iRhythm Technologies (NASDAQ:IRTC) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded iRhythm Technologies (NASDAQ:IRTC) from a "hold" to a "buy" in a report issued to clients on Sunday.
• Q1 results beat expectations: revenue was $199.4M (up 25.6% YoY) and EPS was ($0.35) versus a consensus ($0.56), while FY2026 revenue guidance of ~$875–$885M was roughly in line with estimates.
• Mixed analyst and insider signals: the stock has a consensus "Moderate Buy" rating with an average price target of $197.77 amid several price‑target cuts, and insiders sold 94,509 shares in the past 90 days (insider ownership ~1.10%).

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

A number of other analysts have also issued reports on the stock. Citigroup cut their price target on shares of iRhythm Technologies from $242.00 to $214.00 and set a "buy" rating on the stock in a research note on Wednesday, March 11th. Wells Fargo & Company cut their price target on shares of iRhythm Technologies from $200.00 to $180.00 and set an "overweight" rating on the stock in a research note on Friday. The Goldman Sachs Group cut their price target on shares of iRhythm Technologies from $184.00 to $147.00 and set a "neutral" rating on the stock in a research note on Thursday, April 9th. Freedom Capital upgraded shares of iRhythm Technologies to a "strong-buy" rating in a research note on Thursday, January 15th. Finally, Evercore upgraded shares of iRhythm Technologies from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $194.00 to $210.00 in a research note on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $197.77.

iRhythm Technologies Price Performance

Shares of NASDAQ IRTC opened at $120.80 on Friday. The firm's 50 day simple moving average is $122.93 and its 200-day simple moving average is $154.44. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -140.46 and a beta of 1.33. iRhythm Technologies has a 12 month low of $112.31 and a 12 month high of $212.00.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.21. The company had revenue of $199.39 million during the quarter, compared to the consensus estimate of $194.11 million. iRhythm Technologies had a negative return on equity of 10.97% and a negative net margin of 3.53%.iRhythm Technologies's revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.97) EPS. Analysts expect that iRhythm Technologies will post -0.16 EPS for the current year.

Insider Buying and Selling at iRhythm Technologies

In other news, EVP Sumi Shrishrimal sold 6,217 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total transaction of $841,906.14. Following the completion of the transaction, the executive vice president directly owned 39,182 shares of the company's stock, valued at approximately $5,306,026.44. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Quentin S. Blackford sold 25,540 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total value of $3,458,626.80. Following the transaction, the chief executive officer directly owned 186,126 shares of the company's stock, valued at approximately $25,205,182.92. This represents a 12.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 94,509 shares of company stock valued at $12,734,195. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On iRhythm Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its holdings in iRhythm Technologies by 17,068.9% in the first quarter. Fifth Third Bancorp now owns 15,452 shares of the company's stock valued at $1,824,000 after purchasing an additional 15,362 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in iRhythm Technologies by 8.1% in the first quarter. Stephens Investment Management Group LLC now owns 561,530 shares of the company's stock valued at $66,272,000 after purchasing an additional 42,205 shares in the last quarter. Peregrine Capital Management LLC boosted its holdings in iRhythm Technologies by 15.8% in the first quarter. Peregrine Capital Management LLC now owns 65,875 shares of the company's stock valued at $7,775,000 after purchasing an additional 9,007 shares in the last quarter. MRA Advisory Group boosted its holdings in iRhythm Technologies by 15.9% in the first quarter. MRA Advisory Group now owns 3,210 shares of the company's stock valued at $379,000 after purchasing an additional 441 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in iRhythm Technologies by 11.8% in the first quarter. Pictet Asset Management Holding SA now owns 5,492 shares of the company's stock valued at $648,000 after purchasing an additional 580 shares in the last quarter.

Key iRhythm Technologies News

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.

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