iRhythm Technologies (NASDAQ:IRTC) Given New $135.00 Price Target at Wells Fargo & Company

iRhythm Technologies (NASDAQ:IRTC) had its price target cut by Wells Fargo & Company from $150.00 to $135.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also weighed in on IRTC. Wall Street Zen lowered iRhythm Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Citigroup downgraded iRhythm Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the company from $157.00 to $124.00 in a research report on Friday. BTIG Research reduced their price target on iRhythm Technologies from $185.00 to $170.00 and set a “buy” rating on the stock in a report on Friday. Weiss Ratings raised iRhythm Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 27th. Finally, Piper Sandler lowered their price objective on iRhythm Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $171.07.

iRhythm Technologies Price Performance

iRhythm Technologies stock traded down $39.97 during midday trading on Friday, reaching $90.22. The company’s stock had a trading volume of 5,666,907 shares, compared to its average volume of 508,477. iRhythm Technologies has a 52 week low of $86.30 and a 52 week high of $192.47. 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 business has a 50-day moving average price of $114.95 and a 200-day moving average price of $121.69. The stock has a market cap of $2.97 billion, a PE ratio of -77.11 and a beta of 1.39.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Thursday, November 5th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.80. The firm had revenue of $221.59 million during the quarter, compared to analysts’ expectations of $222.23 million. iRhythm Technologies had a negative net margin of 1.69% and a positive return on equity of 10.11%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share. On average, sell-side analysts predict that iRhythm Technologies will post 0.54 EPS for the current year.

Hedge Funds Weigh In On iRhythm Technologies

A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in shares of iRhythm Technologies by 99.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 390,577 shares of the company’s stock worth $46,096,000 after purchasing an additional 194,502 shares during the period. M&G PLC acquired a new stake in shares of iRhythm Technologies during the third quarter worth $13,905,000. Russell Investments Group Ltd. increased its position in shares of iRhythm Technologies by 384.7% during the third quarter. Russell Investments Group Ltd. now owns 111,451 shares of the company’s stock worth $12,668,000 after buying an additional 88,459 shares during the period. Granahan Investment Management LLC raised its stake in iRhythm Technologies by 567.9% during the first quarter. Granahan Investment Management LLC now owns 96,022 shares of the company’s stock worth $11,333,000 after buying an additional 81,645 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in iRhythm Technologies by 1,065.8% during the second quarter. Squarepoint Ops LLC now owns 71,862 shares of the company’s stock worth $8,548,000 after buying an additional 65,698 shares during the last quarter.

More 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

iRhythm Technologies Company Profile

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.