BTIG Research Issues Pessimistic Forecast for iRhythm Technologies (NASDAQ:IRTC) Stock Price

iRhythm Technologies (NASDAQ:IRTC) had its price objective cut by equities researchers at BTIG Research from $185.00 to $170.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research‘s target price would indicate a potential upside of 88.43% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Needham & Company LLC reduced their price objective on iRhythm Technologies from $194.00 to $165.00 and set a “buy” rating for the company in a research note on Friday. Wells Fargo & Company cut their target price on iRhythm Technologies from $168.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 6th. Citigroup downgraded iRhythm Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the company from $157.00 to $124.00 in a report on Friday. Stephens initiated coverage on iRhythm Technologies in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $160.00 price target for the company. Finally, Canaccord Genuity Group lifted their price target on iRhythm Technologies from $196.00 to $206.00 and gave the stock a “buy” rating in a research note on Friday. Two investment 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $171.07.

iRhythm Technologies Price Performance

Shares of IRTC opened at $90.22 on Friday. iRhythm Technologies has a one year low of $86.30 and a one year high of $192.47. The stock’s fifty day moving average is $114.95 and its 200-day moving average is $121.69. The company has a debt-to-equity ratio of 3.50, a quick ratio of 3.74 and a current ratio of 3.86. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -77.11 and a beta of 1.39.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, November 5th. The company reported $0.82 earnings per share 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 the consensus estimate of $222.23 million. iRhythm Technologies had a positive return on equity of 27.30% and a negative net margin of 4.52%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) earnings per share. Equities analysts anticipate 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 modified their holdings of the stock. Versant Capital Management Inc raised its stake in shares of iRhythm Technologies by 123.2% during the 3rd quarter. Versant Capital Management Inc now owns 221 shares of the company’s stock worth $25,000 after purchasing an additional 122 shares in the last quarter. Covestor Ltd grew its stake in shares of iRhythm Technologies by 44.8% in the 3rd quarter. Covestor Ltd now owns 417 shares of the company’s stock valued at $47,000 after buying an additional 129 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of iRhythm Technologies in the 2nd quarter valued at approximately $50,000. Assetmark Inc. grew its stake in shares of iRhythm Technologies by 30.1% in the 1st quarter. Assetmark Inc. now owns 821 shares of the company’s stock valued at $97,000 after buying an additional 190 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in iRhythm Technologies by 842.2% in the third quarter. Sterling Capital Management LLC now owns 1,093 shares of the company’s stock worth $124,000 after buying an additional 977 shares during the last quarter.

Key Stories Impacting 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

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.