iRhythm price target raised to $215 from $195 at BTIG

BTIG raised the firm’s price target on iRhythm (IRTC) to $215 from $195 and keeps a Buy rating on the shares. The company reported another stellar quarter, with revenue accelerating to $192.9M, up 30.7% y/y, while the $8M beat to consensus was driven by a record quarter from both Zio Monitor and Zio AT as IRTC expanded in the PCP channel, increased proactive monitoring penetration at new innovative channel partners, and continued to integrate Zio into EHRs, the analyst tells investors in a research note.