During the last session, iRhythm Technologies Inc (NASDAQ:IRTC)’s traded shares were 0.58 million, with the beta value of the company hitting 1.22. At the end of the trading day, the stock’s price was $70.00, reflecting an intraday loss of -4.21% or -$3.08. The 52-week high for the IRTC share is $124.11, that puts it down -77.3 from that peak though still a striking 13.03% gain since the share price plummeted to a 52-week low of $60.88. The company’s market capitalization is $2.19B, and the average intraday trading volume over the past 10 days was 0.46 million shares, and the average trade volume was 478.75K shares over the past three months.
iRhythm Technologies Inc (IRTC) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.08. IRTC has a Sell rating from 0 analyst(s) out of 17 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 14 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 -0.57.
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iRhythm Technologies Inc (NASDAQ:IRTC) trade information
iRhythm Technologies Inc (IRTC) registered a -4.21% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -4.21% in intraday trading to $70.00, hitting a weekly high. The stock’s 5-day price performance is -8.63%, and it has moved by -0.95% in 30 days. Based on these gigs, the overall price performance for the year is -21.67%. The short interest in iRhythm Technologies Inc (NASDAQ:IRTC) is 2.48 million shares and it means that shorts have 4.13 day(s) to cover.
The consensus price target of analysts on Wall Street is $131.5, which implies an increase of 46.77% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $110 and $198 respectively. As a result, IRTC is trading at a discount of -182.86% off the target high and -57.14% 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 down -36.07% during the last six months, with a year-to-date growth rate more than the industry average at 34.16% against 22.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 36.00% this quarter and then jump 75.40% in the quarter after that. In the rating firms’ projections, revenue will increase 18.90% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 146.88M as predicted by 11 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to 158.65M by the end of current fiscal year.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -13.90%. While earnings are projected to return 30.14% in 2024.
IRTC Dividends
iRhythm Technologies Inc is due to release its next quarterly earnings on 2024-Oct-31. 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 0.82% of total outstanding shares while institutional holders control 116.12%, with the float percentage being 117.08%. VANGUARD GROUP INC is the largest shareholder of the company, while 331.0 institutions own stock in it. As of 2024-06-30, the company held over 2.98 million shares (or 9.5734% of all shares), a total value of $320.94 million in shares.
The next largest institutional holding, with 2.69 million shares, is of ARTISAN PARTNERS LIMITED PARTNERSHIP’s that is approximately 8.6219% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $289.04 million.
