Northland Securities Maintains a Hold Rating on Irhythm Technologies

By Austin Angelo

In a report released today, Suraj Kalia from Northland Securities maintained a Hold rating on Irhythm Technologies (NASDAQ: IRTC), with a price target of $60. The company’s shares opened today at $63.08, close to its 52-week high of $68.07.

Kalia wrote:

“We note that this was a physician-initiated study and funded by Bardy. Also, it is important to take this study within the context of an initial study which could provide clues for a larger head-head study, providing important clues for the sensitivity & specificity of R-R wave vs. P-wave analysis in ambulatory ECG monitoring.”

According to TipRanks.com, Kalia is a 4-star analyst with an average return of 7.0% and a 61.0% success rate. Kalia covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals Inc, Tactile Systems Technology, 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 $21.44 million and had a GAAP net loss of $5.3 million.

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

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.