iRhythm Technologies, Inc. (NASDAQ:IRTC) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC - Get Free Report) have earned an average rating of "Moderate Buy" from the eleven brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $108.45.

A number of analysts recently issued reports on IRTC shares. Wells Fargo & Company restated an "equal weight" rating and set a $86.00 price objective on shares of iRhythm Technologies in a report on Tuesday, December 3rd. Canaccord Genuity Group lifted their price objective 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. Oppenheimer boosted their price target on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 8th. Needham & Company LLC boosted their price objective on shares of iRhythm Technologies from $96.00 to $112.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Robert W. Baird lowered their price objective 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.

iRhythm Technologies Stock Down 2.4 %

Shares of IRTC traded down $2.61 during trading hours on Friday, reaching $106.89. 262,525 shares of the stock traded hands, compared to its average volume of 418,642. iRhythm Technologies has a 52 week low of $55.92 and a 52 week 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 stock has a fifty day simple moving average of $97.01 and a 200 day simple moving average of $81.75. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -21.99 and a beta of 1.29.

Insider Buying and Selling

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the company's stock in a transaction that occurred 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 sale, the insider now owns 35,327 shares in the company, valued at $3,034,236.03. This represents a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On iRhythm Technologies

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