Analysts Set iRhythm Technologies, Inc. (NASDAQ:IRTC) PT at $108.45

iRhythm Technologies, Inc. (NASDAQ:IRTC) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $108.45.

A number of brokerages have weighed in on IRTC. Robert W. Baird dropped their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Oppenheimer increased their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Truist Financial increased their target price on shares of iRhythm Technologies from $85.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Needham & Company LLC increased their target price on shares of iRhythm Technologies from $96.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $86.00 price objective on shares of iRhythm Technologies in a report on Tuesday, December 3rd.

Insider Activity at iRhythm Technologies

In related news, insider Patrick Michael Murphy sold 2,492 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the transaction, the insider now owns 35,327 shares in the company, valued at $3,034,236.03. This represents a 6.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On iRhythm Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cinctive Capital Management LP bought a new position in iRhythm Technologies in the 4th quarter valued at about $734,000. Bryce Point Capital LLC bought a new position in shares of iRhythm Technologies during the 4th quarter valued at about $1,271,000. Wellington Management Group LLP boosted its position in shares of iRhythm Technologies by 9.3% during the 4th quarter. Wellington Management Group LLP now owns 233,840 shares of the company’s stock valued at $21,085,000 after purchasing an additional 19,891 shares in the last quarter. Homestead Advisers Corp boosted its position in shares of iRhythm Technologies by 31.9% during the 4th quarter. Homestead Advisers Corp now owns 28,100 shares of the company’s stock valued at $2,534,000 after purchasing an additional 6,800 shares in the last quarter. Finally, EFG Asset Management North America Corp. boosted its position in shares of iRhythm Technologies by 113.6% during the 4th quarter. EFG Asset Management North America Corp. now owns 28,430 shares of the company’s stock valued at $2,565,000 after purchasing an additional 15,118 shares in the last quarter.

iRhythm Technologies Stock Up 4.0 %

Shares of NASDAQ:IRTC opened at $111.17 on Friday. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -22.87 and a beta of 1.29. iRhythm Technologies has a 1-year low of $55.92 and a 1-year high of $124.11. The company’s fifty day moving average is $97.43 and its two-hundred day moving average is $81.88. The company has a debt-to-equity ratio of 9.00, a quick ratio of 6.12 and a current ratio of 6.27.

About iRhythm Technologies

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.