iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) have been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $108.45.

A number of brokerages have issued reports on IRTC. Needham & Company LLC lifted their target price on shares of iRhythm Technologies from $96.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Robert W. Baird cut their price objective on iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Wells Fargo & Company restated an “equal weight” rating and issued a $86.00 target price on shares of iRhythm Technologies in a research note on Tuesday, December 3rd. Oppenheimer raised their price target on iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Finally, Truist Financial boosted their price target on iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th.

Insiders Place Their Bets

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of iRhythm Technologies stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the transaction, the insider now directly owns 35,327 shares of the company’s stock, valued at $3,034,236.03. The trade was a 6.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On iRhythm Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in iRhythm Technologies by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 3,136,370 shares of the company’s stock valued at $282,806,000 after purchasing an additional 18,442 shares during the period. State Street Corp grew its position in iRhythm Technologies by 1.3% during the third quarter. State Street Corp now owns 908,843 shares of the company’s stock worth $67,473,000 after buying an additional 11,992 shares in the last quarter. Braidwell LP grew its position in iRhythm Technologies by 48.7% during the third quarter. Braidwell LP now owns 782,557 shares of the company’s stock worth $58,097,000 after buying an additional 256,200 shares in the last quarter. Eventide Asset Management LLC raised its holdings in iRhythm Technologies by 170.8% in the 3rd quarter. Eventide Asset Management LLC now owns 736,721 shares of the company’s stock valued at $54,694,000 after acquiring an additional 464,629 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of iRhythm Technologies by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 733,308 shares of the company’s stock worth $54,451,000 after acquiring an additional 5,423 shares during the period.

iRhythm Technologies Trading Down 0.1 %

NASDAQ:IRTC opened at $112.11 on Friday. The stock’s 50-day moving average is $98.53 and its two-hundred day moving average is $82.30. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The stock has a market cap of $3.51 billion, a PE ratio of -23.07 and a beta of 1.29. iRhythm Technologies has a fifty-two week low of $55.92 and a fifty-two week high of $124.11.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.