Goldman Sachs Starts iRhythm Technologies (IRTC) at Neutral

Goldman Sachs analyst David Roman initiates coverage on iRhythm Technologies (NASDAQ: IRTC) with a Neutral rating and a price target of $78.00.

The analyst comments: "We expect iRhythm to generate strong revenue growth and an improving profitability profile. While current valuation does not appear demanding (3.5x 2025 EV/sales vs. a comparable SMID cap MedTech basket at 3.6x), the potential for downside to consensus revenue estimates and long-term sales guidance along with regulatory uncertainty leads us to view the risk/reward as balanced. We also consider potential risk-adjusted return (defined as percentage upside/downside to our target price versus 12-month volatility -- the standard deviation of daily returns over a trailing 12-month period) and note that IRTC shares carry an 0.3 potential RAR versus the average of our Buy, Neutral and Sell rated stocks at 0.6, 0.1, and (0.5), respectively."

For an analyst ratings summary and ratings history on iRhythm Technologies click here. For more ratings news on iRhythm Technologies click here.

Shares of iRhythm Technologies closed at $66.28 yesterday.

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