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iRhythm Technologies Inc (NASDAQ:IRTC). stock reached a new 52-week high of 150.22 USD, marking a significant milestone for the $4.78 billion market cap company. With a robust gross profit margin of 69.39% and impressive revenue growth of 20.54%, the company demonstrates strong fundamental performance. This peak reflects a robust 46.64% increase in the stock’s value over the past year, highlighting investor confidence and strong market performance. The rise to this 52-week high underscores the company’s growth trajectory and its ability to capitalize on market opportunities. As iRhythm Technologies continues to innovate and expand its offerings, the stock’s upward momentum could attract further interest from investors looking for promising opportunities in the health technology sector. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with 10+ additional exclusive insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, iRhythm Technologies reported a 20.3% year-over-year increase in its first-quarter revenue, reaching $158.7 million, surpassing both Canaccord’s and the consensus estimates. The company also posted a narrower-than-expected adjusted net loss of $0.95 per share, slightly better than the forecasted loss of $0.96 per share. Following the revenue beat, iRhythm raised its full-year 2025 revenue guidance to between $690 million and $700 million. Analyst firms have responded to these developments with varied adjustments; Wells Fargo (NYSE:WFC) upgraded iRhythm’s stock rating from Equal Weight to Overweight with a new price target of $130, while Canaccord Genuity maintained a Buy rating but lowered its price target to $139. BTIG also raised its price target to $140, citing the company’s strong sales performance. The company’s Zio AT product has been a significant contributor to its recent success, with strong demand from primary care physicians and new account openings. Additionally, iRhythm is preparing for the launch of its new Zio MCT product and is addressing regulatory compliance issues with the FDA, aiming to complete remediation efforts by mid-2025.
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