Insider Selling: iRhythm Technologies (NASDAQ:IRTC) CEO Sells 25,540 Shares of Stock

iRhythm Technologies (NASDAQ:IRTC) CEO Quentin Blackford sold 25,540 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were 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 of the company’s stock, valued at $25,205,182.92. The trade was a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

iRhythm Technologies Stock Performance

NASDAQ IRTC traded up $4.28 on Thursday, hitting $140.18. The stock had a trading volume of 390,027 shares, compared to its average volume of 725,398. The company’s 50-day moving average is $162.85 and its two-hundred day moving average is $170.94. iRhythm Technologies has a one year low of $92.52 and a one year high of $212.00. 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 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 issued its quarterly earnings data on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $202.61 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. The business’s revenue was up 27.1% on a year-over-year basis. On average, analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current year.

Trending Headlines about iRhythm Technologies

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group raised their price target on iRhythm Technologies from $180.00 to $202.00 and gave the company a “neutral” rating in a report on Friday, October 31st. JPMorgan Chase & Co. decreased their target price on shares of iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Truist Financial reissued a “buy” rating and set a $200.00 target price (down from $215.00) on shares of iRhythm Technologies in a research note on Friday, February 20th. BTIG Research boosted their price target on shares of iRhythm Technologies from $195.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of iRhythm Technologies in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.62.

Institutional Investors Weigh In On iRhythm Technologies

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

iRhythm Technologies Company Profile

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.