iRhythm Technologies (NASDAQ:IRTC – Get Rating) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.
IRTC has been the topic of a number of other reports. Needham & Company LLC dropped their target price on shares of iRhythm Technologies from $140.00 to $133.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company started coverage on shares of iRhythm Technologies in a report on Tuesday, February 7th. They set an “overweight” rating and a $150.00 price target on the stock. Truist Financial cut their price target on shares of iRhythm Technologies from $167.00 to $153.00 and set a “buy” rating on the stock in a report on Tuesday, December 20th. Canaccord Genuity Group boosted their price target on shares of iRhythm Technologies from $135.00 to $143.00 and gave the company a “buy” rating in a report on Friday. Finally, Wolfe Research upgraded shares of iRhythm Technologies from an “underperform” rating to a “peer perform” rating in a report on Monday, November 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, iRhythm Technologies currently has an average rating of “Moderate Buy” and an average target price of $146.36.
iRhythm Technologies Stock Up 8.3 %
NASDAQ IRTC opened at $116.66 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.42 and a quick ratio of 3.25. The company’s 50 day simple moving average is $100.78 and its 200 day simple moving average is $116.92. iRhythm Technologies has a 12 month low of $85.74 and a 12 month high of $169.54. The company has a market capitalization of $3.51 billion, a P/E ratio of -29.99 and a beta of 1.43.
Institutional Trading of iRhythm Technologies
Institutional investors have recently bought and sold shares of the company. Level Four Advisory Services LLC boosted its position in iRhythm Technologies by 14.1% during the third quarter. Level Four Advisory Services LLC now owns 3,556 shares of the company’s stock valued at $445,000 after purchasing an additional 439 shares during the last quarter. First Republic Investment Management Inc. acquired a new stake in shares of iRhythm Technologies in the third quarter worth about $212,000. WoodTrust Financial Corp lifted its position in shares of iRhythm Technologies by 6.6% in the third quarter. WoodTrust Financial Corp now owns 9,632 shares of the company’s stock worth $1,206,000 after buying an additional 600 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of iRhythm Technologies by 3.0% in the third quarter. Bessemer Group Inc. now owns 377,887 shares of the company’s stock worth $47,343,000 after buying an additional 11,171 shares during the last quarter. Finally, Banque Pictet & Cie SA acquired a new stake in shares of iRhythm Technologies in the second quarter worth about $3,423,000. Institutional investors and hedge funds own 98.96% of the company’s stock.
About iRhythm Technologies
iRhythm Technologies, Inc engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It offers Zio XT, is a wearable patch-based biosensor, which continuously records and stores ECG data from every patient heartbeat for up to 14 consecutive days, and Zio AT, which provides ECG data but also provides physicians with actionable notifications during the wear period .
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