iRhythm Technologies (NASDAQ:IRTC) Price Target Lowered to $180.00 at Canaccord Genuity Group

iRhythm Technologies (NASDAQ:IRTC) had its target price cut by Canaccord Genuity Group from $198.00 to $180.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on IRTC. Citigroup lowered their price target on iRhythm Technologies from $242.00 to $214.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Tuesday, April 21st. JPMorgan Chase & Co. lowered their price target on iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley reaffirmed an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. Finally, Wells Fargo & Company cut their price target on iRhythm Technologies from $200.00 to $180.00 and set an “overweight” rating for the company in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $197.77.

iRhythm Technologies Trading Down 6.5%

NASDAQ IRTC traded down $8.36 on Friday, hitting $120.80. 1,336,081 shares of the company were exchanged, compared to its average volume of 389,157. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48. iRhythm Technologies has a twelve month low of $112.31 and a twelve month high of $212.00. The company’s 50 day moving average price is $122.93 and its 200-day moving average price is $154.60. The firm has a market capitalization of $3.97 billion, a P/E ratio of -86.29 and a beta of 1.18.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.21. iRhythm Technologies had a negative return on equity of 10.97% and a negative net margin of 3.53%.The company had revenue of $199.39 million for the quarter, compared to analysts’ expectations of $194.11 million. During the same quarter in the previous year, the business posted ($0.97) EPS. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. Analysts predict that iRhythm Technologies will post -0.16 earnings per share for the current fiscal year.

Insider Activity at iRhythm Technologies

In other news, insider Chad Patterson sold 4,444 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $128.44, for a total transaction of $570,787.36. Following the sale, the insider owned 58,164 shares in the company, valued at approximately $7,470,584.16. This represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick Michael Murphy sold 4,357 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $128.44, for a total value of $559,613.08. Following the sale, the insider owned 63,203 shares in the company, valued at $8,117,793.32. The trade was a 6.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 94,509 shares of company stock valued at $12,734,195. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of iRhythm Technologies

Several large investors have recently made changes to their positions in the business. Tudor Investment Corp ET AL bought a new stake in shares of iRhythm Technologies during the third quarter worth $3,439,800,000. Vanguard Group Inc. grew its holdings in shares of iRhythm Technologies by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,310,519 shares of the company’s stock worth $587,418,000 after purchasing an additional 70,420 shares during the last quarter. RTW Investments LP bought a new position in iRhythm Technologies in the fourth quarter valued at about $209,732,000. Geode Capital Management LLC boosted its holdings in iRhythm Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 858,405 shares of the company’s stock valued at $152,337,000 after acquiring an additional 68,301 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in iRhythm Technologies by 45.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 829,862 shares of the company’s stock valued at $147,251,000 after acquiring an additional 259,800 shares during the last quarter.

iRhythm Technologies News Summary

Here are the key news stories impacting iRhythm Technologies this week:

• Positive Sentiment: Q1 results beat on revenue and EPS trends: iRhythm reported $199.4M in revenue (up 25.6% YoY) and a loss per share that was smaller than expected, indicating improving unit economics and topline momentum. This supports longer?term growth expectations. IRTC Q1 results and call (MarketBeat)
• Positive Sentiment: Needham raised its price target slightly to $255 and keeps a “buy” rating, signaling conviction from at least one growth?oriented shop and providing a bullish anchor for longer?term upside. Needham raises PT to $255 (Benzinga)
• Neutral Sentiment: Company guidance: iRhythm issued FY2026 revenue guidance (~$875–$885M) roughly in line with consensus, which is steady but not clearly bullish; EPS guidance was not meaningfully changed. Guidance that meets expectations can temper upside momentum. IRTC Q1 financial results press release (GlobeNewswire)
• Neutral Sentiment: Additional context available from the Q1 earnings call transcript and analyst previews/deep dives — useful for investors evaluating margin progression, reimbursement/regulatory updates and AI initiatives but not immediate price catalysts by themselves. Q1 earnings call transcript (Seeking Alpha)
• Negative Sentiment: Analyst price?target cuts from JPMorgan (PT lowered to $175 from $215) and Wells Fargo (PT lowered to $180 from $200) are exerting immediate downward pressure by reducing visible upside and prompting some investors to trim positions. JPMorgan & Wells Fargo lower PTs (Benzinga)
• Negative Sentiment: Truist and other outlets flagged cuts to targets in their Q1 previews, adding to the sell?side pushback; persistent negative margins and a negative return on equity keep valuation sensitive to near?term profitability improvements. Truist cuts PT on IRTC (Yahoo Finance)

About iRhythm Technologies

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.