Irhythm Technologies (NASDAQ:IRTC) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price objective on shares of Irhythm Technologies from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, BTIG Research set a $90.00 price objective on shares of Irhythm Technologies and gave the company a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $99.56.

Shares of NASDAQ IRTC opened at $69.12 on Friday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.59 and a current ratio of 2.66. Irhythm Technologies has a 52-week low of $58.99 and a 52-week high of $98.13. The firm has a 50 day moving average price of $73.54 and a two-hundred day moving average price of $74.46.

Irhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.02). Irhythm Technologies had a negative net margin of 24.45% and a negative return on equity of 76.47%. The business had revenue of $53.30 million during the quarter, compared to analyst estimates of $49.89 million. During the same quarter last year, the company posted ($0.51) earnings per share. The company’s revenue was up 50.1% compared to the same quarter last year. On average, equities analysts forecast that Irhythm Technologies will post -1.56 earnings per share for the current year.

In other news, CFO Matthew C. Garrett sold 27,569 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $76.83, for a total value of $2,118,126.27. Following the sale, the chief financial officer now directly owns 29,101 shares of the company’s stock, valued at approximately $2,235,829.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.85% of the company’s stock.

Large investors have recently bought and sold shares of the company. Cerebellum GP LLC bought a new stake in shares of Irhythm Technologies in the 2nd quarter valued at $348,000. Fiera Capital Corp bought a new position in Irhythm Technologies during the second quarter worth $23,766,000. FMR LLC boosted its stake in Irhythm Technologies by 7.6% during the first quarter. FMR LLC now owns 1,580,865 shares of the company’s stock worth $118,502,000 after acquiring an additional 111,643 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Irhythm Technologies by 93.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the company’s stock worth $144,000 after acquiring an additional 882 shares in the last quarter. Finally, NumerixS Investment Technologies Inc bought a new position in Irhythm Technologies during the second quarter worth $477,000.

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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