iRhythm Technologies (NASDAQ:IRTC) Receives Average Rating of “Moderate Buy” from Analysts

iRhythm Technologies (NASDAQ:IRTC) has been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eleven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $219.2308.

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of iRhythm Technologies from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Thursday, January 22nd. Loop Capital set a $220.00 price objective on shares of iRhythm Technologies in a report on Friday, October 31st. Evercore raised shares of iRhythm Technologies from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $194.00 to $210.00 in a report on Monday, January 5th. Finally, Citigroup upped their target price on shares of iRhythm Technologies from $205.00 to $242.00 and gave the company a “buy” rating in a research report on Friday, October 31st.

Insider Transactions at iRhythm Technologies

In other news, insider Patrick Michael Murphy sold 2,478 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total value of $458,008.74. Following the completion of the sale, the insider directly owned 53,281 shares of the company’s stock, valued at $9,847,927.23. This represents a 4.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Chad Patterson sold 280 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total transaction of $51,752.40. Following the transaction, the insider owned 43,387 shares of the company’s stock, valued at approximately $8,019,219.21. This represents a 0.64% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On iRhythm Technologies

Hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC acquired a new position in shares of iRhythm Technologies in the 3rd quarter valued at $30,000. Measured Wealth Private Client Group LLC bought a new position in iRhythm Technologies during the third quarter worth about $30,000. GAMMA Investing LLC grew its stake in iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after acquiring an additional 60 shares during the period. Smartleaf Asset Management LLC grew its stake in iRhythm Technologies by 100.0% in the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after acquiring an additional 99 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of iRhythm Technologies in the third quarter worth about $34,000.

iRhythm Technologies Stock Up 2.9%

NASDAQ IRTC opened at $148.32 on Wednesday. The stock has a market capitalization of $4.78 billion, a P/E ratio of -92.12 and a beta of 1.06. iRhythm Technologies has a 52 week low of $92.52 and a 52 week high of $212.00. The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.50 and a current ratio of 4.63. The stock has a fifty day moving average of $165.58 and a 200-day moving average of $171.60.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.