iRhythm (IRTC)
Provider of Zio patch-based ECG monitoring, analytics, and physician-ready cardiac reports.
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Provides prescription ambulatory cardiac monitoring through Zio ECG patches, cloud analytics, technician-validated reports, and physician workflow software. Service revenue comes mainly from U.S. commercial payors and Medicare, making reimbursement policy, diagnostic-facility rules, and device regulation central to the model.
Provides prescription ambulatory cardiac monitoring through Zio monitor and previous-generation Zio XT for end-of-wear analysis, plus Zio AT for mobile cardiac telemetry during wear. Patients use wire-free ECG patches for up to 14 days; ZEUS cloud software analyzes the recordings, qualified technicians validate findings, and physicians receive reports through ZioSuite, electronic health record connections, or mobile apps.
Combines wearable design, a large curated ECG data set, proprietary algorithms, technician-run diagnostic operations, and integrations that fit clinical workflows. Substantially all revenue comes from the United States, mainly through commercial insurers and Medicare, with smaller direct sales to hospitals and physician practices; the United Kingdom, selected European markets, and Japan remain expansion markets. Orders require licensed providers, and service revenue depends on coverage, coding, reimbursement rates, FDA clearances, Medicare-enrolled diagnostic facilities, and health-data compliance.
Company facts
Categories
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 18, 2026 | Wells Fargo | Reiterate | Overweight | $225 | $168 |
| Aug 10, 2026 | Truist Financial | Target | $160 | $168 | |
| Aug 7, 2026 | Evercore ISI | Reiterate | Outperform | $150 | $165 |
| Aug 7, 2026 | Robert W. Baird | Target | $175 | $165 | |
| Aug 7, 2026 | Canaccord Genuity | Target | $152 | $196 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $591.3M · Total debt $727.3M · Total assets $1.09B · Shareholders' equity $186.0M
- Revenue
- $224.2M
- Operating income
- −$2.5M
- Net income
- −$381.0K
No dividends on record.
| Institutions317 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | ≈ 110.02% | 36.26M shares | |
| Insiders21 holders · as of Aug 11, 2026 | 2.10% | 693.1K shares | |
| Strategic holders2 holders · as of Aug 13, 2026 | 11.36% | 3.75M shares | |
| Adds to | 123.48% |
32.96M company shares as of Sep 3, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 123.48%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
BlackRock, Inc.Institution | 9.06% | 2.99M | 13Fas of Jun 30, 2026 |
RTW Investments, LPInstitution | 6.62% | 2.18M | 13Fas of Jun 30, 2026 |
BlackRock, Inc.Strategic | 6.32% | 2.08M | 13D/Gfiled Feb 3, 2022 ↗ |
Vanguard Portfolio Management LLCInstitution | 5.81% | 1.91M | 13Fas of Jun 30, 2026 |
Mackenzie Financial CorporationInstitution | 5.11% | 1.69M | 13D/Gfiled Feb 4, 2022 ↗ |
| See all 25 → | |||
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | Minang Turakhia | officer: CHIEF MED/SCI OFCR EVP ADVTECH | −7,093 | $124.65 |
| Aug 10, 2026 | Sumi Shrishrimal | officer: EVP, Chief Risk Officer | −5,372 | $124.65 |
| Aug 10, 2026 | Chad Patterson | officer: CHIEF COMM & PRODUCT OFFICER | −7,093 | $124.65 |
| Aug 10, 2026 | Patrick Michael Murphy | officer: CBO and CLO | −7,093 | $124.65 |
| Aug 10, 2026 | Quentin S. Blackford | director, officer: President and CEO | −26,859 | $124.65 |
- Boston Scientific
Direct BodyGuardian rival across LTCM, Holter, MCT, and event monitoring
- Philips (ADR)
BioTelemetry-derived MCOT and ePatch rival Zio services
- Baxter International
Bardy CAM is a direct long-term ECG patch alternative
- GE HealthCare
Ambulatory ECG and Holter workflow rival in health systems
- Medtronic
Insertable cardiac monitoring substitutes for longer rhythm surveillance
- Abbott
AI-enabled insertable monitors compete in long-duration detection
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| iRhythm | $121.95 | −0.55% | $4.03B | — | 245.7 | 4.9 | +20.1% |
| Boston Scientific | $48.42 | +0.09% | $71.90B | 19.7 | 14.6 | 3.4 | +7.5% |
| Philips (ADR) | $26.22 | −0.62% | $25.77B | 19.6 | 13.5 | 1.3 | −2.9% |
| Baxter International | $25.61 | −0.31% | $13.29B | — | 12.2 | 1.2 | +5.3% |
| GE HealthCare | $70.63 | +0.13% | $31.87B | 20.5 | 13.6 | 1.6 | +5.8% |
| Medtronic | $92.40 | +0.22% | $118.00B | 22.7 | 15.3 | 3.1 | +13.7% |
| Abbott | $111.49 | +0.93% | $191.19B | 35.5 | 19.0 | 4.1 | +13.0% |
| Median | 20.5 | 14.1 | 2.4 | +6.7% |