BTIG raises PT for iRhythm on strong Q2 sales, upbeat 2022 forecast

iRhythm Holdings

05/08/2022 13:08

** BTIG raises PT for heart monitor maker iRhythm
Technologies  IRTC.O  to $178 from $155 following a 'solid beat
and raise' quarter
    ** Co reports Q2 sales above estimates, helped by demand for
its devices and higher reimbursement rates  urn:newsml:reuters.com:*:nGNX16rr6m
    ** Q2 sales up 25.6% to $102.1 mln, above estimates of
$100.4 mln
    ** IRTC also raised FY 2022 revenue guidance to the top half
of its prior range, now expecting $415 mln-$420 mln 
    ** With strong underlying unit volume growth and hopefully
more stability on reimbursement going forward, IRTC is poised
for repeated beats and raises - BTIG
    ** At least three other brokerages raise PT
    ** IRTC stock was up 30.36% YTD as of last close

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com;))