iRhythm Technologies (NASDAQ:IRTC) Given New $168.00 Price Target at Wells Fargo & Company

iRhythm Technologies (NASDAQ:IRTC) had its price target decreased by investment analysts at 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 price objective would suggest a potential upside of 27.11% from the stock’s previous close.

A number of other research firms also recently weighed in on IRTC. The Goldman Sachs Group lowered their price target on iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Bank of America reduced their price objective 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 raised their price objective on iRhythm Technologies from $155.00 to $157.00 and gave the company a “buy” rating in a report on Monday, May 4th. Truist Financial cut their target price on iRhythm Technologies from $174.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. reduced their price target on shares of iRhythm Technologies from $215.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $179.36.

iRhythm Technologies Price Performance

iRhythm Technologies stock traded up $4.05 during midday trading on Friday, hitting $132.17. 727,805 shares of the company’s stock were exchanged, compared to its average volume of 606,942. The company has a market cap of $4.34 billion, a P/E ratio of -154.63 and a beta of 1.30. The company has a debt-to-equity ratio of 4.03, a quick ratio of 4.98 and a current ratio of 5.17. The stock has a 50-day moving average price of $114.76 and a two-hundred day moving average price of $124.55. iRhythm Technologies has a 52-week low of $100.85 and a 52-week high of $212.00.

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

Insider Buying and Selling at iRhythm Technologies

In other news, Director Abhijit Y. Talwalkar bought 5,312 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $10.71 per share, for a total transaction of $56,891.52. Following the completion of the acquisition, the director owned 25,611 shares of the company’s stock, valued at approximately $274,293.81. This trade represents a 26.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On iRhythm Technologies

A number of large investors have recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. purchased a new stake in iRhythm Technologies in the 4th quarter worth approximately $2,608,000. UBS Group AG raised its holdings in shares of iRhythm Technologies by 190.3% during the fourth quarter. UBS Group AG now owns 153,218 shares of the company’s stock valued at $27,187,000 after acquiring an additional 100,435 shares in the last quarter. Rock Springs Capital Management LP lifted its stake in iRhythm Technologies by 11.4% in the first quarter. Rock Springs Capital Management LP now owns 261,750 shares of the company’s stock worth $30,892,000 after acquiring an additional 26,750 shares during the period. M&T Bank Corp purchased a new stake in iRhythm Technologies in the fourth quarter worth $3,933,000. Finally, Legal & General Group Plc boosted its holdings in iRhythm Technologies by 24.0% in the fourth quarter. Legal & General Group Plc now owns 52,070 shares of the company’s stock valued at $9,239,000 after acquiring an additional 10,065 shares in the last quarter.

Trending Headlines about iRhythm Technologies

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.

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.