iRhythm Technologies (NASDAQ:IRTC) Sees Large Increase in Short Interest

iRhythm Technologies (NASDAQ:IRTC) saw a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 3,401,218 shares, an increase of 20.1% from the January 29th total of 2,830,877 shares. Approximately 10.6% of the shares of the company are short sold. Based on an average daily volume of 665,249 shares, the short-interest ratio is presently 5.1 days. Based on an average daily volume of 665,249 shares, the short-interest ratio is presently 5.1 days. Approximately 10.6% of the shares of the company are short sold.

iRhythm Technologies Stock Down 2.0%

Shares of IRTC opened at $125.85 on Wednesday. The company’s 50-day simple moving average is $159.40 and its 200-day simple moving average is $170.14. The company has a debt-to-equity ratio of 4.25, a quick ratio of 4.48 and a current ratio of 4.63. iRhythm Technologies has a 1 year low of $92.52 and a 1 year high of $212.00. The stock has a market capitalization of $4.07 billion, a PE ratio of -89.89 and a beta of 1.09.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, February 19th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $208.89 million for the quarter, compared to the consensus estimate of $202.61 million. During the same period in the prior year, the firm earned ($0.04) EPS. The firm’s revenue for the quarter was up 27.1% on a year-over-year basis. Analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

IRTC has been the topic of several research analyst reports. Freedom Capital raised iRhythm Technologies to a “strong-buy” rating in a report on Thursday, January 15th. Needham & Company LLC reiterated a “buy” rating and set a $244.00 target price on shares of iRhythm Technologies in a research report on Monday, January 12th. Robert W. Baird dropped their target price on shares of iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Canaccord Genuity Group lowered their target price on iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of iRhythm Technologies from $240.00 to $215.00 and set an “overweight” 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $211.62.

Insider Buying and Selling at iRhythm Technologies

In other news, EVP Sumi Shrishrimal sold 6,217 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total transaction of $841,906.14. Following the sale, the executive vice president directly owned 39,182 shares in the company, valued at $5,306,026.44. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chad Patterson sold 8,967 shares of iRhythm Technologies stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $135.42, for a total value of $1,214,311.14. Following the completion of the transaction, the insider owned 51,738 shares of the company’s stock, valued at approximately $7,006,359.96. This represents a 14.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 94,509 shares of company stock worth $12,734,195 in the last three months. 0.68% of the stock is owned by company insiders.

Institutional Trading of iRhythm Technologies

A number of large investors have recently made changes to their positions in IRTC. Root Financial Partners LLC purchased a new position in iRhythm Technologies in the third quarter worth approximately $30,000. Measured Wealth Private Client Group LLC acquired a new stake in iRhythm Technologies in the third quarter valued at $30,000. GAMMA Investing LLC lifted its holdings in iRhythm Technologies by 48.4% during the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock worth $33,000 after buying an additional 60 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of iRhythm Technologies by 100.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after acquiring an additional 99 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of iRhythm Technologies in the 3rd quarter valued at about $34,000.

iRhythm Technologies News Roundup

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

• Positive Sentiment: Management raised FY‑2026 revenue guidance to $870.0M–$880.0M versus consensus of ~$817.3M, signaling stronger top‑line growth and execution on demand — though EPS guidance was not specified, leaving some earnings uncertainty for the year.
• Neutral Sentiment: Analyst coverage is being reworked: several firms trimmed price targets even as they maintain Buy/Overweight stances; commentary notes the story is “shifting” as targets reset while management holds guidance, which can drive mixed reactions as analysts reconcile growth with profitability timelines. Read More.
• Negative Sentiment: Clustered insider selling: multiple senior executives (CAO and several EVPs) sold shares on March 2 — collectively roughly 17,800 shares for ~ $2.3M at an average price ≈ $128.44. Each sale was a mid‑single‑digit percentage reduction in holdings; insiders still retain material stakes, but the concentrated timing of sales is likely weighing on sentiment. Read More.

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.