iRhythm Technologies (NASDAQ:IRTC) Trading Down 6.2% Following Analyst Downgrade

iRhythm Technologies (NASDAQ:IRTC) dropped 6.2% 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. Approximately 691,411 shares were traded during trading, a decline of 0% from the average daily volume of 693,071 shares. The stock had previously closed at $158.88.

A number of other analysts also recently commented on IRTC. BTIG Research boosted their price target on shares of iRhythm Technologies from $195.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. The Goldman Sachs Group boosted their target price on iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Citigroup increased their price target on iRhythm Technologies from $205.00 to $242.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Loop Capital set a $220.00 price target on iRhythm Technologies in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Thursday, January 22nd. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.62.

Insiders Place Their Bets

In other news, insider Chad Patterson sold 280 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $184.83, for a total transaction of $51,752.40. Following the sale, the insider directly owned 43,387 shares of the company’s stock, valued at $8,019,219.21. The trade was a 0.64% decrease in their ownership of the stock. 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 the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $184.83, for a total value of $458,008.74. Following the sale, the insider directly owned 53,281 shares of the company’s stock, valued at approximately $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. 1.10% of the stock is currently owned by corporate insiders.

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

Institutional Investors Weigh In On iRhythm Technologies

A number of large investors have recently made changes to their positions in IRTC. Root Financial Partners LLC acquired a new stake in iRhythm Technologies during the 3rd quarter valued at $30,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of iRhythm Technologies in the third quarter worth $30,000. GAMMA Investing LLC grew its holdings in shares of iRhythm Technologies by 48.4% during the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after buying an additional 60 shares in the last quarter. Smartleaf Asset Management LLC raised its position in iRhythm Technologies by 100.0% during the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after buying an additional 99 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in iRhythm Technologies in the 3rd quarter worth about $34,000.

iRhythm Technologies Stock Performance

The stock has a market capitalization of $4.86 billion, a PE ratio of -93.76 and a beta of 1.06. 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 firm has a 50 day moving average of $165.01 and a 200-day moving average of $171.39.

iRhythm Technologies (NASDAQ:IRTC) last issued 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. The company had revenue of $208.89 million for the quarter, compared to the consensus estimate of $202.61 million. iRhythm Technologies had a negative return on equity of 41.86% and a negative net margin of 7.32%.The firm’s quarterly revenue was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. Research analysts forecast 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.