iRhythm Technologies (NASDAQ:IRTC) Shares Cross Below Two Hundred Day Moving Average Following Analyst Downgrade

Shares of iRhythm Technologies (NASDAQ:IRTC) passed below its 200-day moving average during trading on Friday after Wells Fargo & Company lowered their price target on the stock from $150.00 to $135.00. The stock has a 200-day moving average of $121.69 and traded as low as $86.30. Wells Fargo & Company currently has an overweight rating on the stock. iRhythm Technologies shares last traded at $90.22, with a volume of 5,666,907 shares changing hands.

Several other equities analysts have also recently weighed in on the stock. Wall Street Zen cut shares of iRhythm Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Citigroup cut iRhythm Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $157.00 to $124.00 in a research note on Friday. Needham & Company LLC cut their price target on iRhythm Technologies from $194.00 to $165.00 and set a “buy” rating on the stock in a report on Friday. Weiss Ratings raised shares of iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 27th. Finally, Stephens initiated coverage on shares of iRhythm Technologies in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $160.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $171.07.

Key iRhythm Technologies News

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

Hedge Funds Weigh In On iRhythm Technologies

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

iRhythm Technologies Price Performance

The company has a market cap of $2.97 billion, a P/E ratio of -77.11 and a beta of 1.39. The company has a current ratio of 3.86, a quick ratio of 3.74 and a debt-to-equity ratio of 3.50. The firm has a 50 day moving average of $114.95 and a 200-day moving average of $121.69.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.02 by $0.80. iRhythm Technologies had a negative net margin of 1.69% and a positive return on equity of 10.11%. The business 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 firm earned ($0.06) EPS. The business’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts predict that iRhythm Technologies will post 0.54 EPS for the current year.

About iRhythm Technologies

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.