iRhythm price target lowered to $108 from $140 at Needham

Needham lowered the firm’s price target on iRhythm to $108 from $140 and keeps a Buy rating on the shares. The company’s Q3 results saw record registration volumes all while transitioning Zio XT over to the new Zio Monitor, though the firm’s price target cut reflects “lower peer multiples”, the analyst tells investors in a research note.