iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Free Report)’s share price traded down 2% during trading on Monday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $101.93 and last traded at $102.19. 30,288 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 353,469 shares. The stock had previously closed at $104.32.
Other equities research analysts have also issued research reports about the company. VNET Group reissued a “maintains” rating on shares of iRhythm Technologies in a research note on Friday, May 5th. Oppenheimer lifted their price target on iRhythm Technologies from $125.00 to $165.00 in a research note on Friday, August 4th. Truist Financial dropped their price target on iRhythm Technologies from $155.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, August 7th. Robert W. Baird started coverage on iRhythm Technologies in a research note on Tuesday, July 18th. They set an “outperform” rating and a $130.00 price target for the company. Finally, Canaccord Genuity Group decreased their price objective on iRhythm Technologies from $136.00 to $116.00 and set a “buy” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.30.
Check Out Our Latest Research Report on IRTC
Hedge Funds Weigh In On iRhythm Technologies
iRhythm Technologies Trading Down 3.3 %
The company has a market cap of $3.09 billion, a PE ratio of -30.76 and a beta of 1.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.71 and a quick ratio of 2.55. The company has a 50-day moving average of $104.45 and a 200 day moving average of $114.40.
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.14. The company had revenue of $124.13 million during the quarter, compared to analyst estimates of $120.03 million. iRhythm Technologies had a negative return on equity of 41.92% and a negative net margin of 21.95%. Analysts predict that iRhythm Technologies, Inc. will post -3.03 earnings per share for the current year.
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. 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.
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