The stock price of iRhythm Technologies Inc (NASDAQ: IRTC) has plunged by -8.94 when compared to previous closing price of 70.99, but the company has seen a -8.66% decline in its stock price over the last five trading sessions. zacks.com reported 2024-08-07 that iRhythm Technologies (IRTC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Is It Worth Investing in iRhythm Technologies Inc (NASDAQ: IRTC) Right Now?
IRTC has 36-month beta value of 1.27. Analysts have mixed views 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 30.70M, and currently, short sellers hold a 9.73% ratio of that float. The average trading volume of IRTC on August 13, 2024 was 409.60K shares.
IRTC’s Market Performance
The stock of iRhythm Technologies Inc (IRTC) has seen a -8.66% decrease in the past week, with a -32.80% drop in the past month, and a -34.71% fall in the past quarter. The volatility ratio for the week is 7.37%, and the volatility levels for the past 30 days are at 6.07% for IRTC. The simple moving average for the last 20 days is -26.46% for IRTC stock, with a simple moving average of -35.60% for the last 200 days.
Analysts’ Opinion of IRTC
Many brokerage firms have already submitted their reports for IRTC stocks, with Wolfe Research repeating the rating for IRTC by listing it as a “Outperform.” The predicted price for IRTC in the upcoming period, according to Wolfe Research is $115 based on the research report published on June 20, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see IRTC reach a price target of $110. The rating they have provided for IRTC stocks is “Buy” according to the report published on December 11th, 2023.
Robert W. Baird gave a rating of “Outperform” to IRTC, setting the target price at $130 in the report published on July 19th of the previous year.
IRTC Trading at -30.59% 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 -47.92% of loss for the given period.
Volatility was left at 6.07%, however, over the last 30 days, the volatility rate increased by 7.37%, as shares sank -34.44% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -26.65% lower at present.
During the last 5 trading sessions, IRTC fell by -8.66%, which changed the moving average for the period of 200-days by -19.48% in comparison to the 20-day moving average, which settled at $86.20. In addition, iRhythm Technologies Inc saw -39.61% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at IRTC starting from Bobzien Brice, who sale 1,372 shares at the price of $70.34 back on Aug 09 ’24. After this action, Bobzien Brice now owns 24,428 shares of iRhythm Technologies Inc, valued at $96,506 using the latest closing price.
Patterson Chad, the Chief Commercial Officer of iRhythm Technologies Inc, sale 3,012 shares at $74.66 during a trade that took place back on Aug 02 ’24, which means that Patterson Chad is holding 37,133 shares at $224,876 based on the most recent closing price.
Stock Fundamentals for IRTC
Current profitability levels for the company are sitting at:
- -0.22 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 -0.14. Equity return is now at value -81.46, with -19.51 for asset returns.
Based on iRhythm Technologies Inc (IRTC), the company’s capital structure generated 0.87 points at debt to capital in total, while cash flow to debt ratio is standing at -0.08. The debt to equity ratio resting at 6.66. The interest coverage ratio of the stock is -82.5.
Currently, EBITDA for the company is -91.94 million with net debt to EBITDA at -2.06. When we switch over and look at the enterprise to sales, we see a ratio of 4.11. The receivables turnover for the company is 6.28for trailing twelve months and the total asset turnover is 0.58. The liquidity ratio also appears to be rather interesting for investors as it stands at 6.92.
Conclusion
To put it simply, iRhythm Technologies Inc (IRTC) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. 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.
