iRhythm Technologies (NASDAQ:IRTC) Sees Unusually-High Trading Volume Following Analyst Upgrade

iRhythm Technologies (NASDAQ:IRTC) saw unusually-high trading volume on Tuesday after Wells Fargo & Company raised their price target on the stock from $220.00 to $225.00. Wells Fargo & Company currently has an overweight rating on the stock. Approximately 1,423,872 shares traded hands during mid-day trading, an increase of 121% from the previous session’s volume of 645,064 shares.The stock last traded at $157.7950 and had previously closed at $168.99.

Several other equities analysts have also weighed in on the stock. Canaccord Genuity Group raised their price objective on shares of iRhythm Technologies from $193.00 to $212.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Morgan Stanley restated an “overweight” rating on shares of iRhythm Technologies in a report on Monday. Robert W. Baird upped their price objective on shares of iRhythm Technologies from $180.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. JPMorgan Chase & Co. raised their target price on iRhythm Technologies from $190.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Finally, Citigroup upped their price target on iRhythm Technologies from $205.00 to $242.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, iRhythm Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $219.23.

Insider Transactions at iRhythm Technologies

In related news, CFO Daniel G. Wilson sold 8,000 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $207.44, for a total value of $1,659,520.00. Following the completion of the transaction, the chief financial officer owned 26,470 shares of the company’s stock, valued at $5,490,936.80. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Patrick Michael Murphy sold 2,478 shares of the firm’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 $458,008.74. Following the transaction, the insider owned 53,281 shares of the company’s stock, valued at approximately $9,847,927.23. This represents a 4.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 24,817 shares of company stock valued at $4,741,235 in the last ninety days. 0.68% of the stock is owned by corporate insiders.

Key Stories Impacting iRhythm Technologies

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

• Positive Sentiment: Company previewed strong Q4 and raised 2026 revenue guidance to $870M–$880M (17%–18% growth) and expects adjusted EBITDA margin ~11.5%–12.5%; management highlighted record unit volume and first-time free cash flow positivity. GlobeNewswire Release
• Positive Sentiment: Wells Fargo raised its price target to $225 and set an Overweight rating, signalling sizable analyst upside versus current levels. Benzinga
• Positive Sentiment: Needham reaffirmed its Buy rating and maintains a $244 target, adding to the supportive analyst sentiment/bull case. Benzinga
• Neutral Sentiment: Management presented at the J.P. Morgan Healthcare Conference; the transcript and materials provide color on strategy (primary care, AI, adjacencies) but no new, fully audited results. Seeking Alpha Transcript
• Neutral Sentiment: Short‑interest data in the feed shows zero reported short shares (likely a reporting anomaly) and a days‑to‑cover of 0.0; this item is not informative for current positioning. Quiver Quant
• Negative Sentiment: Large insider selling reported across multiple executives in the last six months — substantial proceeds that may concern some investors about near‑term conviction. Quiver Quant (insider trades)
• Negative Sentiment: Company did not reconcile its 2026 adjusted EBITDA and certain non‑GAAP estimates (stated in the press release), which can create investor uncertainty about the quality/visibility of profitability metrics. GlobeNewswire Release
• Negative Sentiment: Despite growth, the company historically reported losses and carries a high debt-to-equity ratio in public metrics, which may keep some investors cautious about valuation and leverage. Quiver Quant

Institutional Trading of iRhythm Technologies

Large investors have recently made changes to their positions in the business. Tudor Investment Corp ET AL acquired a new position in iRhythm Technologies during the 3rd quarter worth about $3,439,800,000. Arrowstreet Capital Limited Partnership lifted its position in shares of iRhythm Technologies by 6,415.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 541,039 shares of the company’s stock worth $93,053,000 after purchasing an additional 532,735 shares in the last quarter. Polar Capital Holdings Plc increased its holdings in shares of iRhythm Technologies by 24,782.1% in the third quarter. Polar Capital Holdings Plc now owns 335,908 shares of the company’s stock valued at $57,773,000 after purchasing an additional 334,558 shares in the last quarter. Holocene Advisors LP raised its position in iRhythm Technologies by 2,023.1% in the 2nd quarter. Holocene Advisors LP now owns 313,094 shares of the company’s stock worth $48,204,000 after purchasing an additional 298,347 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in iRhythm Technologies during the 2nd quarter worth $39,339,000.

iRhythm Technologies Price Performance

The stock has a market capitalization of $5.05 billion, a P/E ratio of -97.63 and a beta of 1.12. 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 stock has a 50-day simple moving average of $176.98 and a 200 day simple moving average of $168.62.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.30. The firm had revenue of $192.88 million during the quarter, compared to analyst estimates of $184.75 million. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The company’s revenue was up 30.8% on a year-over-year basis. During the same period last year, the company earned ($1.26) earnings per share. On average, equities analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current fiscal 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.