iRhythm Technologies (NASDAQ:IRTC) Given New $180.00 Price Target at Wells Fargo & Company

iRhythm Technologies (NASDAQ:IRTC) had its target price cut by Wells Fargo & Company from $200.00 to $180.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued research reports about the company. Morgan Stanley reissued an “overweight” rating on shares of iRhythm Technologies in a research note on Monday, January 12th. Robert W. Baird decreased their price target on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. JPMorgan Chase & Co. dropped their price objective on iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Evercore upgraded shares of iRhythm Technologies from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $194.00 to $210.00 in a report on Monday, January 5th. Finally, The Goldman Sachs Group decreased their target price on shares of iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to 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%

Shares of IRTC stock traded down $8.36 on Friday, hitting $120.80. 1,336,081 shares of the company’s stock traded hands, compared to its average volume of 389,157. The company has a debt-to-equity ratio of 4.25, a quick ratio of 4.48 and a current ratio of 4.63. iRhythm Technologies has a one year low of $112.31 and a one year high of $212.00. The company’s fifty day simple moving average is $122.93 and its 200 day simple moving average is $154.60. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -86.29 and a beta of 1.18.

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

Insider Activity at iRhythm Technologies

In other news, insider Chad Patterson sold 8,967 shares of iRhythm Technologies stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total value of $1,214,311.14. Following the sale, the insider directly owned 51,738 shares in the company, valued at approximately $7,006,359.96. This trade represents a 14.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Quentin S. Blackford sold 25,540 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $135.42, for a total value of $3,458,626.80. Following the transaction, the chief executive officer owned 186,126 shares of the company’s stock, valued at approximately $25,205,182.92. This represents a 12.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 94,509 shares of company stock worth $12,734,195 over the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IRTC. Root Financial Partners LLC purchased a new stake in shares of iRhythm Technologies in the 3rd quarter worth about $30,000. Measured Wealth Private Client Group LLC purchased a new position in shares of iRhythm Technologies during the third quarter valued at about $30,000. GAMMA Investing LLC raised its stake in iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after buying an additional 60 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in iRhythm Technologies by 100.0% in the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after buying an additional 99 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in iRhythm Technologies in the third quarter worth about $34,000.

More iRhythm Technologies News

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)

iRhythm Technologies Company Profile

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.