iRhythm price target lowered to $79 from $100 at Baird

Baird lowered the firm’s price target on iRhythm (IRTC) to $79 from $100 and keeps an Outperform rating on the shares. The firm said its tough to again stick their neck out for a name that has had several product timeline delays and they are cautiously optimistic that the voluntary-delay now accounts for prior “unknowns” associated with the ongoing Warning Letter/483-observation remediation process.