JPMorgan Chase & Co. Has Lowered Expectations for iRhythm Technologies (NASDAQ:IRTC) Stock Price

Key Points

• JPMorgan cut its price target for iRhythm from $215 to $175 while maintaining an "overweight" rating, with the new target implying roughly a 48.7% upside from the then-current share price.
• Q1 results beat estimates—revenue was $199.4M (+25.6% YoY) and adjusted loss per share was $0.35—yet the stock fell about 8.9% to $117.68 and FY2026 revenue guidance came in roughly in line with consensus.
• Insider selling and mixed analyst coverage are notable: insiders sold ~94,509 shares (~$12.7M) in the last 90 days, while the Street consensus is a "Moderate Buy" with an average price target near $199.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $215.00 to $175.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 48.71% from the stock's current price.

IRTC has been the subject of a number of other reports. Freedom Capital raised iRhythm Technologies to a "strong-buy" rating in a research report on Thursday, January 15th. The Goldman Sachs Group lowered their price objective on shares of iRhythm Technologies from $184.00 to $147.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of iRhythm Technologies in a report on Tuesday, April 21st. Morgan Stanley restated an "overweight" rating on shares of iRhythm Technologies in a report on Monday, January 12th. Finally, Evercore raised shares of iRhythm Technologies from an "in-line" rating to an "outperform" rating and raised their price target for the company from $194.00 to $210.00 in a research report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $199.15.

iRhythm Technologies Stock Down 8.9%

NASDAQ IRTC traded down $11.49 on Friday, hitting $117.68. 893,509 shares of the company were exchanged, compared to its average volume of 627,096. The company has a current ratio of 4.63, a quick ratio of 4.48 and a debt-to-equity ratio of 4.25. The company has a market cap of $3.87 billion, a PE ratio of -84.05 and a beta of 1.18. The stock has a fifty day moving average of $122.93 and a 200-day moving average of $154.60. 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 posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.31. iRhythm Technologies had a negative net margin of 5.96% and a negative return on equity of 28.15%. The firm had revenue of $199.39 million during the quarter, compared to the consensus estimate of $194.11 million. During the same period in the previous year, the firm posted ($0.97) earnings per share. The business's revenue was up 25.6% compared to the same quarter last year. As a group, analysts forecast that iRhythm Technologies will post -0.16 earnings per share for the current year.

Insider Activity

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 7,805 shares of the business's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total value of $1,056,953.10. Following the transaction, the insider owned 60,536 shares of the company's stock, valued at approximately $8,197,785.12. The trade was a 11.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chad Patterson sold 8,967 shares of the firm's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $135.42, for a total value of $1,214,311.14. Following the sale, the insider directly owned 51,738 shares of the company's stock, valued at approximately $7,006,359.96. This represents a 14.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 94,509 shares of company stock worth $12,734,195. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC purchased a new position in iRhythm Technologies in the third quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC purchased a new stake in iRhythm Technologies in the third quarter worth $30,000. GAMMA Investing LLC increased its position in iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company's stock worth $33,000 after buying an additional 60 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of iRhythm Technologies by 100.0% in the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company's stock valued at $34,000 after buying an additional 99 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of iRhythm Technologies during the 3rd quarter valued at $34,000.

iRhythm Technologies News Roundup

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

• Positive Sentiment: Q1 results beat expectations — Revenue of $199.4M (+25.6% YoY) and adjusted loss per share of $0.35 topped estimates, showing meaningful top‑line growth and an improving EPS trend. This underpins continued adoption of iRhythm’s diagnostic service. Read More.
• Positive Sentiment: Needham raised its price target to $255 and maintains a Buy — a bullish analyst signal that implies substantial upside and supports a longer‑term growth narrative. Read More.
• Positive Sentiment: Street commentary highlights the quarter as a rebound: coverage notes the revenue and loss improvement vs. prior year, which can support multiple expansion if margins continue to improve. Read More.
• Neutral Sentiment: FY2026 revenue guidance was issued roughly in line with consensus (~$875–885M vs. $876M street est.), which removes the upside surprise element and leaves investors focused on margin/cost trajectory. Read More.
• Neutral Sentiment: Management commentary and the full earnings call transcript provide more color on adoption, margin improvement and investments in AI/regulatory work — important for medium‑term thesis but not immediately catalytic. Read More.
• Neutral Sentiment: Analyst/market deep dives highlight market expansion and AI/regulatory developments as potential long‑term positives; these are thematic and may take time to move the stock. Read More.
• Negative Sentiment: Wells Fargo cut its price target from $200 to $180 (still Overweight), which may signal more cautious near‑term outlook from some investors and contributed to selling pressure. Read More.
• Negative Sentiment: Truist reduced its price target ahead of the quarter, another headwind that can weigh on sentiment and short‑term flows. Read More.

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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