iRhythm Technologies, Inc. (NASDAQ:IRTC) has received an average rating of “Hold” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $121.89.
IRTC has been the topic of several analyst reports. downgraded shares of iRhythm Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $78.00 in a research note on Wednesday, June 2nd. Morgan Stanley decreased their target price on shares of iRhythm Technologies from $94.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 3rd. Canaccord Genuity boosted their price objective on shares of iRhythm Technologies from $210.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, August 26th. Citigroup reduced their price objective on shares of iRhythm Technologies from $74.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 6th. Finally, Zacks Investment Research downgraded shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 4th.
Shares of IRTC traded down $3.64 during mid-day trading on Tuesday, reaching $61.32. The company’s stock had a trading volume of 1,198,549 shares, compared to its average volume of 628,519. The company has a current ratio of 4.60, a quick ratio of 4.47 and a debt-to-equity ratio of 0.05. iRhythm Technologies has a 52 week low of $41.66 and a 52 week high of $286.19. The company’s fifty day moving average price is $50.39 and its two-hundred day moving average price is $78.61. The stock has a market cap of $1.80 billion, a PE ratio of -30.06 and a beta of 1.43.
Hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp bought a new position in iRhythm Technologies in the 2nd quarter worth about $120,316,000. Credit Suisse AG boosted its stake in iRhythm Technologies by 62.0% in the 1st quarter. Credit Suisse AG now owns 952,958 shares of the company’s stock worth $132,327,000 after purchasing an additional 364,754 shares in the last quarter. Point72 Asset Management L.P. bought a new position in iRhythm Technologies in the 2nd quarter worth about $21,312,000. Blair William & Co. IL boosted its stake in iRhythm Technologies by 134.3% in the 1st quarter. Blair William & Co. IL now owns 498,163 shares of the company’s stock worth $69,175,000 after purchasing an additional 285,555 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in iRhythm Technologies by 23.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,409,277 shares of the company’s stock worth $93,505,000 after purchasing an additional 269,403 shares in the last quarter. Hedge funds and other institutional investors own 96.92% of the company’s stock.
iRhythm Technologies Company Profile
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, continuously records, and stores ECG data from every patient heartbeat for up to 14 consecutive days; and Zio AT, also provides ECG data but also provides physicians with actionable notifications during the wear period.
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