iRhythm Technologies (NASDAQ:IRTC) Price Target Cut to $198.00 by Analysts at Canaccord Genuity Group

iRhythm Technologies (NASDAQ:IRTC) had its price objective trimmed by Canaccord Genuity Group from $212.00 to $198.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating for the company in a report on Friday. Robert W. Baird reduced 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. Evercore upgraded iRhythm Technologies from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $194.00 to $210.00 in a research report on Monday, January 5th. Loop Capital set a $220.00 target price on iRhythm Technologies in a research note on Friday, October 31st. Finally, Freedom Capital upgraded iRhythm Technologies to a “strong-buy” rating in a report on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, iRhythm Technologies has a consensus rating of “Moderate Buy” and an average price target of $211.62.

iRhythm Technologies Price Performance

Shares of iRhythm Technologies stock opened at $150.96 on Friday. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of -107.83 and a beta of 1.06. 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 stock has a 50 day moving average price of $164.65 and a 200-day moving average price of $171.29. iRhythm Technologies has a one year low of $92.52 and a one year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.27. The company had revenue of $208.89 million for the quarter, compared to analyst estimates of $202.61 million. iRhythm Technologies had a negative return on equity of 31.44% and a negative net margin of 5.96%.iRhythm Technologies’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. Equities analysts expect that iRhythm Technologies will post -1.98 EPS for the current year.

Insider Buying and Selling

In related news, insider Chad Patterson sold 280 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total value of $51,752.40. Following the completion of the sale, the insider owned 43,387 shares in the company, valued at approximately $8,019,219.21. The trade was a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick Michael Murphy sold 2,478 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total value of $458,008.74. Following the completion of the transaction, the insider directly owned 53,281 shares in the company, valued at approximately $9,847,927.23. This trade represents a 4.44% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On iRhythm Technologies

Several institutional investors have recently made changes to their positions in the company. Corient Private Wealth LLC lifted its stake in iRhythm Technologies by 12.1% in the fourth quarter. Corient Private Wealth LLC now owns 1,764 shares of the company’s stock worth $313,000 after acquiring an additional 191 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in iRhythm Technologies by 7.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 639,423 shares of the company’s stock valued at $113,459,000 after purchasing an additional 44,175 shares during the period. XTX Topco Ltd bought a new stake in shares of iRhythm Technologies in the 4th quarter valued at about $855,000. RTW Investments LP purchased a new stake in shares of iRhythm Technologies in the 4th quarter worth approximately $209,732,000. Finally, Occudo Quantitative Strategies LP lifted its position in shares of iRhythm Technologies by 103.8% in the 4th quarter. Occudo Quantitative Strategies LP now owns 16,484 shares of the company’s stock worth $2,925,000 after purchasing an additional 8,395 shares during the period.

iRhythm Technologies News Roundup

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

• Positive Sentiment: Q4 results beat estimates — Revenue $208.9M (+27.1% YoY) and EPS $0.29 topped consensus; management reported record quarterly revenue, improved gross margin and positive GAAP net income for the quarter. Globe Newswire: Q4 Results
• Positive Sentiment: Beating the street — Third‑party coverage highlights the earnings and revenue beat and improved profitability metrics (adjusted EBITDA, cash flow). These operational improvements support upside case over time. Zacks: Earnings Beat
• Neutral Sentiment: Company materials available — Earnings call transcript and slide deck published for investors to evaluate management commentary and forward drivers (AC C presentations and upcoming data cadence). Useful for confirming guidance/assumptions. Seeking Alpha: Call Transcript
• Neutral Sentiment: Market coverage noted positive market reaction after the print in some outlets — short-term sentiment can swing quickly as investors parse details. MassDevice: Market Reaction
• Negative Sentiment: Analysts trimmed price targets across several firms today (Canaccord, JPMorgan, Wells Fargo, Robert W. Baird) — ratings remain generally positive/overweight but lower targets reduce near‑term upside expectations and can pressure the stock. Benzinga: Analyst Target Changes
• Negative Sentiment: Insider selling and institutional rebalancing highlighted — multiple insider sales and large shifts in fund holdings raise concern about near-term selling pressure and supply overhang. Quiver: Insider & Institutional Activity

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.