Needham Releases a Hold Rating on 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 Friday at $132.76.

According to TipRanks.com, Saxon is a 4-star analyst with an average return of 40.0% and a 92.9% success rate. Saxon covers the Healthcare sector, focusing on stocks such as Globus Medical, NuVasive, and SI-Bone.

Irhythm Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $216.60.

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Irhythm Technologies’ market cap is currently $3.87B and has a P/E ratio of -84.50. The company has a Price to Book ratio of 11.50.

Based on the recent corporate insider activity of 59 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.