iRhythm Technologies (NASDAQ:IRTC) EVP Sells $841,906.14 in Stock

iRhythm Technologies (NASDAQ:IRTC) EVP Sumi Shrishrimal sold 6,217 shares of the firm’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 $841,906.14. Following the transaction, the executive vice president directly owned 39,182 shares of the company’s stock, valued at approximately $5,306,026.44. This trade represents a 13.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

iRhythm Technologies Stock Performance

NASDAQ:IRTC traded up $4.28 during mid-day trading on Thursday, hitting $140.18. The company’s stock had a trading volume of 390,033 shares, compared to its average volume of 725,398. The business’s fifty day moving average is $162.29 and its two-hundred day moving average is $170.73. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of -100.13 and a beta of 1.06. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48. iRhythm Technologies has a 1 year low of $92.52 and a 1 year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business 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 firm posted ($0.04) EPS. The company’s revenue for the quarter was up 27.1% on a year-over-year basis. Analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IRTC has been the subject of several recent research reports. BTIG Research lifted their target price on shares of iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a report on Friday, October 31st. Freedom Capital raised shares of iRhythm Technologies to a “strong-buy” rating in a report on Thursday, January 15th. Canaccord Genuity Group lowered their target price on shares of iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Needham & Company LLC restated a “buy” rating and set a $244.00 target price on shares of iRhythm Technologies in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. reduced their price target on iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating for the company in a 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.62.

Key iRhythm Technologies News

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.

Institutional Trading of iRhythm Technologies

A number of institutional investors and hedge funds have recently modified their holdings of IRTC. MidFirst Bank acquired a new stake in iRhythm Technologies during the 4th quarter worth $235,000. Corient Private Wealth LLC lifted its stake in shares of iRhythm Technologies by 12.1% in the fourth quarter. Corient Private Wealth LLC now owns 1,764 shares of the company’s stock worth $313,000 after buying an additional 191 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in iRhythm Technologies by 7.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 639,423 shares of the company’s stock worth $113,459,000 after acquiring an additional 44,175 shares during the last quarter. XTX Topco Ltd purchased a new stake in iRhythm Technologies during the 4th quarter valued at about $855,000. Finally, RTW Investments LP purchased a new stake in iRhythm Technologies during the 4th quarter valued at about $209,732,000.

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.