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BUZZ-Needham raises PT on iRhythm Technologies

ReutersJan 14, 2025 1:43 PM

** 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))

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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