Canaccord Genuity Lowers iRhythm Technologies Price Target

Analysts cut price target to $198 despite strong Q4 earnings report

Feb. 20, 2026 at 9:04pm by Ben Kaplan

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Research firm Canaccord Genuity Group has lowered its price target for iRhythm Technologies (NASDAQ:IRTC) from $212 to $198, though it maintained a "buy" rating on the stock. The move comes despite iRhythm reporting better-than-expected Q4 results, including revenue growth of 27.1% year-over-year and positive GAAP net income.

Why it matters

iRhythm is a leading provider of wearable cardiac monitoring devices and data analytics services. The company's strong Q4 performance suggests continued growth momentum, but the analyst price target cut indicates some lingering concerns about the stock's valuation and near-term outlook.

The details

In its research note, Canaccord Genuity cited iRhythm's Q4 revenue of $208.9 million and earnings per share of $0.29, both of which exceeded consensus estimates. The firm also noted iRhythm's improved gross margins and the first quarter of positive GAAP net income. However, Canaccord Genuity still lowered its price target from $212 to $198, though it maintained a "buy" rating on the stock.

  • iRhythm reported its Q4 2025 results on February 19, 2026.

The players

Canaccord Genuity Group

A global financial services firm that provides investment banking, wealth management, and capital markets services.

iRhythm Technologies

An American medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services.

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The takeaway

Despite iRhythm's strong Q4 performance, the analyst price target cut suggests some lingering concerns about the stock's valuation and near-term outlook. Investors will be closely watching the company's progress in expanding its market share and improving profitability in the coming quarters.