an overweight rating in a report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $154.00.

iRhythm Technologies Price Performance

Shares of IRTC opened at $95.22 on Monday. iRhythm Technologies has a twelve month low of $90.80 and a twelve month high of $169.54. The stock’s 50 day moving average is $106.46 and its two-hundred day moving average is $126.05. The firm has a market capitalization of $2.87 billion, a PE ratio of -22.04 and a beta of 1.41. The company has a current ratio of 3.42, a quick ratio of 3.25 and a debt-to-equity ratio of 0.15.

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iRhythm Technologies (NASDAQ:IRTC – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The company reported earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.19. iRhythm Technologies has a negative net margin of 33.79% and a negative return on equity of 39.31%. The company had revenue of $103.88 million during the quarter, compared to the consensus estimate of $106.43 million. Research analysts anticipate that iRhythm Technologies will post -3.82 earnings per share for the current year.

Insider Buying and Selling

In other iRhythm Technologies news, COO Douglas Devine sold 2,000 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the transaction, the chief operating officer now owns 27,702 shares in the company, valued at approximately $3,462,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this link. In other iRhythm Technologies news, COO Douglas Devine sold 2,000 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the transaction, the chief operating officer now owns 27,702 shares in the company, valued at approximately $3,462,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this link. Also, CEO Quentin S. Blackford sold 12,699 shares of the business’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $122.40, for a total transaction of $1,554,357.60. Following the completion of the transaction, the chief executive officer now owns 89,280 shares in the company, valued at approximately $10,927,872. The disclosure for this sale can be found here. 1.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On iRhythm Technologies

Institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp acquired a new stake in shares of iRhythm Technologies in the 3rd quarter valued at about $49,000. Focused Wealth Management Inc acquired a new stake in shares of iRhythm Technologies in the 3rd quarter valued at about $50,000. First Horizon Advisors Inc. acquired a new stake in shares of iRhythm Technologies in the 2nd quarter valued at about $53,000. Point72 Hong Kong Ltd acquired a new stake in shares of iRhythm Technologies in the 2nd quarter valued at about $85,000. Finally, Captrust Financial Advisors raised its stake in shares of iRhythm Technologies by 92.0% in the 2nd quarter. Captrust Financial Advisors now owns 935 shares of the company’s stock valued at $101,000 after purchasing an additional 448 shares in the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

About iRhythm Technologies

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iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It 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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