Needham Gives a Hold Rating to Irhythm Technologies (IRTC)

In a report released today, David Saxon from Needham assigned a Hold rating to Irhythm Technologies (IRTCResearch Report). The company’s shares closed last Thursday at $74.92, close to its 52-week low of $70.35.

According to TipRanks.com, Saxon is a 4-star analyst with an average return of 32.1% and a 78.9% success rate. Saxon covers the Healthcare sector, focusing on stocks such as Globus Medical, NuVasive, and SI-Bone.

The word on The Street in general, suggests a Hold analyst consensus rating for Irhythm Technologies with a $97.80 average price target, implying a 31.8% upside from current levels. In a report issued on April 22, Oppenheimer also maintained a Hold rating on the stock.

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Irhythm Technologies’ market cap is currently $2.2B and has a P/E ratio of -47.10. The company has a Price to Book ratio of 6.43.

Based on the recent corporate insider activity of 58 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.