Shares of iRhythm Technologies Inc. (NASDAQ: IRTC) are surging 16.03% in pre-market trading on Friday, following the release of impressive first-quarter 2025 financial results, raised full-year guidance, and positive analyst reactions.
The medical technology company, known for its wearable cardiac monitoring devices, reported Q1 revenue of $158.7 million, representing a 20.3% year-over-year growth and surpassing Wall Street estimates of $153.6 million. Despite reporting a quarterly adjusted loss of $0.95 per share, investors focused on the company's robust top-line growth and improved market penetration. iRhythm also raised its full-year 2025 revenue guidance to $695 million at the midpoint, up from the previous $680 million, exceeding analysts' estimates by 2%.
The strong results and optimistic outlook have prompted several analyst upgrades and price target increases. Wells Fargo upgraded iRhythm to Overweight with a price target of $130, while Needham raised its target price to $151 from $138. Baird maintained its Outperform rating on the stock. The company's progress in expanding into primary care channels, international markets, and ongoing innovation in its product lineup appear to have fueled investor optimism and contributed to the significant pre-market stock surge.
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