iRhythm Technologies, Inc. (NASDAQ:IRTC) Given Consensus Recommendation of “Moderate Buy” by Analysts

iRhythm Technologies, Inc. (NASDAQ:IRTC) has been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $108.45.

Several equities analysts have recently issued reports on IRTC shares. Robert W. Baird reduced their price target on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Needham & Company LLC upped their target price on shares of iRhythm Technologies from $96.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Truist Financial lifted their price target on iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company reissued an “equal weight” rating and issued a $86.00 price objective on shares of iRhythm Technologies in a report on Tuesday, December 3rd. Finally, Canaccord Genuity Group lifted their target price on iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, December 9th.

Insider Activity

In other news, insider Patrick Michael Murphy sold 2,492 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total transaction of $214,037.88. Following the completion of the sale, the insider now directly owns 35,327 shares of the company’s stock, valued at $3,034,236.03. This trade represents a 6.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On iRhythm Technologies

Hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new position in iRhythm Technologies in the 4th quarter worth about $45,000. Van ECK Associates Corp increased its position in shares of iRhythm Technologies by 41.3% in the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock worth $50,000 after acquiring an additional 162 shares in the last quarter. Quarry LP acquired a new stake in shares of iRhythm Technologies during the third quarter valued at approximately $59,000. Nisa Investment Advisors LLC lifted its position in shares of iRhythm Technologies by 166.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,037 shares of the company’s stock valued at $94,000 after acquiring an additional 648 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in iRhythm Technologies in the 3rd quarter worth approximately $119,000.

iRhythm Technologies Trading Down 0.1 %

NASDAQ:IRTC opened at $112.11 on Friday. The firm has a market capitalization of $3.51 billion, a P/E ratio of -23.07 and a beta of 1.29. The business has a 50 day simple moving average of $98.53 and a 200 day simple moving average of $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. iRhythm Technologies has a 12-month low of $55.92 and a 12-month high of $124.11.

About iRhythm Technologies

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.