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IRTC

iRhythm

$84.16

1.02 (1.23%)

06:23
02/13/19
02/13
06:23
02/13/19
06:23

iRhythm price target raised to $110 from $100 at JPMorgan

JPMorgan analyst Robbie Marcus raised his price target for iRhythm to $110 saying the company posted an "impressive" close to the year with accelerating Q4 growth and better than expected 2019 guidance. The analyst reiterates iRhythm as his top SMID-cap pick.

IRTC iRhythm
$84.16

1.02 (1.23%)

01/11/19
ADAM
01/11/19
NO CHANGE
Target $90
ADAM
Buy
iRhythm price target raised to $90 from $84 at Canaccord
Canaccord analyst Jason Mills raised his price target on iRhythm to $90 from $84 and said it represents one of his top picks for 2019. The analyst believes the company will maintain strong growth and its large competitive moat. He expects improving gross margins, thinks the scaling of its U.S. salesforce should translate to revenue upside, and projects increased market share gains. Mills reiterated his Buy rating on iRhythm shares.
09/13/18
JPMS
09/13/18
NO CHANGE
JPMS
Overweight
iRhythm selloff on Apple Watch a buying opportunity, says JPMorgan
JPMorgan analyst Robbie Marcus recommends investors use yesterday's weakness in shares of iRhythm Technologies (IRTC) as a buying opportunity. The stock sold off sharply after Apple (AAPL) announced that its new Watch Series 4 had received FDA approval for a built-in electrocardiogram scanner, Marcus tells investors in a research note. While the headline looks like a "notable headwind" for iRhythm, a closer look at the new device shows that this new feature poses almost no competitive threat to the company's Zio XT or AT offerings, Marcus contends. He does not see Apple turning the Watch into a regulated medical device approved for clinical diagnosis. The Apple Watch is approved for over-the-counter use and is not a continuous monitor, the analyst points out. Marcus believes Apple attaining an approval with a similar label to iRhythm's Zio "would significantly slow the rate of innovation and put the consumer device at the whim of the FDA." Instead, he expects that greater consumer preliminary screening for heart arrhythmias will only expand the number of patients seeking medical diagnosis, which, he feels, would benefit iRhythm. The analyst keeps an Overweight rating on the shares.
09/13/18
ADAM
09/13/18
NO CHANGE
Target $100
ADAM
Buy
iRhythm weakness on Apple Watch an aggressive buying opportunity, says Canaccord
Canaccord analyst Jason Mills said he would be an aggressive buyer of iRhythm (IRTC) shares on weakness following the announcement of Apple's (AAPL)_next generation Watch Series 4. The analyst believes Apple's new watch will be a potential market expander of Zio, the iRhythm platform that is changing the paradigm in ambulatory ECG monitoring. He believes it could add another 3M tests to the TAM longer term. Mills reiterated his Buy rating and raised his price target to $100 from $93 on iRhythm shares.
09/06/18
09/06/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Rite Aid (RAD) reinstated with a Sell at Goldman Sachs. 2. Parker-Hannifin (PH) initiated with an Overweight at Barclays. 3. iRhythm (IRTC) initiated with a Buy at Chardan. 4. Sarepta (SRPT) initiated with an Outperform at Credit Suisse. 5. Xperi (XPER) initiated with a Buy at National Securities. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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