Irhythm Technologies Inc (IRTC) Stock Rating Lowered by Zacks Investment Research

Irhythm Technologies Inc (NASDAQ:IRTC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

According to Zacks, “iRhythm Technologies, Inc. is a digital healthcare company. It focuses on the provision of ambulatory electrocardiogram, monitoring for patients at risk for arrhythmias primarily in the United States. The company offers ZIO Service, a platform which provides wearable biosensor with cloud-based data analytics that distill data from heartbeats into clinically actionable information. iRhythm Technologies, Inc. is headquartered in San Francisco, California. “

Separately, BTIG Research downgraded Irhythm Technologies from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.25.

Irhythm Technologies (NASDAQ:IRTC) opened at 35.86 on Friday. The company’s market capitalization is $600.87 million. The firm’s 50 day moving average price is $35.96 and its 200-day moving average price is $30.60. Irhythm Technologies has a 12-month low of $22.16 and a 12-month high of $40.48.

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A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp bought a new position in shares of Irhythm Technologies during the fourth quarter worth approximately $1,916,000. Federated Investors Inc. PA bought a new position in shares of Irhythm Technologies during the fourth quarter worth approximately $3,000,000. Janus Capital Management LLC bought a new position in shares of Irhythm Technologies during the fourth quarter worth approximately $3,011,000. Foresite Capital Management III LLC bought a new position in shares of Irhythm Technologies during the fourth quarter worth approximately $4,986,000. Finally, Board of Trustees of The Leland Stanford Junior University bought a new position in shares of Irhythm Technologies during the fourth quarter worth approximately $7,599,000. Institutional investors own 3.65% of the company’s stock.

About Irhythm Technologies

iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.

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