Northland Securities Initiates a Hold Rating on Irhythm Technologies

By Carrie Williams

Irhythm Technologies (NASDAQ: IRTC) received a Hold rating and a $60 price target from Northland Securities analyst Suraj Kalia on March 12. The company’s shares opened today at $64.68, close to its 52-week high of $68.07.

According to TipRanks.com, Kalia is a 4-star analyst with an average return of 7.3% and a 59.4% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, ReShape Lifesciences Inc, and Obalon Therapeutics Inc.

Irhythm Technologies has an analyst consensus of Strong Buy, with a price target consensus of $73.25.

Based on Irhythm Technologies’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $28.18 million and GAAP net loss of $11.15 million. In comparison, last year the company earned revenue of $18.7 million and had a GAAP net loss of $6.27 million.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock.

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iRhythm Technologies, Inc. is a commercial-stage digital healthcare company engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It provides ambulatory electrocardiogram, or ECG, monitoring for patients at risk for arrhythmias.