UPDATE: Morgan Stanley Upgrades iRhythm Technologies (IRTC) to Overweight
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Morgan Stanley analyst Cecilia Furlong upgraded iRhythm Technologies (NASDAQ: IRTC) from Equalweight to Overweight with a price target of $167.00 (from $129.00).
The analyst comments "Novitas' improved rate coupled with constructive CMS national pricing outlook removes the primary stock overhang, setting the stage for a more favorable reimbursement landscape starting 2023. Zio XT is proven cost effective and we continue to believe the technology provides significant value to the healthcare system. Fundamentals and volume growth remain sound and 2022 is shaping up to be crowded year of catalysts."
Shares of iRhythm Technologies closed at $141.10 yesterday.
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