Truist Securities has lowered its price target for iRhythm Technologies (NASDAQ:IRTC) to $200 from $215, while maintaining a Buy rating. This adjustment comes despite the company’s strong fourth-quarter revenue performance and positive GAAP net income, reflecting a valuation correction due to lower group multiples. iRhythm’s innovative products and strategic growth targets suggest continued market adoption, with its MCT product on track for 2027 and a projected $1 billion in revenue and 15% EBITDA margin by the same year.
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Truist cuts iRhythm Technologies stock price target on valuation
Truist Securities has lowered its price target for iRhythm Technologies (NASDAQ:IRTC) to $200 from $215, while maintaining a Buy rating. This adjustment comes despite the company’s strong fourth-quarter revenue performance and positive GAAP net income, reflecting a valuation correction due to lower group multiples. iRhythm’s innovative products and strategic growth targets suggest continued market adoption, with its MCT product on track for 2027 and a projected $1 billion in revenue and 15% EBITDA margin by the same year.