Canaccord Genuity Group Lowers iRhythm Technologies (NASDAQ:IRTC) Price Target to $198.00

Canaccord Genuity Group has lowered its price target for iRhythm Technologies (NASDAQ:IRTC) to $198.00 from $212.00, while maintaining a “buy” rating. This adjustment comes despite iRhythm Technologies beating Q4 earnings expectations with revenues of $208.9 million and EPS of $0.29, attributing growth to improved adjusted EBITDA and its first quarter of positive GAAP net income. However, the stock saw a 5.1% decline, trading below its 50- and 200-day averages, alongside a high debt-to-equity ratio and recent insider sales, contributing to near-term valuation and sentiment challenges.

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