IRTC
iRhythm Technologies Inc
NASDAQ: IRTC · HEALTHCARE · MEDICAL DEVICES
$116.84
+0.70% today
Updated 2026-06-05
Market cap
$3.73B
P/E ratio
—
P/S ratio
4.74x
EPS (TTM)
$-0.85
Dividend yield
—
52W range
$102 – $212
Volume
0.5M
iRhythm Technologies Inc (IRTC) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed IRTC price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$116.84
Today
Analyst consensus
$191.85
+64.20% · 12M
2030 Base
$60.39
-48.31% future
NPV today
$36.11
@ 12% WACC
15 analysts:
11 Buy1 Hold1 Sell
Management guidance
CEO Quentin Blackford guided FY2026 revenue to $875M-$885M (raised from prior $870M-$880M), implying 17-18% growth. Management targeting 15% adjusted EBITDA margin and 73% gross margin by 2027, with MCT (Mobile Cardiac Telemetry) launch in H1 2027 as major inflection catalyst. Long-term targets suggest confidence in sustained mid-to-high teens growth through 2027+.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
IRTC · iRhythm Technologies Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$11.44
NPV today: $6.84
Base case (2030)
$60.39
NPV today: $36.11
Bull case (2030)
$207.25
NPV today: $123.93
WallStSmart.com
IRTC financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $0.7B | $0.9B | $1.0B | $1.3B | $1.5B | $1.7B |
| Revenue growth | 26.2% | 17.8% | 18.2% | 21.6% | 19.3% | 15.5% |
| Net margin | — | 0.3% | 2.1% | 3.6% | 4.6% | 5.5% |
| EPS | $-1.16 | $0.08 | $0.65 | $1.32 | $1.98 | $2.68 |
| Diluted shares | — | 33M | 34M | 35M | 35M | 36M |
| Net debt | — | $757.09M | $865.59M | $997.56M | $1.16B | $1.34B |
| P/S multiple | — | 2.0x | 2.0x | 2.0x | 2.0x | 2.0x |
| Implied price (base) | — | $29.95 | $35.62 | $44.25 | $53.05 | $60.39 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $1.7B | $1.7B | $1.7B |
| P/S multiple | 1.0x | 2.0x | 5.0x |
| Diluted shares | 36M | 36M | 36M |
| Net debt | $1.34B | $1.34B | $1.34B |
| Implied P/E † | 4x | 23x | 77x |
| 2030 Price | $11.44 | $60.39 | $207.25 |
| NPV @ 12% | $6.84 | $36.11 | $123.93 |
† Implied P/E: Multiples remain elevated across all three scenarios because IRTC is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $60.39 base case
IRTC catalysts and risks
Growth catalysts
+ Zio MCT (Mobile Cardiac Telemetry) product launch H1 2027 — next-generation platform with expanded clinical utility and pricing power
+ Medicare coverage expansion and favorable reimbursement — recent wins driving primary care adoption and volume acceleration
+ AI-driven algorithm improvements and workflow automation — reducing scan processing time and labor costs, driving margin expansion toward 15% EBITDA target
+ International market expansion — early momentum in Asia-Pacific and Europe with significant whitespace TAM
+ Zio AT (Atrial Fibrillation Monitoring) and sleep diagnostics expansion — adjacent markets leveraging core cardiac monitoring platform
Key risks
- Reimbursement pressure or Medicare coverage cuts — highly dependent on favorable CPT coding and reimbursement rates which are subject to policy change
- Competitive intensity from Holter monitor alternatives and wearables (e.g., Apple Watch, Garmin) — commoditization risk in lower-acuity segments
- FDA regulatory scrutiny — company faced FDA warning letter in 2024; future compliance issues could impact product launches (MCT timing critical)
- Class action litigation — ongoing Bronstein Gewirtz investigation into alleged corporate wrongdoing may create legal/reputational drag and distraction
- Operating leverage execution risk — company currently unprofitable (GAAP -3.5% margin); achieving 15% EBITDA margin by 2027 requires discipline and scaling efficiency
- Market saturation in core Zio Monitor segment — growth deceleration if primary care adoption plateaus sooner than expected
Methodology · iRhythm Technologies Inc 2030 stock forecast model
iRhythm Technologies Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 15 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (8% cumulative for IRTC by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($1.34B by 2030) |
| 3. Time value | NPV calculated using 12% WACC (CAPM: beta 1.333) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 2.0x / bull 5.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 21, 2026.
IRTC price target FAQ
What is the IRTC price target for 2030?
WallStSmart's iRhythm Technologies Inc 2030 base case is $60.39 per share, with a bull case of $207.25 and bear case of $11.44. The NPV of the base case discounted to today at 12% WACC is $36.11.
How is the iRhythm Technologies Inc 2030 stock forecast calculated?
The IRTC 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the IRTC price target account for dilution?
iRhythm Technologies Inc is projected to grow diluted share count from 33M to 36M by 2030 (a 8% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 8%.
What is the analyst consensus on IRTC stock?
15 analysts cover IRTC with an average 12-month price target of $191.85. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.