iRhythm Technologies (NASDAQ:IRTC) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of iRhythm Technologies (NASDAQ:IRTC) from a hold rating to a buy rating in a report issued on Saturday.

Several other analysts have also recently issued reports on IRTC. Robert W. Baird cut their price objective on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of iRhythm Technologies in a research report on Thursday, January 22nd. BTIG Research raised their price objective on iRhythm Technologies from $195.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. The Goldman Sachs Group lifted their price objective on shares of iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Finally, Canaccord Genuity Group dropped their target price on shares of iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating on the stock in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.62.

iRhythm Technologies Price Performance

IRTC stock opened at $150.96 on Friday. The stock’s 50 day moving average is $164.65 and its two-hundred day moving average is $171.37. iRhythm Technologies has a 52-week low of $92.52 and a 52-week high of $212.00. The company has a market capitalization of $4.86 billion, a PE ratio of -107.83 and a beta of 1.06. The company has a quick ratio of 4.50, a current ratio of 4.63 and a debt-to-equity ratio of 5.32.

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, topping analysts’ consensus estimates of $0.02 by $0.27. The business had revenue of $208.89 million during the quarter, compared to the consensus estimate of $202.61 million. iRhythm Technologies had a negative net margin of 5.96% and a negative return on equity of 31.44%. The business’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) earnings per share. Analysts predict that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Insider Transactions at iRhythm Technologies

In other iRhythm Technologies news, insider Chad Patterson sold 280 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total value of $51,752.40. Following the completion of the transaction, the insider owned 43,387 shares in the company, valued at approximately $8,019,219.21. This represents a 0.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 of the company’s stock, valued at $9,847,927.23. This trade represents a 4.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Institutional Trading of iRhythm Technologies

A number of institutional investors have recently made changes to their positions in IRTC. Measured Wealth Private Client Group LLC acquired a new position in shares of iRhythm Technologies during the third quarter valued at approximately $30,000. Root Financial Partners LLC bought a new position in iRhythm Technologies during the 3rd quarter valued at $30,000. GAMMA Investing LLC increased its position in shares of iRhythm Technologies by 48.4% during the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after purchasing an additional 60 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of iRhythm Technologies by 100.0% in the 3rd 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 bought a new stake in shares of iRhythm Technologies in the 3rd quarter worth $34,000.

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.