iRhythm Technologies (NASDAQ:IRTC) Sees Strong Trading Volume After Analyst Upgrade

iRhythm Technologies (NASDAQ:IRTC) shares saw unusually-strong trading volume on Tuesday after Wells Fargo & Company raised their price target on the stock from $220.00 to $225.00. Wells Fargo & Company currently has an overweight rating on the stock. Approximately 1,423,872 shares changed hands during mid-day trading, an increase of 121% from the previous session’s volume of 645,064 shares.The stock last traded at $157.7950 and had previously closed at $168.99.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of iRhythm Technologies from $190.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Loop Capital set a $220.00 price objective on shares of iRhythm Technologies in a report on Friday, October 31st. Canaccord Genuity Group increased their target price on shares of iRhythm Technologies from $193.00 to $212.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Evercore ISI raised shares of iRhythm Technologies from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $194.00 to $210.00 in a research report on Monday, January 5th. Finally, BTIG Research upped their price objective on shares of iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $219.23.

Insiders Place Their Bets

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,478 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total value of $458,008.74. Following the transaction, the insider directly owned 53,281 shares in the company, valued at $9,847,927.23. The trade was a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Quentin S. Blackford sold 14,059 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $182.94, for a total transaction of $2,571,953.46. Following the sale, the chief executive officer owned 164,979 shares of the company’s stock, valued at approximately $30,181,258.26. This represents a 7.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,817 shares of company stock worth $4,741,235 in the last quarter. Insiders own 0.68% of the company’s stock.

Key iRhythm Technologies News

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

• Positive Sentiment: Company previewed strong Q4 and raised 2026 revenue guidance to $870M–$880M (17%–18% growth) and expects adjusted EBITDA margin ~11.5%–12.5%; management highlighted record unit volume and first-time free cash flow positivity. GlobeNewswire Release
• Positive Sentiment: Wells Fargo raised its price target to $225 and set an Overweight rating, signalling sizable analyst upside versus current levels. Benzinga
• Positive Sentiment: Needham reaffirmed its Buy rating and maintains a $244 target, adding to the supportive analyst sentiment/bull case. Benzinga
• Neutral Sentiment: Management presented at the J.P. Morgan Healthcare Conference; the transcript and materials provide color on strategy (primary care, AI, adjacencies) but no new, fully audited results. Seeking Alpha Transcript
• Neutral Sentiment: Short‑interest data in the feed shows zero reported short shares (likely a reporting anomaly) and a days‑to‑cover of 0.0; this item is not informative for current positioning. Quiver Quant
• Negative Sentiment: Large insider selling reported across multiple executives in the last six months — substantial proceeds that may concern some investors about near‑term conviction. Quiver Quant (insider trades)
• Negative Sentiment: Company did not reconcile its 2026 adjusted EBITDA and certain non‑GAAP estimates (stated in the press release), which can create investor uncertainty about the quality/visibility of profitability metrics. GlobeNewswire Release
• Negative Sentiment: Despite growth, the company historically reported losses and carries a high debt-to-equity ratio in public metrics, which may keep some investors cautious about valuation and leverage. Quiver Quant

Hedge Funds Weigh In On iRhythm Technologies

A number of hedge funds have recently bought and sold shares of IRTC. Root Financial Partners LLC acquired a new position in shares of iRhythm Technologies during the 3rd quarter worth approximately $30,000. Measured Wealth Private Client Group LLC acquired a new stake in iRhythm Technologies during the third quarter worth approximately $30,000. GAMMA Investing LLC increased its stake in iRhythm Technologies by 48.4% during the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after acquiring an additional 60 shares during the period. Smartleaf Asset Management LLC raised its holdings in iRhythm Technologies by 100.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after acquiring an additional 99 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of iRhythm Technologies during the 3rd quarter valued at $34,000.

iRhythm Technologies Trading Down 7.2%

The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.50 and a current ratio of 4.63. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of -97.63 and a beta of 1.12. The firm has a fifty day moving average price of $176.98 and a 200-day moving average price of $168.62.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.30. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 41.86%. The firm had revenue of $192.88 million for the quarter, compared to analyst estimates of $184.75 million. During the same period last year, the firm earned ($1.26) EPS. The business’s quarterly revenue was up 30.8% compared to the same quarter last year. As a group, equities analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current year.

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.