William Blair analyst Margaret Kaczor has maintained their bullish stance on IRTC stock, giving a Buy rating today.
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Margaret Kaczor has given her Buy rating due to a combination of factors. iRhythm Technologies reported impressive fourth-quarter sales of $164 million, marking a 24% increase year-over-year. This growth exceeded initial estimates by more than $7 million, driven by robust performance across its Zio monitor and Zio AT products. The company has gained competitive market share, especially in the MCT segment, and achieved record new account openings.
Moreover, iRhythm is expanding its reach into adjacent markets, with new partnerships targeting conditions such as COPD, diabetes, and kidney disease. This expansion is expected to enhance Zio’s diagnostic capabilities and streamline integration, potentially reducing clinical decision times significantly. Looking ahead to 2025, despite anticipated tariff impacts, the company’s operational efficiencies and automation strategies are expected to mitigate these challenges, supporting stable gross margins and reinforcing confidence in achieving long-term profitability targets.
Kaczor covers the Healthcare sector, focusing on stocks such as Staar Surgical, Inari Medical, and CVRx. According to TipRanks, Kaczor has an average return of 7.9% and a 50.00% success rate on recommended stocks.
In another report released today, Needham also reiterated a Buy rating on the stock with a $138.00 price target.