In a report released today, David Saxon from Needham reiterated a Buy rating on Irhythm Technologies, with a price target of $244.00.
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David Saxon has given his Buy rating due to a combination of factors that highlight Irhythm Technologies’ strong performance and future potential. The company’s third-quarter revenue for 2025 surpassed expectations, prompting management to increase their revenue guidance for the year. This positive adjustment is largely driven by the success of their Zio Monitor and the expanding presence of Zio AT in the market, alongside gaining new accounts in the innovative channel.
Furthermore, management’s confidence in the 2026 revenue outlook, with potential growth from the innovative channel and Zio MCT, adds to the company’s promising trajectory. Irhythm Technologies also anticipates achieving free cash flow profitability by 2025, a year earlier than previously expected. These factors, combined with the company’s momentum and multiple avenues for growth, have led to an increased price target of $244, reinforcing the Buy rating.
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.