BTIG Starts iRhythm Technologies (IRTC) at Buy
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BTIG initiated coverage on iRhythm Technologies (NASDAQ: IRTC) with a Buy rating and a price target of $28.
Analyst Sean Lavin said, "Very simply, the combination of improved diagnostic yield, convenient wearable device profile, and “soups to nuts” offering to physicians and payors position the ZIO system well. The device should replace bulky, less reliable first-line diagnostics and may offer a better option vs. costly, longer-term alternatives in the cardiac monitoring market. Near-term, the salesforce ramp should buoy above-average revenue growth. Longer term drivers include product iterations, new indications, and OUS expansion."
Shares of iRhythm Technologies closed at $24.23 yesterday.
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