Wells Fargo analyst Nathan Treybeck maintained a Buy rating on Irhythm Technologies (IRTC – Research Report) yesterday and set a price target of $130.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Nathan Treybeck has given his Buy rating due to a combination of factors that highlight Irhythm Technologies’ strong market position and growth potential. The company is positioned well in the US ACM market, which is expected to grow at a mid-single-digit rate, driven by an aging population and increased awareness of arrhythmias. This growth is further supported by the company’s strategic initiatives, such as the appointment of a new CTO to enhance engineering and R&D capabilities.
Additionally, Irhythm’s Zio monitor has shown significant success due to its superior diagnostic yield and improved wear time, which have contributed to its stickiness in the market. The integration of Epic Aura has also expanded access for physicians, facilitating easier onboarding and enabling direct prescriptions by primary care providers. These factors, combined with the company’s focus on early diagnosis and innovative care channels, underscore the positive outlook for Irhythm Technologies, justifying the Buy rating.
In another report released on May 23, Citi also maintained a Buy rating on the stock with a $167.00 price target.
IRTC’s price has also changed dramatically for the past six months – from $87.900 to $140.650, which is a 60.01% increase.
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue