William Blair analyst Brandon Vazquez has reiterated their bullish stance on IRTC stock, giving a Buy rating on October 15.
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Brandon Vazquez has given his Buy rating due to a combination of factors that highlight iRhythm Technologies’ strong performance and future potential. The company has shown robust growth by surpassing sales and adjusted EBITDA expectations, prompting an increase in full-year revenue guidance. This growth is supported by the addition of innovative channel partners and successful EHR integration, which have led to increased utilization.
Furthermore, iRhythm’s core business is expanding through new account acquisitions and higher usage within existing accounts. The company’s strategic initiatives, including the integration of Epic Aura accounts and the forthcoming launch of the next-generation Zio MCT, are expected to drive further growth. These developments, coupled with a promising pipeline, suggest that iRhythm is well-positioned for continued success, justifying the Buy rating.
In another report released on October 15, Truist Financial also maintained a Buy rating on the stock with a $205.00 price target.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IRTC in relation to earlier this year.