iRhythm Technologies Inc. (NASDAQ: IRTC): Can A Stock That’s Up 18.14% YTD Still Be Considered In Loss Territory? – Marketing Sentinel
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iRhythm Technologies Inc. (NASDAQ: IRTC): Can A Stock That’s Up 18.14% YTD Still Be Considered In Loss Territory?

During the last session, iRhythm Technologies Inc. (NASDAQ:IRTC)’s traded shares were 0.55 million, with the beta value of the company hitting 1.23. At the end of the trading day, the stock’s price was $139.04, reflecting an intraday gain of 7.14% or $9.26. The 52-week high for the IRTC share is $169.54, that puts it down -21.94 from that peak though still a striking 70.04% gain since the share price plummeted to a 52-week low of $41.66. The company’s market capitalization is $3.91B, and the average intraday trading volume over the past 10 days was 0.51 million shares, and the average trade volume was 370.66K shares over the past three months.

iRhythm Technologies Inc. (IRTC) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.20. IRTC has a Sell rating from 1 analyst(s) out of 10 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 9 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$1.18.

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iRhythm Technologies Inc. (NASDAQ:IRTC) trade information

iRhythm Technologies Inc. (IRTC) registered a 7.14% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 7.14% in intraday trading to $139.04 this Friday, 05/13/22, hitting a weekly high. The stock’s 5-day price performance is 11.26%, and it has moved by -6.14% in 30 days. Based on these gigs, the overall price performance for the year is 71.00%. The short interest in iRhythm Technologies Inc. (NASDAQ:IRTC) is 0.98 million shares and it means that shorts have 2.84 day(s) to cover.

The consensus price target of analysts on Wall Street is $175.78, which implies an increase of 20.9% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $110.00 and $200.00 respectively. As a result, IRTC is trading at a discount of -43.84% off the target high and 20.89% off the low.

iRhythm Technologies Inc. (IRTC) estimates and forecasts

Statistics show that iRhythm Technologies Inc. has outperformed its competitors in share price, compared to the industry in which it operates. iRhythm Technologies Inc. (IRTC) shares have gone up 30.66% during the last six months, with a year-to-date growth rate more than the industry average at 5.49% against -2.00. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -257.60% this quarter and then jump 7.40% in the quarter after that. In the rating firms’ projections, revenue will increase 20.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $77.57 million as predicted by 8 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $82 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $78.81 million and $74.31 million respectively. In this case, analysts expect current quarter sales to shrink by -1.60% and then jump by 10.30% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 2.70%. While earnings are projected to return -118.80% in 2022.

IRTC Dividends

iRhythm Technologies Inc. is due to release its next quarterly earnings between February 23 and February 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

iRhythm Technologies Inc. (NASDAQ:IRTC)’s Major holders

iRhythm Technologies Inc. insiders own 1.70% of total outstanding shares while institutional holders control 99.50%, with the float percentage being 101.22%. Sands Capital Management, LLC is the largest shareholder of the company, while 278 institutions own stock in it. As of Sep 29, 2021, the company held over 3.29 million shares (or 11.19% of all shares), a total value of $192.86 million in shares.

The next largest institutional holding, with 2.66 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 9.05% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $156.0 million.

Also, the Mutual Funds coming in first place with the largest holdings of iRhythm Technologies Inc. (IRTC) shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. Data provided on Sep 29, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 0.78 million shares. This amounts to just over 2.67 percent of the company’s overall shares, with a $45.95 million market value. The same data shows that the other fund manager holds slightly less at 0.7 million, or about 2.37% of the stock, which is worth about $40.76 million.

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