Needham & Company LLC Issues Positive Forecast for iRhythm Technologies (NASDAQ:IRTC) Stock Price

02 May 2026, 12:44 by Renee Jackson · The Cerbat Gem

iRhythm Technologies (NASDAQ:IRTC – Free Report) had its target price hoisted by Needham & Company LLC from $254.00 to $255.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. Robert W. Baird cut their price target on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Citigroup cut their price target on iRhythm Technologies from $242.00 to $214.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Wells Fargo & Company cut their price target on iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. The Goldman Sachs Group cut their price target on iRhythm Technologies from $184.00 to $147.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Finally, Truist Financial cut their price target on iRhythm Technologies from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $197.77.

Check Out Our Latest Research Report on iRhythm Technologies

iRhythm Technologies Stock Down 6.5%

Shares of IRTC stock traded down $8.36 during midday trading on Friday, reaching $120.80. 1,336,081 shares of the stock were exchanged, compared to its average volume of 389,157. iRhythm Technologies has a 1 year low of $112.31 and a 1 year high of $212.00. The company’s 50 day moving average is $122.93 and its two-hundred day moving average is $154.60. 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 firm has a market cap of $3.97 billion, a PE ratio of -86.29 and a beta of 1.18.

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, topping the consensus estimate of ($0.56) by $0.21. The company had revenue of $199.39 million for the quarter, compared to the consensus estimate of $194.11 million. iRhythm Technologies had a negative return on equity of 10.97% and a negative net margin of 3.53%.The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.97) EPS. On average, equities research analysts predict that iRhythm Technologies will post -0.16 EPS for the current year.

Insiders Place Their Bets

In related news, insider Chad Patterson sold 8,967 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total value of $1,214,311.14. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Quentin S. Blackford sold 25,540 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $135.42, for a total value of $3,458,626.80. Following the completion of the transaction, the chief executive officer directly owned 186,126 shares in the company, valued at $25,205,182.92. This trade represents a 12.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 94,509 shares of company stock worth $12,734,195 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On iRhythm Technologies

A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in iRhythm Technologies by 423.0% in the 1st quarter. Royal Bank of Canada now owns 7,573 shares of the company’s stock worth $793,000 after buying an additional 6,125 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in iRhythm Technologies by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 433,780 shares of the company’s stock worth $45,408,000 after buying an additional 108,941 shares in the last quarter. Strs Ohio purchased a new stake in iRhythm Technologies in the 1st quarter worth $147,000. Arrowstreet Capital Limited Partnership purchased a new stake in iRhythm Technologies in the 2nd quarter worth $1,278,000. Finally, First Trust Advisors LP increased its stake in iRhythm Technologies by 66.0% in the 2nd quarter. First Trust Advisors LP now owns 56,197 shares of the company’s stock worth $8,652,000 after buying an additional 22,337 shares in the last quarter.

Trending Headlines about iRhythm Technologies

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

Positive Sentiment: Q1 results beat on revenue and EPS trends: iRhythm reported $199.4M in revenue (up 25.6% YoY) and a loss per share that was smaller than expected, indicating improving unit economics and topline momentum. This supports longer‑term growth expectations. IRTC Q1 results and call (MarketBeat)
Positive Sentiment: Needham raised its price target slightly to $255 and keeps a “buy” rating, signaling conviction from at least one growth‑oriented shop and providing a bullish anchor for longer‑term upside. Needham raises PT to $255 (Benzinga)
Neutral Sentiment: Company guidance: iRhythm issued FY2026 revenue guidance (~$875–$885M) roughly in line with consensus, which is steady but not clearly bullish; EPS guidance was not meaningfully changed. Guidance that meets expectations can temper upside momentum. IRTC Q1 financial results press release (GlobeNewswire)
Neutral Sentiment: Additional context available from the Q1 earnings call transcript and analyst previews/deep dives — useful for investors evaluating margin progression, reimbursement/regulatory updates and AI initiatives but not immediate price catalysts by themselves. Q1 earnings call transcript (Seeking Alpha)
Negative Sentiment: Analyst price‑target cuts from JPMorgan (PT lowered to $175 from $215) and Wells Fargo (PT lowered to $180 from $200) are exerting immediate downward pressure by reducing visible upside and prompting some investors to trim positions. JPMorgan & Wells Fargo lower PTs (Benzinga)
Negative Sentiment: Truist and other outlets flagged cuts to targets in their Q1 previews, adding to the sell‑side pushback; persistent negative margins and a negative return on equity keep valuation sensitive to near‑term profitability improvements. Truist cuts PT on IRTC (Yahoo Finance)

iRhythm Technologies Company Profile

(Get Free Report)

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.