News stories about IRHYTHM TECH (NASDAQ:IRTC) have trended somewhat positive on Saturday, according to Accern Sentiment. The research group rates the sentiment of news coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. IRHYTHM TECH earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned headlines about the company an impact score of 46.1761069109184 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Several research firms recently commented on IRTC. Zacks Investment Research lowered IRHYTHM TECH from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Canaccord Genuity reissued a “buy” rating and set a $42.00 price target on shares of IRHYTHM TECH in a research report on Tuesday, June 6th. Finally, Morgan Stanley boosted their price target on IRHYTHM TECH from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $37.75.
IRHYTHM TECH (NASDAQ IRTC) traded up 1.89% during trading on Friday, reaching $44.68. The company had a trading volume of 169,720 shares. The stock has a 50 day moving average of $42.69 and a 200-day moving average of $37.86. IRHYTHM TECH has a 12 month low of $22.16 and a 12 month high of $45.98. The company’s market capitalization is $1.02 billion.
IRHYTHM TECH (NASDAQ:IRTC) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.02. The firm had revenue of $23.85 million during the quarter, compared to analysts’ expectations of $22.10 million. IRHYTHM TECH had a negative return on equity of 57.23% and a negative net margin of 27.34%. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. Equities research analysts expect that IRHYTHM TECH will post ($1.13) EPS for the current fiscal year.
In other IRHYTHM TECH news, Director Raymond W. Scott sold 52,903 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $43.59, for a total value of $2,306,041.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Synergy Life Science Partners sold 350,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $37.43, for a total value of $13,100,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 968,613 shares of company stock valued at $37,277,615. Insiders own 23.30% of the company’s stock.
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About IRHYTHM TECH
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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