Quentin Blackford Sells 25,540 Shares of iRhythm Technologies (NASDAQ:IRTC) Stock

iRhythm Technologies (NASDAQ:IRTC) CEO Quentin Blackford sold 25,540 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total transaction of $3,458,626.80. Following the transaction, the chief executive officer directly owned 186,126 shares in the company, valued at approximately $25,205,182.92. The trade was a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

iRhythm Technologies Stock Up 3.1%

iRhythm Technologies stock traded up $4.28 during midday trading on Thursday, hitting $140.18. 390,027 shares of the stock were exchanged, compared to its average volume of 725,398. iRhythm Technologies has a 1 year low of $92.52 and a 1 year high of $212.00. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48. The firm has a market cap of $4.53 billion, a P/E ratio of -100.13 and a beta of 1.06. The company has a 50 day moving average price of $162.85 and a two-hundred day moving average price of $170.94.

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

Analysts Set New Price Targets

IRTC has been the subject of several research analyst reports. BTIG Research increased their target price on iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Wells Fargo & Company cut their price target on shares of iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Truist Financial reiterated a “buy” rating and set a $200.00 price objective (down from $215.00) on shares of iRhythm Technologies in a research note on Friday, February 20th. Weiss Ratings restated a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Thursday, January 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.62.

iRhythm Technologies News Roundup

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

• Positive Sentiment: Q4 results beat expectations — revenue grew ~27% year-over-year and EPS beat consensus (reported $0.29 vs. $0.02 est.), which supports the rally and longer-term growth thesis. MarketBeat IRTC summary
• Positive Sentiment: Large institutional positions and recent additions by firms such as Vanguard, RTW and UBS signal continued investor confidence and provide a stable shareholder base. Institutional holdings details
• Neutral Sentiment: Analyst coverage remains mostly positive overall (consensus “Moderate Buy”), but several firms trimmed targets after results while others left or raised targets — a mixed signal that keeps valuation expectations varied. Analyst note roundup
• Negative Sentiment: CEO Quentin Blackford sold 25,540 shares (~$3.46M at ~$135.42), reducing his stake by ~12% — a large, disclosed insider sale that investors often view negatively when concentrated. SEC filing: CEO Form 4
• Negative Sentiment: Other insiders also sold shares this week (EVP Mervin Smith, CAO Marc Rosenbaum, insider Patrick Murphy and Director Abhijit Talwalkar), further reducing internal ownership and adding selling pressure. Relevant filings: Murphy SEC filing Murphy Form 4; Rosenbaum/Smith filings available via MarketBeat links above.
• Negative Sentiment: Short interest jumped ~20% in February to about 3.4M shares (≈10.6% of float), raising the stock’s short-interest ratio to ~5 days — this increases volatility risk and the potential for downside on negative news. Short interest data

Hedge Funds Weigh In On iRhythm Technologies

Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in shares of iRhythm Technologies by 423.0% in the 1st quarter. Royal Bank of Canada now owns 7,573 shares of the company’s stock worth $793,000 after purchasing an additional 6,125 shares during the last quarter. Goldman Sachs Group Inc. increased its position in iRhythm Technologies by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 433,780 shares of the company’s stock worth $45,408,000 after buying an additional 108,941 shares during the period. Strs Ohio bought a new stake in iRhythm Technologies in the first quarter valued at $147,000. Ethic Inc. acquired a new position in shares of iRhythm Technologies during the second quarter valued at $242,000. Finally, AlphaQuest LLC boosted its holdings in shares of iRhythm Technologies by 344.2% during the second quarter. AlphaQuest LLC now owns 1,257 shares of the company’s stock valued at $194,000 after acquiring an additional 974 shares during the period.

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.