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

iRhythm Technologies, Inc. (NASDAQ:IRTC) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $108.45.

Several research analysts have commented on IRTC shares. Canaccord Genuity Group boosted their target price on iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Oppenheimer upped their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Needham & Company LLC raised their target price on shares of iRhythm Technologies from $96.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Robert W. Baird decreased their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Truist Financial increased 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.

Insider Activity

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 completion of the sale, the insider now directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. The trade was a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On iRhythm Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. increased its position in iRhythm Technologies by 272.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 79,938 shares of the company’s stock valued at $5,935,000 after buying an additional 58,448 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in iRhythm Technologies in the third quarter valued at approximately $1,497,000. Eagle Asset Management Inc. increased its holdings in shares of iRhythm Technologies by 44.9% during the third quarter. Eagle Asset Management Inc. now owns 100,655 shares of the company’s stock valued at $7,473,000 after acquiring an additional 31,193 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of iRhythm Technologies by 38.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 707,175 shares of the company’s stock worth $52,501,000 after purchasing an additional 195,246 shares during the period. Finally, Barclays PLC lifted its holdings in shares of iRhythm Technologies by 34.3% in the 3rd quarter. Barclays PLC now owns 209,247 shares of the company’s stock worth $15,534,000 after purchasing an additional 53,498 shares in the last quarter.

iRhythm Technologies Price Performance

iRhythm Technologies stock opened at $110.00 on Friday. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27. iRhythm Technologies has a 52 week low of $55.92 and a 52 week high of $124.11. The stock has a market capitalization of $3.44 billion, a P/E ratio of -22.63 and a beta of 1.29. The stock has a fifty day moving average of $96.12 and a 200-day moving average of $81.81.

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.