In a report released today, Marie Thibault from BTIG downgraded Irhythm Technologies (IRTC – Research Report) to Hold. The company’s shares closed last Tuesday at $59.07, close to its 52-week low of $58.50.
According to TipRanks.com, Thibault is a top 100 analyst with an average return of 68.2% and a 64.2% success rate. Thibault covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings, Edwards Lifesciences, and Boston Scientific.
The word on The Street in general, suggests a Hold analyst consensus rating for Irhythm Technologies with a $81.00 average price target.
Based on Irhythm Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $74.31 million and GAAP net loss of $27.78 million. In comparison, last year the company earned revenue of $63.54 million and had a GAAP net loss of $9.07 million.
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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.