Needham raises PT on iRhythm Technologies

iRhythm Holdings

14/01/2025 13:43

** Brokerage Needham raises PT on medical device maker iRhythm
Technologies'  IRTC.O  shares to $112 from $96; maintains "buy"
rating
    ** Raised PT represents 14.8% upside to stock's last close
    ** Brokerage forecasts Q4 revenue to be more than $160 mln
vs est $157.5 mln - LSEG
    ** IRTC's heart monitoring devices, Zio monitor and Zio AT,
drove company's strength in revenue forecast - brokerage
    ** Company forecast 2025 revenue between $675 mln and $685
mln, brokerage expects company will make "further progress on
ramping profitability"
    ** Company's shares fell ~11% in 2024

(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com))