iRhythm Technologies, Inc. (NASDAQ:IRTC) short sellers believe it will decline in price. The most recent short interest data has been released for the January 31st settlement date, which shows a 54,137 share increase in total short interest for IRTC, to 2,782,767, a surge of 1.98% since January 15th. Average daily volume for iRhythm Technologies, Inc. at the January 31st settlement plunged to 296,794, as compared to 319,996 at the January 15th report. That brought days to cover to 9.376089, a 9.96% increase from the 8.527075 days to cover recorded at the prior short interest data release. You could look at analyst ratings. The average analyst recommendations at 0 suggests selling these shares. But the opinions of a small number of people, though sometimes influential, doesn’t always speak for the hundreds of thousands of traders on Wall Street.
Analysts are forecasting revenue to climb 42.7 percent to $40.21M in the next fiscal quarter, while earnings are seen soaring by nearly -8.33 percent to -$0.44 per share. History has shown that shares in iRhythm Technologies, Inc. have gone up on 5 different earnings reaction days and are predicted to add 0.05 percent when the company reports upcoming earnings. In last reported earnings results, it earned -$0.43 per share, better than the -$0.45, adjusted, expected by Thomson Reuters consensus estimate. Revenue was $43.15M, better than the $40.21M analysts expected. Earnings are estimated to increase by 67.1 percent this year, 17.7 percent next year and continue to increase by 0 percent annually for the next 5 years.
iRhythm Technologies, Inc. (IRTC) will probably climb -0.96 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $111 price as 12-month high target. This represents a whopping 22.6 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $96, which represents a return potential of 6.03 percent when compared to the closing price of the stock of $90.54 on Wednesday, February 13. The lowest price target for the stock is $60 — slightly more than -33.73 percent from IRTC’s current share price.
The stock is currently hovering around the first support level of $88.2. Below this, the next support is placed in the zone of $85.85. Till the time, the IRTC stock trades above this level, bulls have nothing to fear. On momentum oscillators front, ‘RSI’ has touched 68.25 on daily chart, which may remain a cause for concern. If the price breaks below $85.85 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $94.79 mark may result into a pull-back move towards $99.03 level.
On 13th of February, iRhythm Technologies, Inc. (NASDAQ:IRTC) shares ended higher after a volatile session. The shares accumulated 6.22 points or 7.38 percent at $90.54 with a light trade volume of 1.133 million shares. After opening the session at $90.1, the shares went as high as $96.6899 and as low as $90.1, the range within which the stock’s price traded throughout the day. The firm is left with a market cap of $2.18 billion and now has 24.06 million shares outstanding. iRhythm Technologies, Inc. (IRTC) stock has gained 13.89 percent of market value in 21 trading days.
IRTC stock has a trailing 3-year beta of 0, offering the possibility of a lower rate of return, but also posing less risk. The portion of a company’s profit allocated to each outstanding share of common stock was -$1.89 a share in the trailing twelve months. The stock’s value has surged 30.31 percent year to date (YTD) against a rise of 52.24 percent in 12 month’s time. The company’s shares still trade -7.96 percent away from its 1-year high of $98.37 and 64.08 percent up from 52-week low of $55.18. The average consensus rating on the company is 0, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a buy.
Shares of iRhythm Technologies, Inc. (IRTC) are trading at a P/E ratio of 0 times earnings reported for the past 12 months. The industry IRTC operates in has an average P/E of 70.14. Its P/E ratio went as low as 0X and as high as 0 over the 5-year span. Further, it is sporting a 16.46 on the Price-to-Sales ratio. Compare this with the industry average P/S of 11.78. 73 percent is the gross profit margin for iRhythm Technologies, Inc. and operating margin sits at -32.2 percent. Along with this, the net profit margin is -33.8 percent.
Let’s take a look at some insider activity at iRhythm Technologies, Inc. (NASDAQ:IRTC) and see the pattern. The earliest insider trade took place on 01/30/2019. Sung Derrick parted with a total of 2 thousand shares of company at average share price of $84. The total for the sales was set at $168 thousand. After this transaction, the EVP, Strat Corp Development account balance stood at 25.26 thousand shares. The stock grew 7.79 percent since that insider sale. On 01/29/2019, Sung Derrick, EVP, Strat Corp Development, sold 10.13 thousand shares at a price per share of $84.03. This removed 850.8 thousand shares from the insider’s fortune and the stock saw a 7.75 percent rally in value since the news became public. This transaction left 25.26 thousand shares in the EVP, Strat Corp Development account.
On 01/16/2019, CFO Garrett Matthew C. performed a sale transaction worth $1.72 million. This sale at $85 each has eliminated 20.2 thousand shares from the insider’s portfolio position. Meanwhile, shares have recorded 6.52 percent increase since the transaction was reported. The insider now is left with 20.2 thousand shares remaining in the account. Vort David A, who performs the EVP, Sales job, sold 5.18 thousand shares for $379.45 thousand. The disposal occurred on 12/07/2018 was priced at $73.31 per share. The share price soared 23.5 percent since the reporting date. Vort David A now left with a stake of 21.14 thousand IRTC stock worth $1.91 million after the insider selling.