iRhythm Technologies Inc. [IRTC] Revenue clocked in at $245.50 million, up 219.46% YTD: What’s Next?

iRhythm Technologies Inc. [NASDAQ: IRTC] price surged by 15.70 percent to reach at $29.51. The company report on December 15, 2020 that iRhythm Technologies President and CEO Kevin King to Retire; Michael Coyle Joins Company as President and CEO Effective January 12, 2021.

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iRhythm Technologies, Inc. (NASDAQ: IRTC), a leading digital health care solutions company focused on the advancement of cardiac care, announced that Kevin King will retire as President and CEO effective January 12, 2021. Mr. King will continue to serve on iRhythm’s board of directors and as an advisor to the business. Effective the same date, Mike Coyle will join the company as President and CEO and as a member of its board of directors.

Under King’s leadership, iRhythm successfully completed an IPO in 2016, achieved record financial growth and increased shareholder value significantly. During his tenure, the company’s annual revenue grew from approximately $5 million in 2011 to projected analyst consensus of $263 million in 2020, while increasing its market capitalization from approximately $80 million to more than $5.5 billion over the same time period.

A sum of 1127936 shares traded at recent session while its average daily volume was at 357.72K shares. iRhythm Technologies Inc. shares reached a high of $219.16 and dropped to a low of $189.83 until finishing in the latest session at $217.52.

The one-year IRTC stock forecast points to a potential upside of 6.9. The average equity rating for IRTC stock is currently 1.80, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on iRhythm Technologies Inc. [IRTC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IRTC shares is $233.63 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IRTC stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for iRhythm Technologies Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on November 17, 2020. The new note on the price target was released on September 11, 2020, representing the official price target for iRhythm Technologies Inc. stock. Previously, the target price had yet another raise to $220, while Robert W. Baird analysts kept a Neutral rating on IRTC stock.

The Average True Range (ATR) for iRhythm Technologies Inc. is set at 15.61, with the Price to Sales ratio for IRTC stock in the period of the last 12 months amounting to 26.63. The Price to Book ratio for the last quarter was 18.23, with the Price to Cash per share for the same quarter was set at 10.88.

IRTC Stock Performance Analysis:

iRhythm Technologies Inc. [IRTC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.93. With this latest performance, IRTC shares dropped by -16.71% in over the last four-week period, additionally plugging by 87.48% over the last 6 months – not to mention a rise of 242.50% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IRTC stock in for the last two-week period is set at 51.97, with the RSI for the last a single of trading hit 56.69, and the three-weeks RSI is set at 50.49 for iRhythm Technologies Inc. [IRTC]. The present Moving Average for the last 50 days of trading for this stock 226.04, while it was recorded at 197.80 for the last single week of trading, and 159.35 for the last 200 days.

Insight into iRhythm Technologies Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and iRhythm Technologies Inc. [IRTC] shares currently have an operating margin of -25.52 and a Gross Margin at +75.54. iRhythm Technologies Inc.’s Net Margin is presently recorded at -25.43.

Return on Total Capital for IRTC is now -30.99, given the latest momentum, and Return on Invested Capital for the company is -31.77. Return on Equity for this stock declined to -57.49, with Return on Assets sitting at -25.62. When it comes to the capital structure of this company, iRhythm Technologies Inc. [IRTC] has a Total Debt to Total Equity ratio set at 94.97. Additionally, IRTC Total Debt to Total Capital is recorded at 48.71, with Total Debt to Total Assets ending up at 42.00. Long-Term Debt to Equity for the company is recorded at 87.69, with the Long-Term Debt to Total Capital now at 44.98.

Reflecting on the efficiency of the workforce at the company, iRhythm Technologies Inc. [IRTC] managed to generate an average of -$54,732 per employee. Receivables Turnover for the company is 9.36 with a Total Asset Turnover recorded at a value of 1.01.iRhythm Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.50 and a Current Ratio set at 6.60.

IRTC Stock EPS

With the latest financial reports released by the company, iRhythm Technologies Inc. posted -0.65/share EPS, while the average EPS was predicted by analysts to be reported at -0.53/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -22.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IRTC.

iRhythm Technologies Inc. [IRTC] Insider Position Details

There are presently around $7,046 million, in the hands of institutional investors. The top three institutional holders of IRTC stocks are: BROWN CAPITAL MANAGEMENT LLC with ownership of 2,781,715, which is approximately -15.096% of the company’s market cap and around 1.10% of the total institutional ownership; VANGUARD GROUP INC, holding 2,611,904 shares of the stock with an approximate value of $491.06 million in IRTC stocks shares; and BLACKROCK INC., currently with $388.41 million in IRTC stock with ownership of nearly -2.658% of the company’s market capitalization.

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Positions in iRhythm Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 118 institutional holders increased their position in iRhythm Technologies Inc. [NASDAQ:IRTC] by around 5,483,156 shares. Additionally, 121 investors decreased positions by around 4,372,857 shares, while 20 investors held positions by with 22,535,479 shares. The mentioned changes placed institutional holdings at 32,391,492 shares, according to the latest SEC report filing. IRTC stock had 63 new institutional investments in for a total of 3,282,068 shares, while 24 institutional investors sold positions of 98,565 shares during the same period.

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