On Jan. 05, Vort David A divested U.S. $1,140,431 in shares of iRhythm Technologies Inc.. The EVP, Sales sold 5,000 shares at a price per share of $228.09. The transaction decreased this specific insider’s holdings to 15,602 shares worth around $3.43 million at present.
Oppenheimer took its iRhythm Technologies Inc. [IRTC] rating to the equivalent of a Perform from an Outperform,in a research note dated November 17, 2020. Other analysts also revised their coverage, with Oppenheimer’s analysts downgrading the shares from “an Outperform” rating to “a Perform” rating in a research note to investors issued in mid November. Meanwhile, Needham had launched its coverage on IRTC with “Hold”, in a research note produced for clients September 11, 2020. In addition, there was a new coverage from Robert W. Baird on September 02, 2020. The research firm rated IRTC “a Neutral”.
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Is iRhythm Technologies Inc. [NASDAQ:IRTC] a Good Buy Right Now?
It should be noted that IRTC technical indicators for short, intermediate as well as long term progress have placed an overall average of 24% as Buy. The average signal changed from 72% Buy in the last week and compares with 24% Buy in the past month. Data from iRhythm Technologies Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.42 million shares in the past 20 days and the short term average signal indicates a 50% Sell. In the last 50 days, the average trading volume was 0.43 million shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 50% Buy and the 100-day average volume stands at 0.37 million shares.
IRTC Price Performance
On Wall Street, iRhythm Technologies Inc. [NASDAQ:IRTC] finished Thursday’s session up 0.70% at $220.01. The stock went up to $222.085 at the same session while its lowest single day price was $212.805. In the last five days, it saw a fall of about -6.54%, iRhythm Technologies Inc. shares dropped by almost -7.25% since the beginning of the year. However, the share price has dropped to as low as -19.77% below its one year high. On 01/04/21, the company shares recorded $236.74, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/07/21, the same year at $212.80. The company’s shares have inclined by 211.45% in the past year. The 50-day SMA achieved is $225.01 while the 200-day SMA is $170.81. Volume gained to 0.39 million from 0.36 million in the previous session.
IRTC Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 214.51 level, and in case of violation of this particular level, it will cause more drop to 209.02 level. On the upper level, 227.58 is still the key resistance. The stock may increase to the subsequent resistance at 223.79. The Relative Strength Index (RSI) pinned on the 14-day chart is 46.74, implying a neutral technical stance while the MACD stands at -12.62, meaning price will decrease in the next trading period. Percent R indicator moved to 80.34%, implying bearish price movement. Stochastic %K at 31.67% suggest holding the stock.
What is the short interest in iRhythm Technologies Inc.?
Short interest in the iRhythm Technologies Inc. stock has plunged, decreasing by -0.56 million shares to total 3.92 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 3.36 million, data from Yahoo Finance shows. The increase of 14.29% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 16.69% of the overall float for the stock.
iRhythm Technologies Inc.’s Biggest Shareholders: Who Owns iRhythm Technologies Inc. [IRTC]?
Filings by Brown Capital Management LLC showed that the firm now holds a total of 2,781,715 shares or roughly 9.64% of the outstanding IRTC shares. This means their shares have reduced by -494,590 from the 2,781,715 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $618,355,765. The Norges Bank Investment Management’s holdings currently number 1,529,138 shares at $336425651.38. According to the firm’s last 13F report, T. Rowe Price Associates, Inc. shares in the company at filing stood at 1,392,337 shares, roughly $340,440,320.
IRTC Earnings Forecast For The Current Quarter
iRhythm Technologies Inc. [IRTC] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $76.57M and an earnings per share of -$0.31 for Dec 2020. Looking further ahead, the company is expected to report revenue of $80.52M at an EPS of -$0.26 for Mar 2021. The estimates represent upside of 32.80% and 51.90% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
IRTC Earnings Estimates For The Current Year
For the financial year, iRhythm Technologies Inc. [NASDAQ:IRTC] is expected to bring in revenue of $263.06M. The returns are nearly $48.51 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -1.56, higher than that of FY19 by $0.6. Estimates put this year’s earnings growth at 27.80%, 50.60% for the next. As for sales, forecasts are for an increase of 22.60% in the current fiscal year and a further 32.80% over the following year.
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What are analyst thoughts on iRhythm Technologies Inc.?
Looking forward to the iRhythm Technologies Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for iRhythm Technologies Inc. stock at $243.50 within the next 12 months, which represents almost 9.65 per cent growth from its previous closing price of $220.01. The highest analysts’ target for iRhythm Technologies Inc. stock projections is $273.00 and the lowest one is $170.00. Still, 11 analysts sharing their consensus rating for IRTC stock in 2021 agree that it is an Overweight.
