iRhythm Technologies Inc (IRTC) Stock: Analyzing the Quarterly Movement

The stock of iRhythm Technologies Inc (IRTC) has seen a -6.52% decrease in the past week, with a -1.42% drop in the past month, and a 6.08% flourish in the past quarter. The volatility ratio for the week is 3.55%, and the volatility levels for the past 30 days are at 3.50% for IRTC. The simple moving average for the past 20 days is -1.29% for IRTC’s stock, with a 7.04% simple moving average for the past 200 days.

Is It Worth Investing in iRhythm Technologies Inc (NASDAQ: IRTC) Right Now?

Company’s 36-month beta value is 1.32.Analysts have differing opinions on the stock, with 2 analysts rating it as a “buy,” 1 as “overweight,” 1 as “hold,” and 0 as “sell.”

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The public float for IRTC is 30.42M, and currently, short sellers hold a 8.11% ratio of that floaft. The average trading volume of IRTC on April 04, 2024 was 431.82K shares.

IRTC) stock’s latest price update

The stock price of iRhythm Technologies Inc (NASDAQ: IRTC) has plunged by -1.60 when compared to previous closing price of 109.25, but the company has seen a -6.52% decline in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-02-22 that IRhythm Technologies (IRTC) came out with a quarterly loss of $1.26 per share versus the Zacks Consensus Estimate of a loss of $0.60. This compares to loss of $0.67 per share a year ago.

Analysts’ Opinion of IRTC

Many brokerage firms have already submitted their reports for IRTC stocks, with Citigroup repeating the rating for IRTC by listing it as a “Buy.” The predicted price for IRTC in the upcoming period, according to Citigroup is $110 based on the research report published on December 11, 2023 of the previous year 2023.

Robert W. Baird, on the other hand, stated in their research note that they expect to see IRTC reach a price target of $130. The rating they have provided for IRTC stocks is “Outperform” according to the report published on July 19th, 2023.

Wells Fargo gave a rating of “Overweight” to IRTC, setting the target price at $150 in the report published on February 07th of the previous year.

IRTC Trading at -5.33% from the 50-Day Moving Average

After a stumble in the market that brought IRTC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -23.34% of loss for the given period.

Volatility was left at 3.50%, however, over the last 30 days, the volatility rate increased by 3.55%, as shares surge +0.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.32% lower at present.

During the last 5 trading sessions, IRTC fell by -6.52%, which changed the moving average for the period of 200-days by +3.64% in comparison to the 20-day moving average, which settled at $108.91. In addition, iRhythm Technologies Inc saw 0.43% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at IRTC starting from Blackford Quentin S., who sale 4,221 shares at the price of $111.14 back on Mar 04 ’24. After this action, Blackford Quentin S. now owns 175,794 shares of iRhythm Technologies Inc, valued at $469,122 using the latest closing price.

Day Mark J., the Chief Technology Officer of iRhythm Technologies Inc, sale 3,248 shares at $111.14 during a trade that took place back on Mar 04 ’24, which means that Day Mark J. is holding 61,164 shares at $360,983 based on the most recent closing price.

Stock Fundamentals for IRTC

Current profitability levels for the company are sitting at:

  • -0.23 for the present operating margin
  • 0.67 for the gross margin

The net margin for iRhythm Technologies Inc stands at -0.25. The total capital return value is set at -0.35. Equity return is now at value -54.86, with -28.00 for asset returns.

Based on iRhythm Technologies Inc (IRTC), the company’s capital structure generated 0.19 points at debt to capital in total, while cash flow to debt ratio is standing at -1.0. The debt to equity ratio resting at 0.24. The interest coverage ratio of the stock is -31.26.

Currently, EBITDA for the company is -91.94 million with net debt to EBITDA at -1.01. When we switch over and look at the enterprise to sales, we see a ratio of 6.95. The receivables turnover for the company is 8.01for trailing twelve months and the total asset turnover is 1.14. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.15.

Conclusion

In a nutshell, iRhythm Technologies Inc (IRTC) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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