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

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

Several research analysts have commented on IRTC shares. Canaccord Genuity Group raised their target price on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $86.00 target price on shares of iRhythm Technologies in a report on Tuesday, December 3rd. Robert W. Baird decreased their target price 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. Oppenheimer raised their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Finally, Truist Financial raised their target price on shares of iRhythm Technologies from $85.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th.

iRhythm Technologies Stock Performance

NASDAQ:IRTC opened at $111.17 on Friday. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $124.11. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The company has a 50-day moving average of $97.43 and a 200-day moving average of $81.88. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -22.87 and a beta of 1.29.

Insider Transactions at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 2,492 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total transaction of $214,037.88. Following the transaction, the insider now owns 35,327 shares of the company’s stock, valued at approximately $3,034,236.03. This trade represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is owned by insiders.

Hedge Funds Weigh In On iRhythm Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in iRhythm Technologies during the fourth quarter valued at approximately $45,000. Van ECK Associates Corp raised its position in iRhythm Technologies by 41.3% during the fourth quarter. Van ECK Associates Corp now owns 554 shares of the company’s stock valued at $50,000 after acquiring an additional 162 shares in the last quarter. Quarry LP bought a new position in iRhythm Technologies during the third quarter valued at approximately $59,000. Nisa Investment Advisors LLC raised its position in iRhythm Technologies by 166.6% during the fourth 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, KBC Group NV raised its position in iRhythm Technologies by 45.1% during the fourth quarter. KBC Group NV now owns 1,319 shares of the company’s stock valued at $119,000 after acquiring an additional 410 shares in the last quarter.

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.