Wells Fargo & Company Has Lowered Expectations for iRhythm Technologies (NASDAQ:IRTC) Stock Price

iRhythm Technologies (NASDAQ:IRTC) had its target price dropped by Wells Fargo & Company from $180.00 to $168.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 27.11% from the stock’s current price.

IRTC has been the subject of a number of other reports. Wall Street Zen upgraded iRhythm Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. HC Wainwright reaffirmed a “buy” rating on shares of iRhythm Technologies in a report on Monday, June 1st. Bank of America reduced their price target on iRhythm Technologies from $225.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Citigroup increased their price target on iRhythm Technologies from $155.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. cut their price objective on iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $179.36.

iRhythm Technologies Trading Up 3.2%

iRhythm Technologies stock traded up $4.05 during trading hours on Friday, hitting $132.17. The stock had a trading volume of 727,805 shares, compared to its average volume of 606,942. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of -154.63 and a beta of 1.30. The company has a quick ratio of 4.98, a current ratio of 5.17 and a debt-to-equity ratio of 4.03. The business’s 50 day simple moving average is $114.76 and its 200-day simple moving average is $124.55. iRhythm Technologies has a one year low of $100.85 and a one year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.62. The business had revenue of $224.17 million during the quarter, compared to analyst estimates of $219.30 million. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.26%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.32) EPS. On average, equities analysts predict that iRhythm Technologies will post 0.13 EPS for the current fiscal year.

Insider Activity

In other iRhythm Technologies news, Director Abhijit Y. Talwalkar bought 5,312 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $10.71 per share, for a total transaction of $56,891.52. Following the transaction, the director directly owned 25,611 shares in the company, valued at approximately $274,293.81. This trade represents a 26.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.98% of the stock is owned by corporate insiders.

Institutional Trading of iRhythm Technologies

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

iRhythm Technologies News Summary

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

• Positive Sentiment: Q2 results beat expectations: iRhythm reported 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 estimates of $219.30 million. The improvement compares with a $0.32-per-share loss in the prior-year quarter. iRhythm Tops Q2 Earnings and Revenue Estimates
• Positive Sentiment: VitalConnect acquisition expands the platform: iRhythm agreed to acquire VitalConnect for $287.5 million, adding monitoring capabilities across ambulatory, inpatient and hospital-to-home care. Management expects the transaction to close by year-end, potentially expanding its addressable market and product portfolio. iRhythm to Buy VitalConnect for $287.5M
• Positive Sentiment: Full-year outlook remains solid: iRhythm forecast 2026 revenue of $880 million to $890 million, broadly in line with the roughly $881.3 million analyst consensus, and targeted a 13% to 14% adjusted EBITDA margin. The guidance reinforces expectations for continued growth and improving operating leverage. iRhythm Outlines 2026 Revenue Outlook
• Neutral Sentiment: Legal overhang addressed: A proposed class-action settlement for purchasers of iRhythm common stock received court approval, potentially reducing litigation uncertainty, although the announcement did not specify the settlement’s financial impact. Proposed iRhythm Class Action Settlement
• Negative Sentiment: Profitability and execution remain concerns: Despite the quarterly EPS surprise, iRhythm still reported a negative net margin and negative return on equity. Investors will also monitor the cost, integration and execution risks associated with the VitalConnect transaction.

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.