Needham & Company LLC Issues Pessimistic Forecast for iRhythm Technologies (NASDAQ:IRTC) Stock Price

iRhythm Technologies (NASDAQ:IRTC) had its price objective decreased by investment analysts at Needham & Company LLC from $194.00 to $165.00 in a research note issued on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC‘s target price indicates a potential upside of 82.89% from the company’s previous close.

A number of other brokerages also recently issued reports on IRTC. Canaccord Genuity Group raised their price objective on iRhythm Technologies from $196.00 to $206.00 and gave the stock a “buy” rating in a research report on Friday. Truist Financial increased their target price on shares of iRhythm Technologies from $160.00 to $168.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Wells Fargo & Company dropped their price target on shares of iRhythm Technologies from $168.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Stephens started coverage on shares of iRhythm Technologies in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $160.00 price target on the stock. Finally, Wall Street Zen downgraded shares of iRhythm Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $171.07.

iRhythm Technologies Trading Down 30.7%

Shares of NASDAQ:IRTC opened at $90.22 on Friday. The business has a 50-day moving average price of $114.95 and a 200-day moving average price of $121.69. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -77.11 and a beta of 1.39. The company has a quick ratio of 3.74, a current ratio of 3.86 and a debt-to-equity ratio of 3.50. iRhythm Technologies has a 52-week low of $86.30 and a 52-week high of $192.47.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, November 5th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.80. iRhythm Technologies had a negative net margin of 4.52% and a positive return on equity of 27.30%. The business had revenue of $221.59 million during the quarter, compared to analysts’ expectations of $222.23 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Equities analysts predict that iRhythm Technologies will post 0.54 EPS for the current year.

Institutional Trading of iRhythm Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc grew its holdings in shares of iRhythm Technologies by 123.2% in the 3rd quarter. Versant Capital Management Inc now owns 221 shares of the company’s stock valued at $25,000 after buying an additional 122 shares during the period. Covestor Ltd increased its position in shares of iRhythm Technologies by 44.8% during the third quarter. Covestor Ltd now owns 417 shares of the company’s stock worth $47,000 after acquiring an additional 129 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of iRhythm Technologies during the second quarter worth $50,000. Assetmark Inc. raised its holdings in shares of iRhythm Technologies by 30.1% during the first quarter. Assetmark Inc. now owns 821 shares of the company’s stock worth $97,000 after acquiring an additional 190 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in shares of iRhythm Technologies by 842.2% during the third quarter. Sterling Capital Management LLC now owns 1,093 shares of the company’s stock worth $124,000 after acquiring an additional 977 shares during the period.

Key Stories 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.