iRhythm Technologies (NASDAQ:IRTC) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of iRhythm Technologies (NASDAQ:IRTC) from a hold rating to a buy rating in a research note issued to investors on Sunday morning.

A number of other research analysts have also issued reports on IRTC. JPMorgan Chase & Co. dropped their target price on iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley reiterated an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. The Goldman Sachs Group lowered their price objective on shares of iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Canaccord Genuity Group lowered their price objective on shares of iRhythm Technologies from $198.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Robert W. Baird lowered their price objective on shares of iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $197.77.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC opened at $120.80 on Friday. The company has a 50-day simple moving average of $122.93 and a 200-day simple moving average of $154.28. iRhythm Technologies has a one year low of $112.31 and a one year high of $212.00. The company has a debt-to-equity ratio of 4.03, a quick ratio of 4.98 and a current ratio of 5.17. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -140.46 and a beta of 1.33.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.21. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The business had revenue of $199.39 million during the quarter, compared to analysts’ expectations of $194.11 million. During the same period in the prior year, the company earned ($0.97) earnings per share. The business’s revenue was up 25.6% compared to the same quarter last year. On average, analysts predict that iRhythm Technologies will post -0.16 EPS for the current year.

Insider Activity

In related news, EVP Sumi Shrishrimal sold 6,217 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $135.42, for a total transaction of $841,906.14. Following the completion of the transaction, the executive vice president directly owned 39,182 shares of the company’s stock, valued at $5,306,026.44. This represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Quentin S. Blackford sold 25,540 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total transaction of $3,458,626.80. Following the transaction, the chief executive officer directly owned 186,126 shares of the company’s stock, valued at $25,205,182.92. This represents a 12.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 94,509 shares of company stock valued at $12,734,195 over the last ninety days. 0.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IRTC. Royal Bank of Canada raised its holdings in iRhythm Technologies by 423.0% during the first quarter. Royal Bank of Canada now owns 7,573 shares of the company’s stock worth $793,000 after purchasing an additional 6,125 shares in the last quarter. Goldman Sachs Group Inc. grew its position in iRhythm Technologies by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 433,780 shares of the company’s stock worth $45,408,000 after buying an additional 108,941 shares during the period. Strs Ohio acquired a new position in iRhythm Technologies during the first quarter worth about $147,000. Arrowstreet Capital Limited Partnership acquired a new position in iRhythm Technologies during the second quarter worth about $1,278,000. Finally, First Trust Advisors LP grew its position in iRhythm Technologies by 66.0% during the second quarter. First Trust Advisors LP now owns 56,197 shares of the company’s stock worth $8,652,000 after buying an additional 22,337 shares during the period.

Key Headlines Impacting iRhythm Technologies

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.