Wall Street Zen Upgrades iRhythm Technologies (NASDAQ:IRTC) to “Buy”

iRhythm Technologies (NASDAQ:IRTC) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Other equities analysts have also recently issued reports about the stock. Citigroup lifted their target price on shares of iRhythm Technologies from $205.00 to $242.00 and gave the company a “buy” rating in a report on Friday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $244.00 price objective on shares of iRhythm Technologies in a research note on Monday, January 12th. Evercore upgraded shares of iRhythm Technologies from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $194.00 to $210.00 in a research note on Monday, January 5th. BTIG Research raised their price target on iRhythm Technologies from $195.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Truist Financial set a $200.00 price objective on iRhythm Technologies in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.62.

iRhythm Technologies Stock Performance

NASDAQ IRTC opened at $150.96 on Friday. The company has a fifty day moving average of $164.65 and a two-hundred day moving average of $171.48. The company has a market capitalization of $4.88 billion, a PE ratio of -107.83 and a beta of 1.06. iRhythm Technologies has a 1 year low of $92.52 and a 1 year high of $212.00. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, February 19th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.27. The business had revenue of $208.89 million during the quarter, compared to the consensus estimate of $202.61 million. iRhythm Technologies had a negative return on equity of 28.15% and a negative net margin of 5.96%.The business’s quarterly revenue was up 27.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.04) EPS. As a group, analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current year.

Insider Activity at iRhythm Technologies

In related news, insider Chad Patterson sold 280 shares of the company’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 transaction, the insider owned 43,387 shares of the company’s stock, valued at $8,019,219.21. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Patrick Michael Murphy sold 2,478 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 $458,008.74. Following the sale, the insider owned 53,281 shares in the company, valued at $9,847,927.23. The trade was a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On iRhythm Technologies

A number of institutional investors and hedge funds have recently modified their holdings of IRTC. Quantbot Technologies LP acquired a new stake in shares of iRhythm Technologies during the 2nd quarter worth $3,578,000. Federated Hermes Inc. increased its stake in iRhythm Technologies by 45.4% during the third quarter. Federated Hermes Inc. now owns 70,401 shares of the company’s stock worth $12,108,000 after acquiring an additional 21,977 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of iRhythm Technologies by 507.3% in the 2nd quarter. Osaic Holdings Inc. now owns 9,292 shares of the company’s stock worth $1,431,000 after purchasing an additional 7,762 shares during the period. Jump Financial LLC acquired a new position in shares of iRhythm Technologies in the 2nd quarter valued at about $9,668,000. Finally, Walleye Capital LLC purchased a new stake in shares of iRhythm Technologies during the 2nd quarter worth about $11,366,000.

Trending Headlines about 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

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.