iRhythm Technologies (NASDAQ:IRTC) EVP Sells $547,232.22 in Stock

iRhythm Technologies (NASDAQ:IRTC) EVP Mervin Smith sold 4,041 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total value of $547,232.22. Following the completion of the transaction, the executive vice president directly owned 20,275 shares in the company, valued at $2,745,640.50. The trade was a 16.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mervin Smith also recently made the following trade(s):

• On Tuesday, February 24th, Mervin Smith sold 732 shares of iRhythm Technologies stock. The shares were sold at an average price of $140.91, for a total value of $103,146.12.

iRhythm Technologies Price Performance

IRTC traded up $4.28 during 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 company has a quick ratio of 4.48, a current ratio of 4.63 and a debt-to-equity ratio of 4.25. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -100.13 and a beta of 1.06. The firm’s 50 day moving average price is $162.29 and its two-hundred day moving average price is $170.73. iRhythm Technologies has a 12 month low of $92.52 and a 12 month high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results 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. The company had revenue of $208.89 million during the quarter, compared to analyst estimates of $202.61 million. iRhythm Technologies had a negative return on equity of 28.15% and a negative net margin of 5.96%.The firm’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same period last year, the company posted ($0.04) earnings per share. Sell-side analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IRTC. Wells Fargo & Company reduced their price objective on iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating on the stock in a report 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. Morgan Stanley reaffirmed an “overweight” rating on shares of iRhythm Technologies in a research note on Monday, January 12th. BTIG Research boosted their price objective on iRhythm Technologies from $195.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Robert W. Baird cut 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. Two research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.62.

Institutional Investors Weigh In On iRhythm Technologies

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

Key Stories Impacting iRhythm Technologies

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.