Insider Selling: iRhythm Technologies (NASDAQ:IRTC) EVP Sells 6,217 Shares of Stock

iRhythm Technologies (NASDAQ:IRTC) EVP Sumi Shrishrimal sold 6,217 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $135.42, for a total value of $841,906.14. Following the completion of the sale, the executive vice president directly owned 39,182 shares of the company’s stock, valued at approximately $5,306,026.44. This represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

iRhythm Technologies Trading Up 3.1%

NASDAQ IRTC traded up $4.28 on Thursday, reaching $140.18. 390,033 shares of the company were exchanged, compared to its average volume of 725,398. The company has a current ratio of 4.63, a quick ratio of 4.48 and a debt-to-equity ratio of 4.25. The business’s fifty day moving average price is $162.29 and its 200 day moving average price is $170.73. The stock has a market capitalization of $4.53 billion, a P/E ratio of -100.13 and a beta of 1.06. iRhythm Technologies has a fifty-two week low of $92.52 and a fifty-two week high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.02 by $0.27. The business had revenue of $208.89 million for 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 company’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. Analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IRTC shares. Citigroup raised their price target on shares of iRhythm Technologies from $205.00 to $242.00 and gave the stock a “buy” rating in a report on Friday, October 31st. BTIG Research increased their price objective on iRhythm Technologies from $195.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Loop Capital set a $220.00 target price on iRhythm Technologies in a research note on Friday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $244.00 target price on shares of iRhythm Technologies in a research report on Monday, January 12th. Finally, Robert W. Baird lowered their price target on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $211.62.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of iRhythm Technologies by 48.4% in the fourth quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after buying an additional 60 shares in the last quarter. Ascent Group LLC boosted its holdings in iRhythm Technologies by 0.7% during the 4th quarter. Ascent Group LLC now owns 9,587 shares of the company’s stock valued at $1,701,000 after acquiring an additional 70 shares during the period. WoodTrust Financial Corp grew its position in iRhythm Technologies by 0.7% in the 4th quarter. WoodTrust Financial Corp now owns 10,070 shares of the company’s stock valued at $1,787,000 after acquiring an additional 70 shares in the last quarter. US Bancorp DE increased its stake in iRhythm Technologies by 7.8% during the third quarter. US Bancorp DE now owns 1,042 shares of the company’s stock worth $179,000 after purchasing an additional 75 shares during the period. Finally, State of Wyoming lifted its position in shares of iRhythm Technologies by 16.0% during the fourth quarter. State of Wyoming now owns 616 shares of the company’s stock worth $109,000 after purchasing an additional 85 shares in the last quarter.

iRhythm Technologies News Summary

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.

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.