In yesterday’s Wall Street session, iRhythm Technologies Inc. (NASDAQ:IRTC) shares traded at $111.42, up 3.87% from the previous session.
As of this writing, 11 analysts cover iRhythm Technologies Inc. (NASDAQ:IRTC). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $168.00 and a low of $110.00, we find $143.00. Given the previous closing price of $107.27, this indicates a potential upside of 33.31 percent. IRTC stock price is now 6.28% away from the 50-day moving average and -8.49% away from the 200-day moving average. The market capitalization of the company currently stands at $3.62B.
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There are 2 analysts who have given it a hold rating, whereas 9 have given it a buy rating. Brokers who have rated the stock have averaged $142.33 as their price target over the next twelve months.
With the price target of $150, Wells Fargo recently initiated with Overweight rating for iRhythm Technologies Inc. (NASDAQ: IRTC)., while ‘Citigroup’ rates the stock as ‘Neutral’.
In other news, Day Mark J., Chief Technology Officer sold 2,116 shares of the company’s stock on Mar 03. The stock was sold for $248,059 at an average price of $117.23. Upon completion of the transaction, the Chief Technology Officer now directly owns 54,815 shares in the company, valued at $6.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 03, Chief Operating Officer Devine Douglas sold 1,473 shares of the business’s stock. A total of $172,680 was realized by selling the stock at an average price of $117.23. This leaves the insider owning 29,566 shares of the company worth $3.29 million. Insiders disposed of 33,769 shares of company stock worth roughly $3.76 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IRTC stock. A new stake in iRhythm Technologies Inc. shares was purchased by BRAIDWELL LP during the first quarter worth $55,450,000. SLATE PATH CAPITAL LP invested $38,997,000 in shares of IRTC during the first quarter. In the first quarter, RENAISSANCE TECHNOLOGIES LLC acquired a new stake in iRhythm Technologies Inc. valued at approximately $11,343,000. WESTERN STANDARD LLC acquired a new stake in IRTC for approximately $3,294,000. JUMP FINANCIAL, LLC purchased a new stake in IRTC valued at around $2,162,000 in the second quarter.
Monday morning saw iRhythm Technologies Inc. (NASDAQ: IRTC) opened at $106.00. During the past 12 months, iRhythm Technologies Inc. has had a low of $85.74 and a high of $169.54. As of last week, the company has a debt-to-equity ratio of 0.15, a current ratio of 3.20, and a quick ratio of 3.10. The fifty day moving average price for IRTC is $104.84 and a two-hundred day moving average price translates $121.75 for the stock.
The latest earnings results from iRhythm Technologies Inc. (NASDAQ: IRTC) was released for Sep, 2022. According to the Medical Devices Company, earnings per share came in at -$0.71, beating analysts’ expectations of -$0.83 by 0.12. This compares to -$1.10 EPS in the same period last year. The net profit margin was -28.30% and return on equity was -48.00% for IRTC. The company reported revenue of $112.62 million for the quarter, compared to $81.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 37.67 percent. For the current quarter, analysts expect IRTC to generate $110.26M in revenue.
iRhythm Technologies Inc.(IRTC) Company Profile
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. The company’s Zio XT and AT monitors, a single-use, wire-free, and wearable patch-based biosensors, records patient’s heartbeats and ECG data. It has a development collaboration agreement with Verily Life Sciences LLC to develop various next-generation atrial fibrillation screening, detection, or monitoring products. The company was incorporated in 2006 and is headquartered in San Francisco, California.
