Canaccord Genuity Group Cuts iRhythm Technologies (NASDAQ:IRTC) Price Target to $198.00

iRhythm Technologies (NASDAQ:IRTC) had its price objective reduced by Canaccord Genuity Group from $212.00 to $198.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the company. The Goldman Sachs Group boosted their price target on iRhythm Technologies from $180.00 to $202.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. reduced their target price on shares of iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company lowered their price target on shares of iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday. Evercore raised shares of iRhythm Technologies from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $194.00 to $210.00 in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iRhythm Technologies in a report on Thursday, January 22nd. Two 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.62.

iRhythm Technologies Stock Down 5.0%

iRhythm Technologies stock opened at $150.96 on Friday. The company’s 50-day moving average price is $164.65 and its two-hundred day moving average price is $171.48. The company has a quick ratio of 4.48, a current ratio of 4.63 and a debt-to-equity ratio of 4.25. The stock has a market cap of $4.88 billion, a P/E ratio of -107.83 and a beta of 1.06. iRhythm Technologies has a twelve month low of $92.52 and a twelve month high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.27. iRhythm Technologies had a negative return on equity of 28.15% and a negative net margin of 5.96%.The company had revenue of $208.89 million during the quarter, compared to analysts’ expectations of $202.61 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The business’s revenue was up 27.1% on a year-over-year basis. As a group, analysts expect that iRhythm Technologies will post -1.98 EPS for the current year.

Insider Activity at iRhythm Technologies

In other news, 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 completion of the sale, the insider owned 43,387 shares of the company’s stock, valued at approximately $8,019,219.21. This represents a 0.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $458,008.74. Following the sale, the insider owned 53,281 shares in the company, valued at $9,847,927.23. This represents a 4.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On iRhythm Technologies

Several hedge funds and other institutional investors have recently modified their holdings of IRTC. Root Financial Partners LLC bought a new stake in shares of iRhythm Technologies during the 3rd quarter worth $30,000. Measured Wealth Private Client Group LLC acquired a new position in iRhythm Technologies during the third quarter worth about $30,000. GAMMA Investing LLC raised its stake 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 acquiring an additional 60 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of iRhythm Technologies by 100.0% in the third 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 acquired a new stake in shares of iRhythm Technologies in the 3rd quarter valued at approximately $34,000.

Trending Headlines about iRhythm Technologies

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.