iRhythm price target lowered to $170 from $200 at Truist

Truist analyst Richard Newitter lowered the firm’s price target on iRhythm (IRTC) to $170 from $200 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results in MedTech. The firm expects Q1 performances to be in line or better than what feels like an anxious investor sentiment around Q1 volumes, the analyst tells investors in a research note. Truist adds that the stock should trade at least in line with, if not higher than, its peer group average, given the upward bias to consensus revenue growth forecasts into the out- years and the company’s re-accelerating revenue growth potential in 2027 that could materialize upon MCT – Mobile Cardiac Telemetry service – approval.