iRhythm Technologies (NASDAQ:IRTC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of iRhythm Technologies (NASDAQ:IRTC) have earned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $219.2308.

IRTC has been the subject of several analyst reports. Wells Fargo & Company raised their target price on iRhythm Technologies from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. The Goldman Sachs Group increased their price objective on iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Citigroup boosted their target price on shares of iRhythm Technologies from $205.00 to $242.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Loop Capital set a $220.00 target price on shares of iRhythm Technologies in a research report on Friday, October 31st. Finally, Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $193.00 to $212.00 and gave the company a “buy” rating in a report on Friday, October 31st.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Freestone Grove Partners LP bought a new stake in iRhythm Technologies during the 4th quarter worth about $11,204,000. KCM Capital Inc acquired a new position in shares of iRhythm Technologies during the fourth quarter worth approximately $6,565,000. Schonfeld Strategic Advisors LLC lifted its position in shares of iRhythm Technologies by 4.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 11,258 shares of the company’s stock worth $1,998,000 after purchasing an additional 471 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of iRhythm Technologies by 27.8% during the fourth quarter. AQR Capital Management LLC now owns 40,165 shares of the company’s stock valued at $7,127,000 after purchasing an additional 8,744 shares during the last quarter. Finally, EFG International AG acquired a new stake in shares of iRhythm Technologies in the fourth quarter valued at approximately $4,727,000.

iRhythm Technologies Price Performance

Shares of iRhythm Technologies stock opened at $148.32 on Wednesday. The firm has a market cap of $4.78 billion, a P/E ratio of -92.12 and a beta of 1.06. The firm’s 50-day simple moving average is $165.58 and its 200-day simple moving average is $171.60. iRhythm Technologies has a twelve month low of $92.52 and a twelve month 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.

About iRhythm Technologies

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.