iRhythm Technologies (NASDAQ:IRTC) Upgraded by StockNews.com to “Hold”

iRhythm Technologies (NASDAQ:IRTC) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

A number of other brokerages have also recently weighed in on IRTC. Oppenheimer dropped their target price on shares of iRhythm Technologies from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Truist Financial reiterated a “buy” rating and set a $117.00 price objective (down previously from $134.00) on shares of iRhythm Technologies in a research note on Friday, August 2nd. Robert W. Baird decreased their target price on iRhythm Technologies from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Needham & Company LLC lowered their target price on iRhythm Technologies from $138.00 to $119.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Wolfe Research raised iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.67.

iRhythm Technologies Stock Up 2.9 %

NASDAQ:IRTC traded up $2.05 during mid-day trading on Thursday, reaching $73.08. The stock had a trading volume of 367,631 shares, compared to its average volume of 440,302. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -17.28 and a beta of 1.22. iRhythm Technologies has a 1-year low of $60.88 and a 1-year high of $124.11. The stock’s 50 day simple moving average is $77.64 and its two-hundred day simple moving average is $94.20.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, August 1st. The company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.28. The company had revenue of $148.05 million during the quarter, compared to analyst estimates of $146.15 million. iRhythm Technologies had a negative return on equity of 84.14% and a negative net margin of 24.50%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.61) EPS. Equities analysts anticipate that iRhythm Technologies will post -2.66 EPS for the current year.

Insider Buying and Selling at iRhythm Technologies

In other news, CMO Minang Turakhia sold 1,404 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $105.65, for a total value of $148,332.60. Following the completion of the transaction, the chief marketing officer now owns 27,255 shares of the company’s stock, valued at $2,879,490.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Brice Bobzien sold 1,372 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $70.34, for a total transaction of $96,506.48. Following the transaction, the chief financial officer now owns 24,428 shares in the company, valued at $1,718,265.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Minang Turakhia sold 1,404 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $105.65, for a total value of $148,332.60. Following the sale, the chief marketing officer now directly owns 27,255 shares in the company, valued at approximately $2,879,490.75. The disclosure for this sale can be found here. Insiders have sold 6,476 shares of company stock valued at $521,081 in the last quarter. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On iRhythm Technologies

Hedge funds have recently modified their holdings of the company. Headlands Technologies LLC raised its holdings in shares of iRhythm Technologies by 10,650.0% in the 1st quarter. Headlands Technologies LLC now owns 430 shares of the company’s stock worth $50,000 after purchasing an additional 426 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings 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 buying an additional 277 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of iRhythm Technologies in the first quarter valued at $126,000. Russell Investments Group Ltd. lifted its position in shares of iRhythm Technologies by 79,700.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,596 shares of the company’s stock valued at $185,000 after acquiring an additional 1,594 shares during the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in shares of iRhythm Technologies by 7.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,125 shares of the company’s stock worth $229,000 after acquiring an additional 150 shares in the last quarter.

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.