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

Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $131.33.

IRTC has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on shares of iRhythm Technologies from $149.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, October 11th. StockNews.com downgraded shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Needham & Company LLC cut their target price on shares of iRhythm Technologies from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Citigroup cut their target price on shares of iRhythm Technologies from $115.00 to $100.00 in a research note on Monday, October 2nd. Finally, Truist Financial cut their target price on shares of iRhythm Technologies from $155.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, August 7th.

iRhythm Technologies Stock Performance

Shares of IRTC opened at $83.59 on Thursday. The firm has a 50-day moving average of $84.00 and a 200-day moving average of $99.69. iRhythm Technologies has a one year low of $70.24 and a one year high of $140.23. The company has a market cap of $2.56 billion, a PE ratio of -24.16 and a beta of 1.32. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.16.

Hedge Funds Weigh In On iRhythm Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in IRTC. US Bancorp DE raised its position in shares of iRhythm Technologies by 3.7% in the 1st quarter. US Bancorp DE now owns 4,012 shares of the company’s stock valued at $632,000 after buying an additional 144 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of iRhythm Technologies by 49.2% in the 1st quarter. MetLife Investment Management LLC now owns 15,778 shares of the company’s stock valued at $2,485,000 after buying an additional 5,205 shares in the last quarter. BlackRock Inc. raised its position in shares of iRhythm Technologies by 0.4% in the 1st quarter. BlackRock Inc. now owns 2,093,147 shares of the company’s stock valued at $329,607,000 after buying an additional 8,440 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of iRhythm Technologies by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 68,492 shares of the company’s stock valued at $10,783,000 after buying an additional 2,603 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of iRhythm Technologies in the 1st quarter valued at approximately $248,000.

About iRhythm Technologies

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.