iRhythm Shares Rise 5% After Company Reports 1Q Results

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By Stephen Nakrosis

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Shares of iRhythm Technologies Inc. were higher on Nasdaq Friday, a day after the digital healthcare solutions company reported first-quarter financial results that showed revenue rising 24.3% year over year.

The company also said it was expecting 2022 revenue in a range from $410 million to $420 million, 27% to 30% higher than prior-year results.

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At 11:37 am ET, shares of iRhythm were trading 5.58% higher at $124.71 per share. Volume at the time topped 448,000 shares, above the stock’s 65-day average volume of 328,981 shares.

After the bell Thursday, iRhythm reported a first-quarter loss per share of $1.71 on revenue of $92.4 million. In the year-ago period, the company reported a loss per share of 95 cents on revenue of $74.3 million.

On Friday, Needham raised its price target on iRhythm’s stock to 9 per share from 5, Morgan Stanley raised its price target to 0 per share from 1, and Citigroup raised its price target to 0 per share from 5, as reported by Benzinga.
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Write to Stephen Nakrosis at [email protected]

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Credit: www.marketwatch.com /

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