iRhythm Technologies (NASDAQ:IRTC) Trading Down 6.2% Following Analyst Downgrade

iRhythm Technologies (NASDAQ:IRTC) traded down 6.2% during mid-day trading on Friday after Canaccord Genuity Group lowered their price target on the stock from $212.00 to $198.00. Canaccord Genuity Group currently has a buy rating on the stock. iRhythm Technologies traded as low as $142.99 and last traded at $149.0560. 691,411 shares were traded during mid-day trading, a decline of 0% from the average session volume of 693,071 shares. The stock had previously closed at $158.88.

Other research analysts have also recently issued reports about the stock. Evercore upgraded shares of iRhythm Technologies from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $194.00 to $210.00 in a report on Monday, January 5th. The Goldman Sachs Group boosted their target price on iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Wells Fargo & Company reduced their target price on iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Friday. Robert W. Baird dropped their price target on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Truist Financial set a $200.00 price objective on iRhythm Technologies in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.62.

Insider Transactions at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,478 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total transaction of $458,008.74. Following the completion of the transaction, the insider owned 53,281 shares in the company, valued at $9,847,927.23. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chad Patterson sold 280 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total transaction of $51,752.40. Following the sale, the insider owned 43,387 shares in the company, valued at $8,019,219.21. The trade was a 0.64% 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.

Key iRhythm Technologies News

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

Institutional Trading of iRhythm Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC purchased a new position in shares of iRhythm Technologies during the 3rd quarter valued at $30,000. Measured Wealth Private Client Group LLC bought a new stake in iRhythm Technologies during the third quarter valued at $30,000. GAMMA Investing LLC grew its position in iRhythm Technologies by 48.4% during the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after buying an additional 60 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in 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 acquiring an additional 99 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of iRhythm Technologies in the 3rd quarter valued at about $34,000.

iRhythm Technologies Trading Down 5.0%

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 market cap of $4.86 billion, a P/E ratio of -107.83 and a beta of 1.06. The stock has a 50-day moving average price of $164.65 and a 200-day moving average price of $171.37.

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

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.