iRhythm Technologies’ (IRTC) Maintains Rating Reiterated at VNET Group

VNET Group reaffirmed their maintains rating on shares of iRhythm Technologies (NASDAQ:IRTC – Get Rating) in a research report released on Friday morning, Benzinga reports.

Several other analysts have also recently commented on IRTC. Wells Fargo & Company initiated coverage on shares of iRhythm Technologies in a research note on Tuesday, February 7th. They issued an overweight rating and a $150.00 price objective for the company. Morgan Stanley boosted their target price on shares of iRhythm Technologies from $128.00 to $130.00 and gave the stock an overweight rating in a research report on Friday, February 24th. StockNews.com raised shares of iRhythm Technologies from a sell rating to a hold rating in a report on Wednesday, March 22nd. Needham & Company LLC upped their price target on shares of iRhythm Technologies from $133.00 to $151.00 in a research report on Friday. Finally, Canaccord Genuity Group increased their target price on shares of iRhythm Technologies from $135.00 to $143.00 and gave the company a buy rating in a research report on Friday, February 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $154.40.

iRhythm Technologies Stock Up 2.2 %

IRTC opened at $127.51 on Friday. iRhythm Technologies has a twelve month low of $85.74 and a twelve month high of $164.69. The company has a quick ratio of 3.07, a current ratio of 3.24 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $124.58 and a 200 day moving average price of $111.19. The company has a market cap of $3.88 billion, a PE ratio of -36.75 and a beta of 1.41.

iRhythm Technologies (NASDAQ:IRTC – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.04). The company had revenue of $112.62 million for the quarter, compared to analysts’ expectations of $110.62 million. iRhythm Technologies had a negative return on equity of 42.35% and a negative net margin of 24.34%. Sell-side analysts expect that iRhythm Technologies will post -2.82 earnings per share for the current fiscal year.

Insider Activity

In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,726 shares of iRhythm Technologies stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $117.84, for a total value of $203,391.84. Following the completion of the sale, the executive vice president now directly owns 40,759 shares in the company, valued at $4,803,040.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Daniel G. Wilson sold 1,726 shares of the business’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $117.84, for a total transaction of $203,391.84. Following the sale, the executive vice president now directly owns 40,759 shares in the company, valued at approximately $4,803,040.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel G. Wilson sold 4,000 shares of the stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $125.00, for a total value of $500,000.00. Following the transaction, the executive vice president now owns 35,337 shares in the company, valued at $4,417,125. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,317 shares of company stock valued at $1,831,058. 0.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On iRhythm Technologies

A number of hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp purchased a new position in shares of iRhythm Technologies in the 3rd quarter valued at about $49,000. Carmel Capital Partners LLC purchased a new stake in shares of iRhythm Technologies during the 1st quarter valued at approximately $57,000. Parallel Advisors LLC raised its position in shares of iRhythm Technologies by 29.3% during the 4th quarter. Parallel Advisors LLC now owns 736 shares of the company’s stock valued at $69,000 after buying an additional 167 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of iRhythm Technologies during the 2nd quarter valued at approximately $85,000. Finally, ETF Managers Group LLC purchased a new stake in shares of iRhythm Technologies during the 1st quarter valued at approximately $92,000. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

About iRhythm Technologies

(Get Rating)

iRhythm Technologies, Inc is a digital healthcare company, which engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services. It also provides solutions that detect, predict, and prevent disease. The company was founded by Uday N.