Irhythm Technologies (IRTC) Price Target Raised to $90.00 at BTIG Research

Irhythm Technologies (NASDAQ:IRTC) had its price target lifted by BTIG Research to $90.00 in a research report released on Wednesday, May 8th, The Fly reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Irhythm Technologies from a hold rating to a buy rating and set a $78.00 price target for the company in a research note on Wednesday, April 17th. Chardan Capital cut shares of Irhythm Technologies from a buy rating to a neutral rating and reduced their target price for the stock from $111.00 to $104.00 in a research note on Wednesday, February 20th. BMO Capital Markets raised their target price on shares of Irhythm Technologies from $96.00 to $105.00 and gave the stock an outperform rating in a research note on Wednesday, February 13th. BidaskClub upgraded shares of Irhythm Technologies from a sell rating to a hold rating in a research note on Thursday, April 25th. Finally, Northland Securities restated a hold rating and issued a $75.00 target price on shares of Irhythm Technologies in a research note on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Irhythm Technologies has an average rating of Buy and an average target price of $97.33.

Shares of NASDAQ:IRTC opened at $68.46 on Wednesday. The company has a current ratio of 3.27, a quick ratio of 3.18 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -36.22 and a beta of 1.66. Irhythm Technologies has a 52 week low of $58.99 and a 52 week high of $98.37.

Irhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Tuesday, May 7th. The company reported ($0.33) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.17. The firm had revenue of $47.21 million for the quarter, compared to the consensus estimate of $43.83 million. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 71.31%. The company’s revenue was up 54.4% on a year-over-year basis. During the same period last year, the firm posted ($0.47) EPS. On average, research analysts forecast that Irhythm Technologies will post -1.53 earnings per share for the current year.

In other Irhythm Technologies news, EVP David A. Vort sold 4,286 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $90.00, for a total transaction of $385,740.00. Following the completion of the transaction, the executive vice president now directly owns 24,125 shares in the company, valued at approximately $2,171,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David A. Vort sold 5,044 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $95.89, for a total transaction of $483,669.16. The disclosure for this sale can be found here. Insiders sold 129,330 shares of company stock valued at $10,395,009 in the last quarter. Company insiders own 3.85% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Irhythm Technologies by 288.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 447 shares of the company’s stock worth $35,000 after buying an additional 332 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Irhythm Technologies in the fourth quarter worth approximately $55,000. Pearl River Capital LLC acquired a new stake in shares of Irhythm Technologies in the fourth quarter worth approximately $66,000. Bank of Montreal Can boosted its position in shares of Irhythm Technologies by 574.7% in the fourth quarter. Bank of Montreal Can now owns 1,120 shares of the company’s stock worth $78,000 after acquiring an additional 954 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Irhythm Technologies by 38.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,278 shares of the company’s stock worth $89,000 after acquiring an additional 358 shares during the last quarter.

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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