Wells Fargo & Company Has Lowered Expectations for iRhythm Technologies (NASDAQ:IRTC) Stock Price

iRhythm Technologies (NASDAQ:IRTC) had its price objective cut by research analysts at Wells Fargo & Company from $150.00 to $135.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 49.63% from the stock’s previous close.

A number of other research firms have also weighed in on IRTC. Piper Sandler reduced their target price on iRhythm Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Friday. Truist Financial increased their price target on shares of iRhythm Technologies from $160.00 to $168.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wall Street Zen lowered shares of iRhythm Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. BTIG Research cut their price objective on shares of iRhythm Technologies from $185.00 to $170.00 and set a “buy” rating for the company in a research report on Friday. Finally, Weiss Ratings raised shares of iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $171.07.

iRhythm Technologies Trading Down 30.7%

NASDAQ:IRTC opened at $90.22 on Friday. iRhythm Technologies has a 1 year low of $86.30 and a 1 year high of $192.47. The stock’s fifty day moving average price is $114.95 and its two-hundred day moving average price is $121.69. The company has a debt-to-equity ratio of 3.50, a current ratio of 3.86 and a quick ratio of 3.74. The company has a market cap of $2.97 billion, a P/E ratio of -77.11 and a beta of 1.39.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.80. iRhythm Technologies had a positive return on equity of 27.30% and a negative net margin of 4.52%. The company had revenue of $221.59 million during the quarter, compared to analysts’ expectations of $222.23 million. During the same period in the previous year, the business earned ($0.06) earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, analysts expect that iRhythm Technologies will post 0.54 EPS for the current year.

Institutional Investors Weigh In On iRhythm Technologies

Large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in iRhythm Technologies by 123.2% in the 3rd quarter. Versant Capital Management Inc now owns 221 shares of the company’s stock worth $25,000 after acquiring an additional 122 shares during the last quarter. Covestor Ltd boosted its position in shares of iRhythm Technologies by 44.8% during the 3rd quarter. Covestor Ltd now owns 417 shares of the company’s stock valued at $47,000 after acquiring an additional 129 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of iRhythm Technologies during the 2nd quarter valued at about $50,000. Assetmark Inc. boosted its position in shares of iRhythm Technologies by 30.1% during the 1st quarter. Assetmark Inc. now owns 821 shares of the company’s stock valued at $97,000 after acquiring an additional 190 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of iRhythm Technologies by 842.2% during the 3rd quarter. Sterling Capital Management LLC now owns 1,093 shares of the company’s stock valued at $124,000 after acquiring an additional 977 shares during the last quarter.

Trending Headlines about iRhythm Technologies

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.