iRhythm Technologies (NASDAQ:IRTC) Stock Price Target Cut by Wells Fargo & Company

Posted by Brian Himes on Nov 6th, 2026

iRhythm Technologies (NASDAQ:IRTC – Get Free Report) had its price objective reduced by equities research analysts at Wells Fargo & Company from $150.00 to $135.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 47.08% from the company’s current price.

IRTC has been the subject of several other reports. Weiss Ratings upgraded iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 27th. BTIG Research decreased their price objective on shares of iRhythm Technologies from $185.00 to $170.00 and set a “buy” rating for the company in a report on Friday. Needham & Company LLC lowered their price objective on iRhythm Technologies from $194.00 to $165.00 and set a “buy” rating on the stock in a report on Friday. Piper Sandler lowered their price target on iRhythm Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Citigroup lowered shares of iRhythm Technologies from a “buy” rating to a “neutral” rating and set a $124.00 price target on the stock. in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.07.

Check Out Our Latest Stock Report on IRTC

iRhythm Technologies Stock Down 29.5%

NASDAQ:IRTC traded down $38.40 on Friday, hitting $91.79. 782,083 shares of the company’s stock traded hands, compared to its average volume of 593,289. The firm has a 50-day moving average price of $115.47 and a 200-day moving average price of $122.07. iRhythm Technologies has a 1 year low of $92.44 and a 1 year high of $192.47. The company has a market cap of $3.03 billion, a PE ratio of -212.03 and a beta of 1.39. The company has a current ratio of 3.86, a quick ratio of 3.74 and a debt-to-equity ratio of 3.50.

iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.80. iRhythm Technologies had a negative net margin of 1.69% and a positive return on equity of 10.11%. The company had revenue of $221.59 million during the quarter, compared to the consensus estimate of $222.23 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The company’s revenue was up 14.9% compared to the same quarter last year. Equities analysts anticipate that iRhythm Technologies will post 0.54 EPS for the current fiscal year.

Institutional Trading of iRhythm Technologies

Several hedge funds have recently added to or reduced their stakes in IRTC. The Manufacturers Life Insurance Company grew its holdings in iRhythm Technologies by 99.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 390,577 shares of the company’s stock valued at $46,096,000 after buying an additional 194,502 shares during the last quarter. M&G PLC acquired a new position in shares of iRhythm Technologies during the third quarter worth approximately $13,905,000. Granahan Investment Management LLC lifted its holdings in shares of iRhythm Technologies by 567.9% during the first quarter. Granahan Investment Management LLC now owns 96,022 shares of the company’s stock worth $11,333,000 after buying an additional 81,645 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of iRhythm Technologies by 1,065.8% during the second quarter. Squarepoint Ops LLC now owns 71,862 shares of the company’s stock worth $8,548,000 after buying an additional 65,698 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of iRhythm Technologies by 14.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 467,113 shares of the company’s stock valued at $55,222,000 after acquiring an additional 59,704 shares during the period.

iRhythm Technologies News Summary

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

Positive Sentiment: Adjusted Q3 EPS was $0.82, well above the $0.02 consensus and up from a year-earlier loss of $0.06. Revenue grew 14.9% year over year to $221.6 million. Read More.
Neutral Sentiment: iRhythm said it will participate in upcoming investor conferences, providing opportunities to discuss its business and outlook with investors. Read More.
Negative Sentiment: Revenue came in just below analyst expectations ($221.6 million versus $222.2 million), and coverage reported a post-earnings share-price decline. The narrow miss may have outweighed the EPS beat for investors. Read More.
Negative Sentiment: Citigroup cut its rating from Buy to Neutral and set a $124 target. Piper Sandler, Needham, and BTIG also reduced their targets, although they retained Overweight or Buy ratings. Target cuts signal more cautious expectations even where analysts still see potential upside. Read More. · Read More. · Read More.

iRhythm Technologies Company Profile

(Get Free Report)

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.