While iRhythm Technologies Inc has overperformed by 4.67%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, IRTC fell by -9.41%, with highs and lows ranging from $124.11 to $55.92, whereas the simple moving average jumped by 13.64% in the last 200 days.
On December 03, 2024, Wells Fargo started tracking iRhythm Technologies Inc (NASDAQ: IRTC) recommending Equal Weight. A report published by Goldman on October 04, 2024, Initiated its previous ‘Neutral’ rating for IRTC. Wolfe Research also Upgraded IRTC shares as ‘Outperform’, setting a target price of $115 on the company’s shares in a report dated June 20, 2024. Robert W. Baird initiated its ‘Outperform’ rating for IRTC, as published in its report on July 19, 2023. Wells Fargo’s report from February 07, 2023 suggests a price prediction of $150 for IRTC shares, giving the stock a ‘Overweight’ rating. Wolfe Research also rated the stock as ‘Peer Perform’.
Analysis of iRhythm Technologies Inc (IRTC)
Further, the quarter-over-quarter increase in sales is 18.41%, showing a positive trend in the upcoming months.
In order to gain a clear picture of iRhythm Technologies Inc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -103.34% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 6.12, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 490.65K can be a very valuable indicator of volatility for IRTC stock. On a monthly basis, the volatility of the stock is set at 5.36%, whereas on a weekly basis, it is put at 8.06%, with a gain of 7.27% over the past seven days. Furthermore, long-term investors anticipate a median target price of $108.17, showing growth from the present price of $99.01, which can serve as yet another indication of whether IRTC is worth investing in or should be passed over.
How Do You Analyze iRhythm Technologies Inc Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.60%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 113.63% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
IRTC shares are owned by institutional investors to the tune of 113.63% at present.
