iRhythm Technologies (NASDAQ:IRTC – Free Report) had its price objective lowered by JPMorgan Chase & Co. from $215.00 to $175.00 in a research note published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.
Other equities analysts have also issued research reports about the company. Robert W. Baird dropped their target price on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. The Goldman Sachs Group dropped their target price on iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Citigroup dropped their target price on iRhythm Technologies from $242.00 to $214.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Canaccord Genuity Group dropped their target price on iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, Wells Fargo & Company dropped their target price on iRhythm Technologies from $200.00 to $180.00 and set an “overweight” 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $197.77.
Check Out Our Latest Stock Analysis on IRTC
iRhythm Technologies Stock Down 6.5%
iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.21. The business had revenue of $199.39 million for the quarter, compared to analysts’ expectations of $194.11 million. iRhythm Technologies had a negative return on equity of 10.97% and a negative net margin of 3.53%.The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.97) earnings per share. On average, analysts predict that iRhythm Technologies will post -0.16 earnings per share for the current year.
Insider Activity at iRhythm Technologies
In other iRhythm Technologies news, insider Patrick Michael Murphy sold 7,805 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total transaction of $1,056,953.10. Following the transaction, the insider owned 60,536 shares of the company’s stock, valued at approximately $8,197,785.12. This trade represents a 11.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Quentin S. Blackford sold 25,540 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total value of $3,458,626.80. Following the transaction, the chief executive officer directly owned 186,126 shares in the company, valued at approximately $25,205,182.92. The trade was a 12.07% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 94,509 shares of company stock valued at $12,734,195. Corporate insiders own 1.10% of the company’s stock.
Hedge Funds Weigh In On iRhythm Technologies
Several hedge funds have recently made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new position in shares of iRhythm Technologies during the third quarter worth about $3,439,800,000. RTW Investments LP purchased a new position in shares of iRhythm Technologies during the fourth quarter worth about $209,732,000. Millennium Management LLC grew its holdings in shares of iRhythm Technologies by 197.4% during the fourth quarter. Millennium Management LLC now owns 826,376 shares of the company’s stock worth $146,632,000 after buying an additional 548,519 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of iRhythm Technologies by 6,415.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 541,039 shares of the company’s stock worth $93,053,000 after buying an additional 532,735 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its holdings in shares of iRhythm Technologies by 24,782.1% during the third quarter. Polar Capital Holdings Plc now owns 335,908 shares of the company’s stock worth $57,773,000 after buying an additional 334,558 shares during the last quarter.
Key iRhythm Technologies News
Here are the key news stories impacting iRhythm Technologies this week:
- Positive Sentiment: Q1 results beat on revenue and EPS trends: iRhythm reported $199.4M in revenue (up 25.6% YoY) and a loss per share that was smaller than expected, indicating improving unit economics and topline momentum. This supports longer‑term growth expectations. IRTC Q1 results and call (MarketBeat)
- Positive Sentiment: Needham raised its price target slightly to $255 and keeps a “buy” rating, signaling conviction from at least one growth‑oriented shop and providing a bullish anchor for longer‑term upside. Needham raises PT to $255 (Benzinga)
- Neutral Sentiment: Company guidance: iRhythm issued FY2026 revenue guidance (~$875–$885M) roughly in line with consensus, which is steady but not clearly bullish; EPS guidance was not meaningfully changed. Guidance that meets expectations can temper upside momentum. IRTC Q1 financial results press release (GlobeNewswire)
- Neutral Sentiment: Additional context available from the Q1 earnings call transcript and analyst previews/deep dives — useful for investors evaluating margin progression, reimbursement/regulatory updates and AI initiatives but not immediate price catalysts by themselves. Q1 earnings call transcript (Seeking Alpha)
- Negative Sentiment: Analyst price‑target cuts from JPMorgan (PT lowered to $175 from $215) and Wells Fargo (PT lowered to $180 from $200) are exerting immediate downward pressure by reducing visible upside and prompting some investors to trim positions. JPMorgan & Wells Fargo lower PTs (Benzinga)
- Negative Sentiment: Truist and other outlets flagged cuts to targets in their Q1 previews, adding to the sell‑side pushback; persistent negative margins and a negative return on equity keep valuation sensitive to near‑term profitability improvements. Truist cuts PT on IRTC (Yahoo Finance)
About iRhythm Technologies
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.
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