iRhythm Technologies (NASDAQ:IRTC) Stock Price Target Lowered at Piper Sandler

iRhythm Technologies (NASDAQ:IRTC) had its price target trimmed by Piper Sandler from $160.00 to $150.00 in a report issued on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on IRTC. Weiss Ratings upgraded iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 27th. Stephens started coverage on iRhythm Technologies in a research report on Thursday, July 23rd. They set an “overweight” rating and a $160.00 price target on the stock. Citigroup downgraded shares of iRhythm Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $157.00 to $124.00 in a report on Friday. Wells Fargo & Company reduced their price objective on shares of iRhythm Technologies from $168.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, October 6th. Finally, Canaccord Genuity Group increased their target price on shares of iRhythm Technologies from $196.00 to $206.00 and gave the stock a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $171.07.

iRhythm Technologies Stock Performance

IRTC traded down $39.97 on Friday, hitting $90.22. The company’s stock had a trading volume of 5,666,907 shares, compared to its average volume of 508,477. The company’s 50 day simple moving average is $114.95 and its 200-day simple moving average is $121.69. The firm has a market cap of $2.97 billion, a P/E ratio of -77.11 and a beta of 1.39. iRhythm Technologies has a 12 month low of $86.30 and a 12 month high of $192.47. The company has a quick ratio of 3.74, a current ratio of 3.86 and a debt-to-equity ratio of 3.50.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, November 5th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.80. The business had revenue of $221.59 million for the quarter, compared to analysts’ expectations of $222.23 million. iRhythm Technologies had a negative net margin of 1.69% and a positive return on equity of 10.11%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) EPS. Analysts forecast that iRhythm Technologies will post 0.54 EPS for the current year.

Hedge Funds Weigh In On iRhythm Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Braidwell LP raised its position in shares of iRhythm Technologies by 7.2% during the 2nd quarter. Braidwell LP now owns 654,262 shares of the company’s stock valued at $77,824,000 after buying an additional 44,070 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of iRhythm Technologies by 14.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 467,113 shares of the company’s stock worth $55,222,000 after acquiring an additional 59,704 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in iRhythm Technologies by 99.2% in the first quarter. The Manufacturers Life Insurance Company now owns 390,577 shares of the company’s stock worth $46,096,000 after acquiring an additional 194,502 shares in the last quarter. Rock Springs Capital Management LP grew its position in iRhythm Technologies by 11.4% in the first quarter. Rock Springs Capital Management LP now owns 261,750 shares of the company’s stock worth $30,892,000 after acquiring an additional 26,750 shares in the last quarter. Finally, First Light Asset Management LLC grew its position in iRhythm Technologies by 9.3% in the first quarter. First Light Asset Management LLC now owns 168,116 shares of the company’s stock worth $19,841,000 after acquiring an additional 14,245 shares in the last quarter.

Key iRhythm Technologies News

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

• Positive Sentiment: iRhythm reported third-quarter earnings of $0.82 per share, above the $0.02 consensus estimate, and revenue grew 14.9% year over year. Third-quarter 2026 financial results
• Positive Sentiment: Despite reducing targets, Needham and BTIG retained Buy ratings, while Wells Fargo and Piper Sandler maintained Overweight ratings—indicating continued optimism among those firms. Needham analyst ratings
• Neutral Sentiment: The company announced plans to participate in upcoming investor conferences; no new financial or operating outlook was included in the announcement. Investor conference announcement
• Negative Sentiment: Revenue of $221.6 million narrowly missed the $222.2 million estimate. The small shortfall may have weighed on sentiment despite the EPS beat. Quarterly revenue results
• Negative Sentiment: Analysts cut targets: Wells Fargo to $135 from $150, Piper Sandler to $150 from $160, Needham to $165 from $194, and BTIG to $170 from $185. Citigroup also downgraded IRTC from Buy to Neutral and lowered its target to $124 from $157. These revisions add to concerns about the outlook, even though most firms still see potential upside from the current share price. Citigroup analyst rating

About iRhythm Technologies

iRhythm Technologies, Inc is a digital health company focused on the diagnosis and management of cardiac arrhythmias. The company provides ambulatory cardiac monitoring services that enable physicians to evaluate patients for conditions such as atrial fibrillation and other irregular heart rhythms.

Its principal offering is the Zio platform, which combines wearable electrocardiogram (ECG) monitoring devices with cloud-based data analysis and physician reports. Products in the platform include the Zio XT, an extended-wear monitor, and the Zio AT, which provides near-real-time monitoring capabilities.