Irhythm Technologies Inc (IRTC) Receives $67.67 Consensus Target Price from Brokerages
Irhythm Technologies Inc (NASDAQ:IRTC) has been given an average recommendation of “Hold” by the eight brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $67.50.
A number of analysts have recently weighed in on the company. BidaskClub lowered Irhythm Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. ValuEngine upgraded Irhythm Technologies from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Dougherty & Co assumed coverage on Irhythm Technologies in a research note on Friday, December 1st. They issued a “neutral” rating for the company. Canaccord Genuity raised their target price on Irhythm Technologies from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Finally, JPMorgan Chase & Co. raised their target price on Irhythm Technologies from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday.
Shares of Irhythm Technologies (NASDAQ IRTC) traded up $1.76 during midday trading on Wednesday, hitting $62.61. The company’s stock had a trading volume of 436,143 shares, compared to its average volume of 230,641. The company has a market capitalization of $1,398.42, a PE ratio of -48.16 and a beta of 1.56. Irhythm Technologies has a 12 month low of $32.10 and a 12 month high of $66.20. The company has a debt-to-equity ratio of 0.38, a quick ratio of 7.57 and a current ratio of 7.65.
In other news, Director Vijay K. Lathi sold 150,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $52.57, for a total value of $7,885,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew C. Garrett sold 1,193 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $55.00, for a total value of $65,615.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,533 shares of company stock valued at $13,500,006. 23.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. increased its position in Irhythm Technologies by 763.9% in the third quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock worth $151,000 after purchasing an additional 2,582 shares during the period. Shaker Investments LLC OH acquired a new stake in Irhythm Technologies in the fourth quarter worth about $263,000. Voya Investment Management LLC acquired a new stake in Irhythm Technologies in the second quarter worth about $274,000. GSA Capital Partners LLP acquired a new stake in Irhythm Technologies in the second quarter worth about $289,000. Finally, Two Sigma Advisers LP acquired a new stake in Irhythm Technologies in the fourth quarter worth about $331,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.
About Irhythm Technologies
iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.
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