Irhythm Technologies Inc (IRTC) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Irhythm Technologies Inc (NASDAQ:IRTC) from a hold rating to a sell rating in a research note published 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 shares of Irhythm Technologies from a buy rating to a neutral rating in a research report on Tuesday, December 6th. One 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 presently has an average rating of Hold and an average price target of $30.25.

Shares of Irhythm Technologies (NASDAQ:IRTC) traded up 3.221% on Friday, reaching $36.695. 399,444 shares of the company were exchanged. Irhythm Technologies has a 12-month low of $22.16 and a 12-month high of $40.48. The stock’s market capitalization is $614.86 million. The firm has a 50 day moving average price of $35.96 and a 200-day moving average price of $30.60.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRTC. Federated Investors Inc. PA bought a new position in Irhythm Technologies during the fourth quarter worth $3,000,000. Columbia Wanger Asset Management LLC bought a new position in Irhythm Technologies during the fourth quarter worth $16,615,000. Board of Trustees of The Leland Stanford Junior University bought a new position in Irhythm Technologies during the fourth quarter worth $7,599,000. Janus Capital Management LLC bought a new position in Irhythm Technologies during the fourth quarter worth $3,011,000. Finally, Perceptive Advisors LLC bought a new position in Irhythm Technologies during the fourth quarter worth $10,567,000. 3.65% of the stock is owned by hedge funds and other institutional investors.

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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