Irhythm Technologies (NASDAQ:IRTC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, January 3rd.

According to Zacks, “iRhythm Technologies, Inc. is a digital healthcare company. It focuses on the provision of ambulatory electrocardiogram, monitoring for patients at risk for arrhythmias primarily in the United States. The company offers ZIO Service, a platform which provides wearable biosensor with cloud-based data analytics that distill data from heartbeats into clinically actionable information. iRhythm Technologies, Inc. is headquartered in San Francisco, California. “

A number of other equities analysts have also recently weighed in on the stock. Royal Bank of Canada initiated coverage on shares of Irhythm Technologies in a research report on Monday, December 4th. They set an “outperform” rating and a $79.00 price target on the stock. Canaccord Genuity restated a “buy” rating and set a $59.00 price objective on shares of Irhythm Technologies in a report on Tuesday, November 14th. BidaskClub lowered shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Morgan Stanley raised their price objective on shares of Irhythm Technologies from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Finally, Dougherty & Co assumed coverage on shares of Irhythm Technologies in a report on Friday, December 1st. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $65.25.

Irhythm Technologies (NASDAQ IRTC) opened at $59.77 on Wednesday. Irhythm Technologies has a 52 week low of $31.01 and a 52 week high of $66.20. The stock has a market cap of $1,404.17, a P/E ratio of -50.22 and a beta of 2.79. The company has a quick ratio of 7.57, a current ratio of 7.65 and a debt-to-equity ratio of 0.38.

Irhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.05. The firm had revenue of $25.04 million for the quarter, compared to analysts’ expectations of $24.30 million. Irhythm Technologies had a negative net margin of 27.56% and a negative return on equity of 27.67%. The business’s revenue for the quarter was up 49.2% on a year-over-year basis. During the same period last year, the firm earned ($2.80) earnings per share. equities research analysts predict that Irhythm Technologies will post -1.17 EPS for the current year.

In other news, insider Kevin M. King sold 60,000 shares of Irhythm Technologies stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $51.85, for a total value of $3,111,000.00. Following the completion of the transaction, the insider now owns 103,042 shares of the company’s stock, valued at approximately $5,342,727.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Vijay K. Lathi sold 225,000 shares of Irhythm Technologies stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $52.10, for a total transaction of $11,722,500.00. The disclosure for this sale can be found here. Insiders sold a total of 536,533 shares of company stock worth $28,333,506 over the last quarter. Company insiders own 23.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC grew its position in shares of Irhythm Technologies by 0.9% in the 4th quarter. Jennison Associates LLC now owns 96,416 shares of the company’s stock valued at $5,404,000 after acquiring an additional 878 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Irhythm Technologies by 7.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 82,208 shares of the company’s stock worth $4,608,000 after buying an additional 5,622 shares during the period. Perceptive Advisors LLC boosted its holdings in shares of Irhythm Technologies by 31.8% during the 3rd quarter. Perceptive Advisors LLC now owns 372,671 shares of the company’s stock worth $19,335,000 after buying an additional 89,814 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Irhythm Technologies by 67.0% during the 3rd quarter. Wells Fargo & Company MN now owns 609,187 shares of the company’s stock worth $31,604,000 after buying an additional 244,411 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Irhythm Technologies by 9,692.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 313,371 shares of the company’s stock worth $16,220,000 after buying an additional 310,171 shares during the period. 97.56% of the stock is owned by institutional investors.

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Irhythm Technologies Company Profile

iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.

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