iRhythm Technologies (NASDAQ:IRTC) Stock Price Target Lowered at BTIG Research

iRhythm Technologies (NASDAQ:IRTC) had its price target decreased by BTIG Research from $185.00 to $170.00 in a research report released on Friday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

IRTC has been the subject of a number of other research reports. Truist Financial upped their price target on iRhythm Technologies from $160.00 to $168.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Needham & Company LLC dropped their price objective on shares of iRhythm Technologies from $194.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company reduced their target price on shares of iRhythm Technologies from $168.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 6th. Piper Sandler began coverage on shares of iRhythm Technologies in a research note on Friday, October 16th. They issued an “overweight” rating and a $160.00 target price for the company. Finally, Stephens initiated coverage on shares of iRhythm Technologies in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $160.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $171.07.

iRhythm Technologies Stock Down 30.7%

Shares of IRTC traded down $39.97 during midday trading on Friday, reaching $90.22. 5,666,907 shares of the company were exchanged, compared to its average volume of 508,477. The stock has a 50-day moving average price of $114.95 and a 200-day moving average price of $121.69. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -77.11 and a beta of 1.39. iRhythm Technologies has a 1-year low of $86.30 and a 1-year high of $192.47. The company has a current ratio of 3.86, a quick ratio of 3.74 and a debt-to-equity ratio of 3.50.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, November 5th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.80. iRhythm Technologies had a positive return on equity of 10.11% and a negative net margin of 1.69%. The company had revenue of $221.59 million during the quarter, compared to the consensus estimate of $222.23 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The company’s revenue was up 14.9% compared to the same quarter last year. Research analysts expect that iRhythm Technologies will post 0.54 earnings per share for the current year.

Institutional Trading of iRhythm Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Braidwell LP boosted its stake in iRhythm Technologies by 7.2% during the 2nd quarter. Braidwell LP now owns 654,262 shares of the company’s stock valued at $77,824,000 after acquiring an additional 44,070 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of iRhythm Technologies by 14.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 467,113 shares of the company’s stock worth $55,222,000 after purchasing an additional 59,704 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of iRhythm Technologies by 99.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 390,577 shares of the company’s stock worth $46,096,000 after purchasing an additional 194,502 shares during the last quarter. Rock Springs Capital Management LP raised its stake in shares of iRhythm Technologies by 11.4% in the 1st quarter. Rock Springs Capital Management LP now owns 261,750 shares of the company’s stock valued at $30,892,000 after purchasing an additional 26,750 shares in the last quarter. Finally, First Light Asset Management LLC raised its stake in shares of iRhythm Technologies by 9.3% in the 1st quarter. First Light Asset Management LLC now owns 168,116 shares of the company’s stock valued at $19,841,000 after purchasing an additional 14,245 shares in the last quarter.

Key Headlines Impacting iRhythm Technologies

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

• Positive Sentiment: iRhythm reported third-quarter earnings of $0.82 per share, above the $0.02 consensus estimate, and revenue grew 14.9% year over year. Third-quarter 2026 financial results
• Positive Sentiment: Despite reducing targets, Needham and BTIG retained Buy ratings, while Wells Fargo and Piper Sandler maintained Overweight ratings—indicating continued optimism among those firms. Needham analyst ratings
• Neutral Sentiment: The company announced plans to participate in upcoming investor conferences; no new financial or operating outlook was included in the announcement. Investor conference announcement
• Negative Sentiment: Revenue of $221.6 million narrowly missed the $222.2 million estimate. The small shortfall may have weighed on sentiment despite the EPS beat. Quarterly revenue results
• Negative Sentiment: Analysts cut targets: Wells Fargo to $135 from $150, Piper Sandler to $150 from $160, Needham to $165 from $194, and BTIG to $170 from $185. Citigroup also downgraded IRTC from Buy to Neutral and lowered its target to $124 from $157. These revisions add to concerns about the outlook, even though most firms still see potential upside from the current share price. Citigroup analyst rating

iRhythm Technologies Company Profile

iRhythm Technologies, Inc is a digital health company focused on the diagnosis and management of cardiac arrhythmias. The company provides ambulatory cardiac monitoring services that enable physicians to evaluate patients for conditions such as atrial fibrillation and other irregular heart rhythms.

Its principal offering is the Zio platform, which combines wearable electrocardiogram (ECG) monitoring devices with cloud-based data analysis and physician reports. Products in the platform include the Zio XT, an extended-wear monitor, and the Zio AT, which provides near-real-time monitoring capabilities.