In a report released today, Eugene Mannheimer from Colliers Securities reiterated a Hold rating on Irhythm Technologies (IRTC – Research Report). The company’s shares closed last Wednesday at $84.25, close to its 52-week low of $77.43.
According to TipRanks.com, Mannheimer is a 4-star analyst with an average return of 14.9% and a 58.8% success rate. Mannheimer covers the Technology sector, focusing on stocks such as Computer Programs and Systems, NextGen Healthcare, and Castlight Health.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Irhythm Technologies with a $97.80 average price target, implying a 19.2% upside from current levels. In a report issued on April 12, J.P. Morgan also downgraded the stock to Hold with a $95.00 price target.
Based on Irhythm Technologies’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $78.81 million and GAAP net loss of $9.65 million. In comparison, last year the company earned revenue of $59.1 million and had a GAAP net loss of $17.3 million.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IRTC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
iRhythm Technologies, Inc. is a commercial-stage digital healthcare company, which engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It offers ZIO which diagnose many arrhythmias, avoiding multiple indeterminate tests, allowing for appropriate medical intervention, and prevents serious downstream medical events. The company was founded by Uday N. Kumar in September 2006 and is headquartered in San Francisco, CA.