Wells Fargo analyst Nathan Treybeck said the firm is introducing its Apptopia iRhythm Tracker, which tracks key mobile app trends which it believes are highly correlated with iRhythm U.S. sales. The firm is using these trends as a directional guide, noting that Q4 app trends imply roughly 12% upside to consensus Q4 revenue forecasts, the analyst tells investors in a research note. The firm maintained an Overweight rating and $125 price target on iRhythm.
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