Canaccord Genuity Group Has Lowered Expectations for iRhythm Technologies (NASDAQ:IRTC) Stock Price

iRhythm Technologies (NASDAQ:IRTC) had its target price decreased by analysts at Canaccord Genuity Group from $212.00 to $198.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 31.32% from the company’s current price.

Several other research analysts have also recently issued reports on IRTC. The Goldman Sachs Group increased their price objective on shares of iRhythm Technologies from $180.00 to $202.00 and gave the company a “neutral” rating in a report on Friday, October 31st. JPMorgan Chase & Co. cut their target price on iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday. Evercore upgraded iRhythm Technologies from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $194.00 to $210.00 in a research report on Monday, January 5th. Freedom Capital raised iRhythm Technologies to a “strong-buy” rating in a research note on Thursday, January 15th. Finally, Citigroup lifted their target price on iRhythm Technologies from $205.00 to $242.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $211.62.

iRhythm Technologies Stock Performance

IRTC stock traded down $8.11 during trading on Friday, reaching $150.77. 1,658,826 shares of the company’s stock were exchanged, compared to its average volume of 726,642. iRhythm Technologies has a 1-year low of $92.52 and a 1-year high of $212.00. The firm has a market cap of $4.86 billion, a PE ratio of -93.65 and a beta of 1.06. The company’s fifty day moving average price is $165.01 and its 200-day moving average price is $171.39. The company has a quick ratio of 4.50, a current ratio of 4.63 and a debt-to-equity ratio of 5.32.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data 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. The business had revenue of $208.89 million for the quarter, compared to analysts’ expectations of $202.61 million. iRhythm Technologies had a negative net margin of 7.32% and a negative return on equity of 41.86%. The company’s revenue was up 27.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.04) earnings per share. On average, research analysts expect that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Chad Patterson sold 280 shares of iRhythm Technologies stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total value of $51,752.40. Following the transaction, the insider 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patrick Michael Murphy sold 2,478 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 $458,008.74. Following the sale, the insider directly owned 53,281 shares of the company’s stock, valued at $9,847,927.23. This represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On iRhythm Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRTC. Quantbot Technologies LP bought a new position in shares of iRhythm Technologies in the second quarter worth about $3,578,000. Federated Hermes Inc. increased its position in iRhythm Technologies by 45.4% in the 3rd quarter. Federated Hermes Inc. now owns 70,401 shares of the company’s stock worth $12,108,000 after buying an additional 21,977 shares during the period. Osaic Holdings Inc. increased its position in iRhythm Technologies by 507.3% in the 2nd quarter. Osaic Holdings Inc. now owns 9,292 shares of the company’s stock worth $1,431,000 after buying an additional 7,762 shares during the period. Jump Financial LLC acquired a new position in shares of iRhythm Technologies during the second quarter worth approximately $9,668,000. Finally, Walleye Capital LLC bought a new stake in shares of iRhythm Technologies in the second quarter valued at approximately $11,366,000.

iRhythm Technologies News Summary

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

• Positive Sentiment: Q4 results beat and operational progress: Revenue $208.9M (+27.1% YoY) and EPS $0.29 vs. consensus $0.02; gross margin ~70.9%; first quarter of positive GAAP net income and improved adjusted EBITDA. These metrics support the case for sustained growth and improving profitability. GlobeNewswire Q4 Release
• Positive Sentiment: Analyst/media coverage highlights the beat and upcoming growth drivers (ACC presentations, international expansion, innovative channels), which can support medium‑term sentiment. MassDevice Coverage
• Neutral Sentiment: Detailed disclosure available — investors can review the earnings call transcript and presentation to assess guidance, unit economics and channel performance. Earnings Call Transcript Slide Deck
• Negative Sentiment: Analyst price‑target trims: Wells Fargo cut its PT from $225 to $200 (keeps Overweight) and Robert W. Baird cut from $220 to $200 (keeps Outperform). Even though the $200 PT still implies meaningful upside, the cuts can trigger short‑term selling pressure. Benzinga note
• Negative Sentiment: Insider and institutional flows: recent filings summarized by QuiverQuant show multiple insider sales and sizable hedge‑fund rebalancing (some large trims), which can amplify downside if market participants view selling as a signal to take profits. QuiverQuant Summary
• Negative Sentiment: Technical/valuation headwinds: stock is trading below its 50‑ and 200‑day moving averages and carries a high debt/equity ratio (5.32) and a negative trailing P/E structure — factors that can accelerate short‑term selling and keep some investors cautious. MarketBeat Data

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.