Somewhat Positive Press Coverage Somewhat Unlikely to Impact Irhythm Tech (IRTC) Share Price
Media stories about Irhythm Tech (NASDAQ:IRTC) have been trending somewhat positive this week, according to Accern Sentiment. Accern scores the sentiment of press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Irhythm Tech earned a media sentiment score of 0.16 on Accern’s scale. Accern also assigned media stories about the company an impact score of 46.133657905569 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Shares of Irhythm Tech (NASDAQ:IRTC) opened at 44.07 on Friday. The company’s market capitalization is $1.00 billion. Irhythm Tech has a 1-year low of $22.16 and a 1-year high of $45.98. The firm’s 50-day moving average is $42.21 and its 200-day moving average is $37.37.
Irhythm Tech (NASDAQ:IRTC) last released its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.02. The business had revenue of $23.85 million during the quarter, compared to analyst estimates of $22.10 million. Irhythm Tech had a negative net margin of 27.34% and a negative return on equity of 57.23%. The firm’s revenue was up 51.6% on a year-over-year basis. Analysts forecast that Irhythm Tech will post ($1.13) earnings per share for the current fiscal year.
A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Irhythm Tech from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. 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 lifted their price target on shares of Irhythm Tech from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $37.75.
In other Irhythm Tech news, Director Vijay K. Lathi sold 430,624 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $37.59, for a total transaction of $16,187,156.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vijay K. Lathi sold 645,000 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $34.70, for a total transaction of $22,381,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,613,613 shares of company stock valued at $59,659,115. Insiders own 23.30% of the company’s stock.
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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