Marc Wade Rosenbaum Sells 4,797 Shares of iRhythm Technologies (NASDAQ:IRTC) Stock

iRhythm Technologies (NASDAQ:IRTC) CAO Marc Wade Rosenbaum sold 4,797 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total value of $649,609.74. Following the transaction, the chief accounting officer owned 15,014 shares of the company’s stock, valued at approximately $2,033,195.88. The trade was a 24.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Marc Wade Rosenbaum also recently made the following trade(s):

• On Tuesday, February 24th, Marc Wade Rosenbaum sold 280 shares of iRhythm Technologies stock. The shares were sold at an average price of $140.91, for a total value of $39,454.80.

iRhythm Technologies Trading Down 4.6%

NASDAQ:IRTC opened at $133.75 on Friday. The company has a market cap of $4.32 billion, a P/E ratio of -95.54 and a beta of 1.06. iRhythm Technologies has a twelve month low of $92.52 and a twelve month high of $212.00. The business has a 50 day moving average price of $161.48 and a two-hundred day moving average price of $170.54. The company has a quick ratio of 4.48, a current ratio of 4.63 and a debt-to-equity ratio of 4.25.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $202.61 million. During the same period last year, the company earned ($0.04) earnings per share. The firm’s revenue was up 27.1% compared to the same quarter last year. As a group, analysts expect that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IRTC. Citigroup raised their price objective on iRhythm Technologies from $205.00 to $242.00 and gave the company a “buy” rating in a report on Friday, October 31st. The Goldman Sachs Group upped their target price on iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Freedom Capital upgraded iRhythm Technologies to a “strong-buy” rating in a research note on Thursday, January 15th. Evercore raised iRhythm Technologies from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $194.00 to $210.00 in a research report on Monday, January 5th. Finally, Robert W. Baird dropped their price objective on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.62.

Hedge Funds Weigh In On iRhythm Technologies

A number of institutional investors have recently bought and sold shares of IRTC. Quantbot Technologies LP acquired a new stake in shares of iRhythm Technologies in the second quarter valued at approximately $3,578,000. Federated Hermes Inc. raised its stake in iRhythm Technologies by 45.4% in the 3rd quarter. Federated Hermes Inc. now owns 70,401 shares of the company’s stock valued at $12,108,000 after acquiring an additional 21,977 shares during the period. Osaic Holdings Inc. lifted its holdings in iRhythm Technologies by 507.3% during the 2nd quarter. Osaic Holdings Inc. now owns 9,292 shares of the company’s stock valued at $1,431,000 after purchasing an additional 7,762 shares during the last quarter. Jump Financial LLC bought a new position in iRhythm Technologies during the second quarter worth $9,668,000. Finally, Walleye Capital LLC acquired a new position in shares of iRhythm Technologies in the second quarter valued at $11,366,000.

More iRhythm Technologies News

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

• Positive Sentiment: Quarterly beat — iRhythm reported $0.29 EPS vs. $0.02 expected and revenue of $208.9M (+27% YoY), showing accelerating top-line growth that supports the growth story. MarketBeat: iRhythm earnings summary
• Positive Sentiment: Institutional ownership rising — several large funds have added or increased stakes recently, providing a demand cushion for the shares and signaling confidence from professional investors. MarketBeat: Institutional holdings
• Neutral Sentiment: Analyst actions mixed — some firms trimmed price targets but many maintain Buy/Overweight ratings; consensus remains a moderate buy with a multi-month average target above the current price. MarketBeat: Analyst coverage
• Negative Sentiment: Heavy executive selling — CEO Quentin Blackford sold 25,540 shares and multiple senior officers (CFO, CAO, several EVPs) sold sizeable blocks at ~ $135.42 on Feb. 25; coordinated senior sales often spur near-term selling pressure and investor concern. CEO Form 4 (SEC)
• Negative Sentiment: Rising short interest — short positions have increased, raising potential for additional downside volatility if momentum stays negative or forced covering if sentiment flips.

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.