Piper Sandler Issues Pessimistic Forecast for iRhythm Technologies (NASDAQ:IRTC) Stock Price

iRhythm Technologies (NASDAQ:IRTC) had its price target dropped by stock analysts at Piper Sandler from $160.00 to $150.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler‘s price target would indicate a potential upside of 66.26% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. Stephens assumed coverage on iRhythm Technologies in a report on Thursday, July 23rd. They set an “overweight” rating and a $160.00 price target on the stock. Wells Fargo & Company reduced their price objective on iRhythm Technologies from $168.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, October 6th. Needham & Company LLC decreased their price objective on iRhythm Technologies from $194.00 to $165.00 and set a “buy” rating for the company in a research report on Friday. BTIG Research lowered their target price on iRhythm Technologies from $185.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Canaccord Genuity Group lifted their target price on iRhythm Technologies from $196.00 to $206.00 and gave the company a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.07.

iRhythm Technologies Price Performance

iRhythm Technologies stock opened at $90.22 on Friday. The stock has a market cap of $2.97 billion, a P/E ratio of -77.11 and a beta of 1.39. The company has a fifty day simple moving average of $114.95 and a 200-day simple moving average of $121.69. iRhythm Technologies has a 12-month low of $86.30 and a 12-month 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.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.80. iRhythm Technologies had a positive return on equity of 27.30% and a negative net margin of 4.52%. The firm had revenue of $221.59 million during the quarter, compared to the consensus estimate of $222.23 million. During the same period in the prior year, the company posted ($0.06) earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts expect that iRhythm Technologies will post 0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On iRhythm Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co lifted its stake in shares of iRhythm Technologies by 77.6% during the third quarter. Diversified Trust Co now owns 5,972 shares of the company’s stock valued at $679,000 after buying an additional 2,610 shares during the period. Russell Investments Group Ltd. boosted its position in 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 acquiring an additional 88,459 shares during the last quarter. Knights of Columbus Asset Advisors LLC purchased a new stake in iRhythm Technologies in the 3rd quarter worth approximately $2,398,000. M&G PLC purchased a new stake in iRhythm Technologies in the 3rd quarter worth approximately $13,905,000. Finally, Fulcrum Asset Management LLP acquired a new position in iRhythm Technologies in the 3rd quarter valued at $321,000.

Trending Headlines about iRhythm Technologies

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

About iRhythm Technologies

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.