Irhythm Technologies (IRTC) Receives a Hold from Oppenheimer

In a report released today, Suraj Kalia from Oppenheimer assigned a Hold rating to Irhythm Technologies (IRTCResearch Report). The company’s shares closed last Tuesday at $261.00, close to its 52-week high of $274.21.

According to TipRanks.com, Kalia is a 4-star analyst with an average return of 9.4% and a 58.2% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Inspire Medical Systems, and Cardiovascular Systems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Irhythm Technologies with a $232.83 average price target.

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Based on Irhythm Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $71.94 million and GAAP net loss of $4.68 million. In comparison, last year the company earned revenue of $54.67 million and had a GAAP net loss of $18.29 million.

Based on the recent corporate insider activity of 53 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.

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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.