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

iRhythm Technologies (NASDAQ:IRTC) had its price objective cut by analysts at Canaccord Genuity Group from $212.00 to $198.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 31.16% from the stock’s previous close.

IRTC has been the topic of a number of other research reports. Evercore upgraded iRhythm Technologies from an “in-line” rating to an “outperform” rating and raised their price target for the company from $194.00 to $210.00 in a research report on Monday, January 5th. JPMorgan Chase & Co. reduced their price objective on iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating on the stock in a research report on Friday. Morgan Stanley restated an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. Truist Financial set a $200.00 price target on shares of iRhythm Technologies in a research report on Friday. Finally, Wells Fargo & Company lowered their price objective on shares of iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating for the company in a report on Friday. Two 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.62.

iRhythm Technologies Stock Down 5.0%

Shares of NASDAQ IRTC opened at $150.96 on Friday. The company has a current ratio of 4.63, a quick ratio of 4.50 and a debt-to-equity ratio of 5.32. The business has a 50-day moving average of $164.65 and a 200-day moving average of $171.37. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of -107.83 and a beta of 1.06. iRhythm Technologies has a 12 month low of $92.52 and a 12 month high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, February 19th. The company reported $0.29 earnings per share for the quarter, beating 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 the consensus estimate of $202.61 million. During the same period last year, the firm posted ($0.04) earnings per share. iRhythm Technologies’s quarterly revenue was up 27.1% on a year-over-year basis. Sell-side analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,478 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total value of $458,008.74. Following the transaction, the insider owned 53,281 shares in the company, valued at approximately $9,847,927.23. The trade was a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chad Patterson sold 280 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total transaction of $51,752.40. Following the transaction, the insider directly owned 43,387 shares of the company’s stock, valued at approximately $8,019,219.21. This trade represents a 0.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

Key Headlines 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

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.