iRhythm Technologies Inc (NASDAQ:IRTC) price on Friday, January 17, rose 1.25% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $108.33.
A look at the stock’s price movement, the close in the last trading session was $106.99, moving within a range at $105.735 and $108.99. The beta value (5-Year monthly) was 1.229. Turning to its 52-week performance, $124.11 and $55.92 were the 52-week high and 52-week low respectively. Overall, IRTC moved 19.89% over the past month.
iRhythm Technologies Inc’s market cap currently stands at around $3.39 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 158.15M for the company’s revenue for the quarter, with a low and high estimate of 156.83M and 162.6M respectively. The average forecast suggests up to a 19.35% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 585.95M, representing a 18.93% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that IRTC is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
17 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 14 recommend IRTC as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
IRTC’s current price about 16.25% and 23.09% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 72.58, while 7-day volatility ratio is 6.56% and 5.27% in the 30-day chart. Further, iRhythm Technologies Inc (IRTC) has a beta value of 1.27, and an average true range (ATR) of 5.03. Analysts have given the company’s stock an average 52-week price target of $100, forecast between a low of $78 and high of $137. Looking at the price targets, the low is 28.0% off current price level while to achieve the yearly target high, price needs to move -26.47%. Nonetheless, investors will most likely welcome a 7.69% jump to $100 which is the analysts’ median price.
If we refocus on iRhythm Technologies Inc (NASDAQ:IRTC), historical trading data shows that trading volumes averaged 0.49 over the past 10 days and 495.11K over the past 3 months. The company’s latest data on shares outstanding shows there are 31.29 million shares.
The 1.60% of iRhythm Technologies Inc’s shares are in the hands of company insiders while institutional holders own 113.64% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.24 million on 2024-12-31, giving us a short ratio of 7.67. The data shows that as of 2024-12-31 short interest in iRhythm Technologies Inc (IRTC) stood at 718.0000000000001 of shares outstanding, with shares short rising to 2.12 million registered in 2024-11-29. Current price change has pushed the stock 20.14% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the IRTC stock continues to rise going into the next quarter.
