iRhythm Technologies (NASDAQ:IRTC) Price Target Lowered to $168.00 at Wells Fargo & Company

iRhythm Technologies (NASDAQ:IRTC) had its price objective reduced by Wells Fargo & Company from $180.00 to $168.00 in a research note published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Stephens started coverage on iRhythm Technologies in a report on Thursday, July 23rd. They issued an “overweight” rating and a $160.00 price target for the company. BTIG Research restated a “buy” rating and set a $185.00 price objective on shares of iRhythm Technologies in a research report on Monday, June 22nd. Truist Financial lowered their target price on shares of iRhythm Technologies from $174.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Canaccord Genuity Group dropped their target price on shares of iRhythm Technologies from $180.00 to $152.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Finally, Citigroup lifted their price target on shares of iRhythm Technologies from $155.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.36.

iRhythm Technologies Stock Down 0.2%

Shares of NASDAQ IRTC opened at $127.84 on Friday. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of -297.30 and a beta of 1.30. The company has a debt-to-equity ratio of 4.03, a current ratio of 5.17 and a quick ratio of 4.98. The business has a 50-day moving average of $115.03 and a two-hundred day moving average of $124.57. iRhythm Technologies has a 1 year low of $100.85 and a 1 year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.62. iRhythm Technologies had a positive return on equity of 10.81% and a negative net margin of 1.69%.The business had revenue of $224.17 million for the quarter, compared to the consensus estimate of $219.30 million. During the same quarter in the prior year, the business posted ($0.32) EPS. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, analysts forecast that iRhythm Technologies will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar acquired 5,312 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $10.71 per share, with a total value of $56,891.52. Following the completion of the acquisition, the director owned 25,611 shares of the company’s stock, valued at $274,293.81. The trade was a 26.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.98% of the company’s stock.

Institutional Trading of iRhythm Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. WoodTrust Financial Corp lifted its position in shares of iRhythm Technologies by 0.7% during the 4th quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock valued at $1,787,000 after acquiring an additional 70 shares during the period. US Bancorp DE grew its holdings in shares of iRhythm Technologies by 7.8% in the 3rd quarter. US Bancorp DE now owns 1,042 shares of the company’s stock worth $179,000 after acquiring an additional 75 shares during the period. State of Wyoming grew its holdings in shares of iRhythm Technologies by 16.0% in the 4th quarter. State of Wyoming now owns 616 shares of the company’s stock worth $109,000 after acquiring an additional 85 shares during the period. Alliancebernstein L.P. increased its stake in iRhythm Technologies by 0.3% in the 3rd quarter. Alliancebernstein L.P. now owns 37,489 shares of the company’s stock valued at $6,448,000 after purchasing an additional 95 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in iRhythm Technologies by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 28,917 shares of the company’s stock valued at $4,452,000 after purchasing an additional 99 shares in the last quarter.

Trending Headlines about iRhythm Technologies

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

• Positive Sentiment: Strong Q2 results: iRhythm reported adjusted earnings of $0.58 per share, versus the consensus estimate of a $0.04 loss, while revenue rose 20.1% year over year to $224.17 million, exceeding the $219.30 million estimate. iRhythm Holdings Tops Q2 Earnings and Revenue Estimates
• Positive Sentiment: VitalConnect acquisition expands addressable market: The company agreed to acquire privately held VitalConnect for $287.5 million. The deal would add wearable biosensors and broaden iRhythm’s cardiac-monitoring platform across ambulatory, inpatient and hospital-to-home settings, with closing expected by year-end. iRhythm to Buy VitalConnect for $287.5 Million
• Positive Sentiment: Raised financial ambitions: iRhythm projected 2026 revenue of $880 million to $890 million and is targeting a 13% to 14% adjusted EBITDA margin, signaling confidence in continued growth and operating leverage. iRhythm Outlines 2026 Revenue Outlook
• Neutral Sentiment: Legal overhang may be reduced: A federal court approved a proposed class-action settlement involving purchasers of iRhythm common stock. The settlement could reduce litigation uncertainty, although the articles do not specify its financial impact. Proposed iRhythm Class-Action Settlement
• Negative Sentiment: Lower valuation support from Wells Fargo: Wells Fargo reduced its price target from $180 to $168, though it maintained an “overweight” rating and still implied substantial upside. The cut may have contributed to near-term caution.

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.