A share price of iRhythm Technologies Inc [IRTC] is currently trading at $112.64, up 3.98%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The IRTC shares have gain 10.12% over the last week, with a monthly amount glided 7.20%, and seem to be holding up well over a long-time horizon.
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On 8, March 2024, iRhythm Announces Closing of $661.25 Million of 1.50% Convertible Senior Notes Due 2029, Including Full Exercise of Initial Purchasers’ $86.25 Million Option to Purchase Additional Notes. In a post published today on Yahoo Finance, iRhythm Technologies, Inc. (“iRhythm”) (NASDAQ: IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict and help prevent disease, announced today the closing of its offering of 1.50% Convertible Senior Notes due 2029 (the “notes”) for gross proceeds of $661.25 million in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The proceeds include the full exercise of the option granted by iRhythm to the initial purchasers of the notes to purchase up to an additional $86.25 million aggregate principal amount of notes.
From an analyst’s perspective:
iRhythm Technologies Inc [NASDAQ: IRTC] stock has seen the most recent analyst activity on December 11, 2023, when Citigroup upgraded its rating to a Buy but kept the price target unchanged to $110 for it. Previously, Robert W. Baird started tracking the stock with Outperform rating on July 19, 2023, and set its price target to $130. On February 07, 2023, Wells Fargo initiated with a Overweight rating and assigned a price target of $150 on the stock. Wolfe Research upgraded its rating to a Peer Perform. Citigroup downgraded its rating to a Neutral and reduced its price target to $155 on June 09, 2022. Wolfe Research started tracking with a Underperform rating for this stock on April 06, 2022, and assigned it a price target of $105. In a note dated February 24, 2022, Needham upgraded an Buy rating on this stock but restated the target price of $135.
iRhythm Technologies Inc experienced fluctuations in its stock price throughout the past year between $70.24 and $140.23. Currently, Wall Street analysts expect the stock to reach $158.88 within the next 12 months. iRhythm Technologies Inc [NASDAQ: IRTC] shares were valued at $112.64 at the most recent close of the market. An investor can expect a potential return of 41.05% based on the average IRTC price forecast.
Analyzing the IRTC fundamentals
Trailing Twelve Months sales for iRhythm Technologies Inc [NASDAQ:IRTC] were 492.68M which represents 17.67% growth. Gross Profit Margin for this corporation currently stands at 0.67% with Operating Profit Margin at -0.23%, Pretax Profit Margin comes in at -0.25%, and Net Profit Margin reading is -0.25%. To continue investigating profitability, this company’s Return on Assets is posted at -0.28, Equity is -0.56 and Total Capital is -0.35. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.24.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 110.03 points at the first support level, and at 107.41 for the second support level. However, for the 1st resistance point, the stock is sitting at 114.12, and for the 2nd resistance point, it is at 115.59.
iRhythm Technologies Inc [IRTC] reported earnings per share of -$1.26 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.6/share, meaning a difference of -$0.66 and a surprise factor of -110.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.89 per share as compared to estimates of -$0.66 per share, a difference of -$0.23 representing a surprise of -34.80%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for iRhythm Technologies Inc [NASDAQ:IRTC] is 2.15. In addition, the Quick Ratio stands at 2.02 and the Cash Ratio stands at 0.34. Considering the valuation of this stock, the price to sales ratio is 7.08, the price to book ratio is 16.60.
Transactions by insiders
Recent insider trading involved Blackford Quentin S., President and CEO, that happened on Mar 04 ’24 when 4221.0 shares were sold. Chief Technology Officer, Day Mark J. completed a deal on Mar 04 ’24 to sell 3248.0 shares. Meanwhile, EVP, Corp Dev Inv Rel Wilson Daniel G. sold 2452.0 shares on Mar 04 ’24.
