iRhythm Technologies (NASDAQ:IRTC) Stock Price Down 6.2% After Analyst Downgrade

iRhythm Technologies (NASDAQ:IRTC)’s share price traded down 6.2% during 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 changed hands during trading, a decline of 0% from the average session volume of 693,071 shares. The stock had previously closed at $158.88.

IRTC has been the subject of several other research reports. Morgan Stanley reiterated an “overweight” rating on shares of iRhythm Technologies in a research note on Monday, January 12th. Wells Fargo & Company decreased their price target on iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday. Freedom Capital raised iRhythm Technologies to a “strong-buy” rating in a research note on Thursday, January 15th. Citigroup increased their price objective on shares of iRhythm Technologies from $205.00 to $242.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Truist Financial set a $200.00 target price on shares of iRhythm Technologies in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.62.

Insider Buying and Selling

In related news, insider Chad Patterson sold 280 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total transaction of $51,752.40. Following the transaction, the insider owned 43,387 shares in the company, valued at $8,019,219.21. The trade was a 0.64% decrease in their position. The sale 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 iRhythm Technologies stock in a transaction on 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 sale, the insider owned 53,281 shares in the company, valued at approximately $9,847,927.23. This trade represents a 4.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Key Stories Impacting 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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IRTC. Royal Bank of Canada grew its stake in iRhythm Technologies by 423.0% in the first quarter. Royal Bank of Canada now owns 7,573 shares of the company’s stock worth $793,000 after purchasing an additional 6,125 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of iRhythm Technologies by 33.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 433,780 shares of the company’s stock valued at $45,408,000 after buying an additional 108,941 shares in the last quarter. Strs Ohio purchased a new stake in shares of iRhythm Technologies in the 1st quarter worth about $147,000. Vanguard Personalized Indexing Management LLC grew its position in shares of iRhythm Technologies by 13.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,410 shares of the company’s stock worth $371,000 after buying an additional 293 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in shares of iRhythm Technologies by 9.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 22,652 shares of the company’s stock worth $3,488,000 after acquiring an additional 1,925 shares in the last quarter.

iRhythm Technologies Stock Performance

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 business’s 50-day moving average is $164.65 and its 200-day moving average is $171.29. The company has a market capitalization of $4.86 billion, a PE ratio of -107.83 and a beta of 1.06.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data 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. iRhythm Technologies had a negative net margin of 5.96% and a negative return on equity of 31.44%. The business had revenue of $208.89 million for the quarter, compared to analysts’ expectations of $202.61 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The business’s revenue was up 27.1% compared to the same quarter last year. On average, research analysts anticipate that iRhythm Technologies will post -1.98 earnings per share 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.