iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Free Report)’s stock price reached a new 52-week low during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $133.00 to $100.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. iRhythm Technologies traded as low as $68.51 and last traded at $69.11, with a volume of 41420 shares traded. The stock had previously closed at $73.88.
A number of other research analysts have also recently weighed in on IRTC. Oppenheimer lowered their target price on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday. Truist Financial restated a “buy” rating and set a $117.00 target price (down previously from $134.00) on shares of iRhythm Technologies in a research note on Friday. Needham & Company LLC decreased their price target on shares of iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley decreased their price target on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Wolfe Research upgraded shares of iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.67.
Insider Activity
In related news, EVP Sumi Shrishrimal sold 1,131 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $88.91, for a total transaction of $100,557.21. Following the completion of the sale, the executive vice president now owns 23,298 shares of the company’s stock, valued at $2,071,425.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Sumi Shrishrimal sold 1,131 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $88.91, for a total transaction of $100,557.21. Following the completion of the sale, the executive vice president now owns 23,298 shares of the company’s stock, valued at $2,071,425.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Minang Turakhia sold 1,404 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $105.65, for a total transaction of $148,332.60. Following the completion of the transaction, the chief marketing officer now directly owns 27,255 shares of the company’s stock, valued at approximately $2,879,490.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,045 shares of company stock worth $294,234. Corporate insiders own 0.68% of the company’s stock.
Institutional Trading of iRhythm Technologies
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its position in shares of iRhythm Technologies by 10,650.0% in the first quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock valued at $50,000 after purchasing an additional 426 shares during the period. Nisa Investment Advisors LLC grew its position in shares of iRhythm Technologies by 79.6% in the second quarter. Nisa Investment Advisors LLC now owns 625 shares of the company’s stock valued at $67,000 after purchasing an additional 277 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of iRhythm Technologies in the fourth quarter valued at about $92,000. SG Americas Securities LLC acquired a new stake in shares of iRhythm Technologies in the first quarter valued at about $126,000. Finally, Russell Investments Group Ltd. grew its position in shares of iRhythm Technologies by 79,700.0% in the first quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock valued at $185,000 after purchasing an additional 1,594 shares during the period.
iRhythm Technologies Trading Down 4.2 %
The company’s 50-day moving average price is $95.22 and its 200-day moving average price is $104.98. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -16.75 and a beta of 1.25. The company has a quick ratio of 6.95, a current ratio of 7.10 and a debt-to-equity ratio of 7.13.
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.28. The firm had revenue of $148.05 million for the quarter, compared to the consensus estimate of $146.15 million. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 75.14%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the firm posted ($0.61) earnings per share. Equities analysts expect that iRhythm Technologies, Inc. will post -3.22 EPS for the current fiscal year.
iRhythm Technologies Company Profile
iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.
