iRhythm Holdings, Inc. (IRTC) Stock Analysis
Recovery setup
Healthcare · Medical Devices
Sell if holding. Momentum 3.8/10 is below the 5.0 floor at $113.76 — engine's falling-knife protection flags exit rather than catching a breakdown. Specifics: Leverage penalty (D/E 4.5): -1.5; Concentration risk — Product: iRhythm Services.
iRhythm provides ambulatory cardiac monitoring services using its Zio patch biosensors (up to 14-day continuous wear) and proprietary cloud-based ZEUS analysis software via Medicare-enrolled IDTFs. It is the market leader delivering over 70% of LTCM services in the U.S.; ~24% of... Read more
Sell if holding. Momentum 3.8/10 is below the 5.0 floor at $113.76 — engine's falling-knife protection flags exit rather than catching a breakdown. Specifics: Leverage penalty (D/E 4.5): -1.5; Concentration risk — Product: iRhythm Services. Chart setup: Death cross but MACD improving, RSI 46. Score 5.7/10, moderate confidence.
Passes 6/10 gates (favorable risk/reward ratio, clean insider activity, news boost analyst 0.60, earnings proximity 44d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and death cross (50MA < 200MA) and SEC filing concern and news legal. Suitability: aggressive.
About iRhythm Holdings, Inc.
About iRhythm Holdings, Inc.
The Zio monitor, Zio XT, and Zio AT — iRhythm Holdings' three FDA-cleared patch-based cardiac monitors — generate substantially all of the company's revenue through long-term continuous monitoring (LTCM) and mobile cardiac telemetry (MCT) services billed to Medicare (approximately 24% of 2025 revenue) and commercial payors. The company employed approximately 2,400 regular full-time employees at December 31, 2025 and has delivered more than 12 million patient reports since inception, holding approximately 40% penetration of the U.S. ambulatory cardiac monitoring market.
iRhythm earns fee-for-service reimbursement from Medicare and commercial payors for LTCM and MCT services performed through its Medicare-enrolled IDTFs. CMS updates national payment rates annually via the Medicare Physician Fee Schedule; effective January 1, 2026, rates for CPT codes 93247, 93243, and 93229 increased versus 2025, though future year-over-year increases are not guaranteed. Distribution is direct-to-physician: ordering physicians apply Zio patches, patients return the device to iRhythm's IDTF, and proprietary FDA-cleared deep-learning algorithms process ECG data before qualified technicians validate and transmit reports via the ZioSuite portal or EHR connections. Competitors named in the filing include GE Healthcare, Philips Healthcare, BioTelemetry (now part of Royal Philips), and Preventice Solutions (now part of Boston Scientific).
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Three Medicare Administrative Contractors — Noridian Healthcare Solutions, Palmetto GBA, and CGS Administrators — published proposed local coverage determinations in September 2025 regarding ambulatory cardiac monitoring, with a public comment period closing November 2025. If adopted in a restrictive form, these LCDs could require iRhythm to revise its business model, billing processes, and compliance controls. CMS may also reduce CPT code reimbursement rates in future years, and commercial payors may terminate contracts with prior written notice, exposing the company to concentrated revenue risk from key payer relationships.
See also: Healthcare · Medical Devices
From iRhythm Holdings, Inc.'s most recent 10-K filing, extracted June 10, 2026.
Recent developments
updated 2026-06-17Recent Developments — iRhythm Holdings, Inc.
Latest news
- NEWS Here's why you should retain IRTC stock in your portfolio for now - MSN — MSN positive
- NEWS IRTC (iRhythm Holdings Inc.) delivers massive Q4 2025 EPS beat against analyst estimates, stock rises modestly in daily — Cổng thông tin điện tử tỉnh Tây Ninh positive
- NEWS IRTC Reiterated by BTIG -- Price Target Maintained at $185 - GuruFocus — GuruFocus positive
- NEWS Is It Time To Reassess iRhythm Holdings (IRTC) After Recent Share Price Rebound - Yahoo Finance — Yahoo Finance positive
- NEWS How New Zio Data and iRhythm Academy Could Shape iRhythm Holdings’ (IRTC) Cardiac Care Strategy - Sahm — Sahm positive
Generated 2026-06-17T09:02:27Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHProductiRhythm Services10-K Item 1A: 'Our current revenue is dependent on orders for our iRhythm Services, and we expect that reimbursement for our iRhythm Services will account for substantially all our revenue for the foreseeable future.'
- LOWregulatoryMedicare program (CMS)24%10-K Item 1A: 'During the year ended December 31, 2025, we received approximately 24% of our total revenue from the Medicare program through CMS.'
Material Events(8-K, last 90d)
- 2026-04-01Item 4.01HIGHPricewaterhouseCoopers LLP dismissed as independent registered public accounting firm on March 30, 2026. No disagreements or reportable events in PwC audit reports for FY2025 and FY2024. Successor auditor not named in this filing.SEC filing →
- 2026-03-12Item 5.02LOWJason Patten appointed as director and Audit Committee member effective March 12, 2026, for term expiring at 2026 Annual Meeting. Board determined Patten is independent under Nasdaq standards.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
2 floor-breakers·1 ceiling hit
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Price action weak — below key moving averages, no momentum carry. Needs a base before trend-continuation setups apply.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Momentum 3.8/10 is below the 5.0 floor at $113.76 — engine's falling-knife protection flags exit rather than catching a breakdown. Specifics: Leverage penalty (D/E 4.5): -1.5; Concentration risk — Product: iRhythm Services. Chart setup: Death cross but MACD improving, RSI 46. Prior stop was $101.22. Score 5.7/10, moderate confidence.
Take-profit target: $155.67 (+43.0% upside). Prior stop was $101.22. Stop-loss: $101.22.
Concentration risk — Product: iRhythm Services; Leverage penalty (D/E 4.5): -1.5; Negative momentum.
iRhythm Holdings, Inc. trades at a P/E of N/A (forward 108.2). TrendMatrix value score: 6.8/10. Verdict: Sell.
21 analysts cover IRTC with a consensus score of 4.3/5. Average price target: $179.
What does iRhythm Holdings, Inc. do?iRhythm provides ambulatory cardiac monitoring services using its Zio patch biosensors (up to 14-day continuous wear)...
iRhythm provides ambulatory cardiac monitoring services using its Zio patch biosensors (up to 14-day continuous wear) and proprietary cloud-based ZEUS analysis software via Medicare-enrolled IDTFs. It is the market leader delivering over 70% of LTCM services in the U.S.; ~24% of 2025 revenue came from Medicare.