Positive Outlook for iRhythm Technologies Driven by Strategic Partnerships and Consistent Growth

William Blair analyst Margaret Kaczor has maintained their bullish stance on IRTC stock, giving a Buy rating on June 2.

Margaret Kaczor’s rating is based on several promising developments within iRhythm Technologies that suggest a positive outlook for the company’s future. The company has demonstrated consistent growth, exceeding 20% over consecutive quarters, and is expected to continue this trajectory as it expands its initiatives. Key areas of focus include the adoption of primary care, partnerships in value-based care, and integration with Epic Aura, all of which are expected to drive further growth.
Additionally, iRhythm’s value-based care partnerships, though not yet included in the company’s official guidance, show promising early results. The company has successfully engaged with several large national accounts, which are already contributing to growth, and is in discussions with many more potential partners. This strategic expansion, coupled with the company’s progress towards personalized and preventive care, particularly in cardiology, positions iRhythm well for future success, justifying the Buy rating.

In another report released on June 2, Wells Fargo also assigned a Buy rating to the stock with a $130.00 price target.

Based on the recent corporate insider activity of 45 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.