iRhythm Technologies (NASDAQ:IRTC) Shares Cross Below 200 Day Moving Average Following Analyst Downgrade

iRhythm Technologies (NASDAQ:IRTC)’s share price crossed below its 200-day moving average during trading on Friday after Wells Fargo & Company lowered their price target on the stock from $150.00 to $135.00. The stock has a 200-day moving average of $121.69 and traded as low as $86.30. Wells Fargo & Company currently has an overweight rating on the stock. iRhythm Technologies shares last traded at $90.22, with a volume of 5,666,907 shares traded.

Several other research firms also recently weighed in on IRTC. BTIG Research cut their price target on iRhythm Technologies from $185.00 to $170.00 and set a “buy” rating for the company in a research note on Friday. Citigroup downgraded iRhythm Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $157.00 to $124.00 in a research note on Friday. Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $196.00 to $206.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings raised shares of 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 target price on shares of iRhythm Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $171.07.

iRhythm Technologies News Roundup

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

Institutional Trading of iRhythm Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRTC. Russell Investments Group Ltd. lifted its position in shares of iRhythm Technologies by 384.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 111,451 shares of the company’s stock valued at $12,668,000 after buying an additional 88,459 shares in the last quarter. Knights of Columbus Asset Advisors LLC acquired a new stake in shares of iRhythm Technologies during the third quarter worth $2,398,000. M&G PLC acquired a new position in iRhythm Technologies during the 3rd quarter worth approximately $13,905,000. Fulcrum Asset Management LLP purchased a new position in shares of iRhythm Technologies in the 3rd quarter valued at about $321,000. Finally, Covestor Ltd boosted its position in shares of iRhythm Technologies by 44.8% in the 3rd quarter. Covestor Ltd now owns 417 shares of the company’s stock worth $47,000 after buying an additional 129 shares in the last quarter.

iRhythm Technologies Price Performance

The company has a 50-day moving average price of $114.95 and a 200-day moving average price of $121.69. The firm has a market capitalization of $2.97 billion, a PE ratio of -77.11 and a beta of 1.39. The company has a debt-to-equity ratio of 3.50, a current ratio of 3.86 and a quick ratio of 3.74.

iRhythm Technologies (NASDAQ:IRTC) last released its 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 negative net margin of 1.69% and a positive return on equity of 10.11%. 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 previous year, the firm earned ($0.06) earnings per share. iRhythm Technologies’s revenue was up 14.9% compared to the same quarter last year. Sell-side analysts forecast that iRhythm Technologies will post 0.54 EPS for the current year.

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.