iRhythm Technologies $IRTC Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its holdings in shares of iRhythm Technologies (NASDAQ:IRTC) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 139,059 shares of the company’s stock after selling 18,217 shares during the period. Jennison Associates LLC’s holdings in iRhythm Technologies were worth $24,675,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Tudor Investment Corp ET AL acquired a new position in shares of iRhythm Technologies during the third quarter valued at $3,439,800,000. Vanguard Group Inc. grew its holdings in iRhythm Technologies by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,310,519 shares of the company’s stock worth $587,418,000 after acquiring an additional 70,420 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in iRhythm Technologies by 6,415.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 541,039 shares of the company’s stock worth $93,053,000 after acquiring an additional 532,735 shares during the period. Holocene Advisors LP grew its holdings in iRhythm Technologies by 51.2% during the third quarter. Holocene Advisors LP now owns 473,280 shares of the company’s stock worth $81,399,000 after acquiring an additional 160,186 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in iRhythm Technologies by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 433,780 shares of the company’s stock worth $45,408,000 after acquiring an additional 108,941 shares during the period.

Insider Activity at iRhythm Technologies

In other news, insider Patrick Michael Murphy sold 4,357 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $128.44, for a total value of $559,613.08. Following the completion of the sale, the insider owned 63,203 shares in the company, valued at $8,117,793.32. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mervin Smith sold 1,352 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $128.44, for a total value of $173,650.88. Following the completion of the sale, the executive vice president directly owned 25,612 shares of the company’s stock, valued at approximately $3,289,605.28. This trade represents a 5.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 94,509 shares of company stock worth $12,734,195. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IRTC shares. JPMorgan Chase & Co. lowered their target price on iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday. Canaccord Genuity Group lowered their target price on iRhythm Technologies from $198.00 to $180.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley reaffirmed an “overweight” rating on shares of iRhythm Technologies in a report on Monday, January 12th. Truist Financial lowered their target price on iRhythm Technologies from $200.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, The Goldman Sachs Group lowered their target price on iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, iRhythm Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $197.77.

iRhythm Technologies Trading Down 6.5%

NASDAQ:IRTC opened at $120.80 on Friday. The company has a quick ratio of 4.48, a current ratio of 4.63 and a debt-to-equity ratio of 4.25. iRhythm Technologies has a 1-year low of $112.31 and a 1-year high of $212.00. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -86.29 and a beta of 1.18. The stock has a fifty day simple moving average of $122.93 and a 200 day simple moving average of $154.60.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.21. iRhythm Technologies had a negative net margin of 3.53% and a negative return on equity of 10.97%. The business had revenue of $199.39 million during the quarter, compared to the consensus estimate of $194.11 million. During the same quarter in the prior year, the firm earned ($0.97) EPS. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. Sell-side analysts forecast that iRhythm Technologies will post -0.16 earnings per share for the current year.

iRhythm Technologies News Summary

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

• Positive Sentiment: Q1 results beat on revenue and EPS trends: iRhythm reported $199.4M in revenue (up 25.6% YoY) and a loss per share that was smaller than expected, indicating improving unit economics and topline momentum. This supports longer‑term growth expectations. IRTC Q1 results and call (MarketBeat)
• Positive Sentiment: Needham raised its price target slightly to $255 and keeps a “buy” rating, signaling conviction from at least one growth‑oriented shop and providing a bullish anchor for longer‑term upside. Needham raises PT to $255 (Benzinga)
• Neutral Sentiment: Company guidance: iRhythm issued FY2026 revenue guidance (~$875–$885M) roughly in line with consensus, which is steady but not clearly bullish; EPS guidance was not meaningfully changed. Guidance that meets expectations can temper upside momentum. IRTC Q1 financial results press release (GlobeNewswire)
• Neutral Sentiment: Additional context available from the Q1 earnings call transcript and analyst previews/deep dives — useful for investors evaluating margin progression, reimbursement/regulatory updates and AI initiatives but not immediate price catalysts by themselves. Q1 earnings call transcript (Seeking Alpha)
• Negative Sentiment: Analyst price‑target cuts from JPMorgan (PT lowered to $175 from $215) and Wells Fargo (PT lowered to $180 from $200) are exerting immediate downward pressure by reducing visible upside and prompting some investors to trim positions. JPMorgan & Wells Fargo lower PTs (Benzinga)
• Negative Sentiment: Truist and other outlets flagged cuts to targets in their Q1 previews, adding to the sell‑side pushback; persistent negative margins and a negative return on equity keep valuation sensitive to near‑term profitability improvements. Truist cuts PT on IRTC (Yahoo Finance)

iRhythm Technologies Company Profile

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.