Needham analyst David Saxon reiterated a Buy rating on Irhythm Technologies (IRTC – Research Report) today and set a price target of $151.00.
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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 first-quarter revenue for 2025 exceeded expectations, prompting management to increase their revenue guidance for the year. This positive adjustment was largely driven by the success of Zio AT, which significantly contributed to the quarter’s strong results.
Additionally, Irhythm Technologies is benefiting from its innovative channel partners, which are helping to boost the volumes of Zio XT. The company’s robust growth trajectory, coupled with improving profitability, reinforces the Buy rating. As a result, the price target has been raised to $151, reflecting confidence in the company’s continued success.
In another report released today, Wells Fargo also upgraded the stock to a Buy with a $130.00 price target.
Based on the recent corporate insider activity of 38 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.