iRhythm Technologies (NASDAQ:IRTC) Insider Chad Patterson Sells 8,967 Shares

iRhythm Technologies (NASDAQ:IRTC) insider Chad Patterson sold 8,967 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $135.42, for a total transaction of $1,214,311.14. Following the sale, the insider owned 51,738 shares in the company, valued at $7,006,359.96. This represents a 14.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Chad Patterson also recently made the following trade(s):

• On Tuesday, December 2nd, Chad Patterson sold 280 shares of iRhythm Technologies stock. The stock was sold at an average price of $184.83, for a total value of $51,752.40.

iRhythm Technologies Trading Up 3.1%

IRTC stock traded up $4.28 during midday trading on Thursday, reaching $140.18. 390,033 shares of the company traded hands, compared to its average volume of 725,398. iRhythm Technologies has a 52-week low of $92.52 and a 52-week high of $212.00. The company has a debt-to-equity ratio of 4.25, a quick ratio of 4.48 and a current ratio of 4.63. The business has a 50 day moving average of $162.29 and a 200-day moving average of $170.73. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of -100.13 and a beta of 1.06.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, February 19th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.27. iRhythm Technologies had a negative return on equity of 28.15% and a negative net margin of 5.96%.The firm had revenue of $208.89 million during the quarter, compared to analysts’ expectations of $202.61 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The company’s quarterly revenue was up 27.1% on a year-over-year basis. As a group, sell-side analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iRhythm Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of iRhythm Technologies by 48.4% during the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after buying an additional 60 shares during the period. Ascent Group LLC grew its holdings in iRhythm Technologies by 0.7% during the 4th quarter. Ascent Group LLC now owns 9,587 shares of the company’s stock worth $1,701,000 after acquiring an additional 70 shares in the last quarter. WoodTrust Financial Corp grew its holdings in iRhythm Technologies by 0.7% during the 4th quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock worth $1,787,000 after acquiring an additional 70 shares in the last quarter. US Bancorp DE increased its position in iRhythm Technologies by 7.8% during the 3rd quarter. US Bancorp DE now owns 1,042 shares of the company’s stock valued at $179,000 after purchasing an additional 75 shares during the period. Finally, State of Wyoming raised its holdings in shares of iRhythm Technologies by 16.0% in the 4th quarter. State of Wyoming now owns 616 shares of the company’s stock valued at $109,000 after purchasing an additional 85 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of iRhythm Technologies in a research note on Monday, January 12th. Loop Capital set a $220.00 price objective on shares of iRhythm Technologies in a research note on Friday, October 31st. Citigroup upped their target price on iRhythm Technologies from $205.00 to $242.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Canaccord Genuity Group decreased their price target on iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Robert W. Baird cut their price objective on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.62.

iRhythm Technologies News Roundup

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

• Positive Sentiment: Q4 results: iRhythm posted an EPS beat and revenue growth (quarterly revenue +27% y/y), which supports the bullish case on durable demand for its Zio monitoring service. Q4 Earnings / MarketBeat
• Positive Sentiment: Institutional support: several large funds (Vanguard, Tudor, RTW, UBS AM) hold or increased positions, providing steady buying interest beneath the stock. Institutional Holdings / MarketBeat
• Neutral Sentiment: Short-interest increase: short interest rose ~20% in February to ~3.4M shares (≈10.6% of float), raising volatility risk and creating potential short-squeeze dynamics but also indicating bearish positioning. (No single definitive directional signal.)
• Negative Sentiment: Large insider selling: multiple executives — including the CEO (25,540 shares) and several EVPs, the CFO and CAO — sold sizable blocks on Feb. 25. The concentrated sales (each a double-digit % reduction in those insiders’ holdings) are a clear near-term negative for sentiment. CEO Form 4
• Negative Sentiment: Analyst moves: several firms trimmed price targets (Wells Fargo, JPMorgan, Canaccord) even as others remain constructive; mixed analyst revisions add uncertainty to near-term guidance on valuation.

About iRhythm Technologies

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.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.