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

iRhythm Technologies (NASDAQ:IRTC) CAO Marc Wade Rosenbaum sold 4,797 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 $649,609.74. Following the transaction, the chief accounting officer owned 15,014 shares in the company, valued at $2,033,195.88. The trade was a 24.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Stock Up 3.1%

iRhythm Technologies stock opened at $140.18 on Friday. The stock’s 50 day moving average price is $162.29 and its 200 day moving average price is $170.73. iRhythm Technologies has a 1-year low of $92.52 and a 1-year high of $212.00. The company has a market cap of $4.53 billion, a PE ratio of -100.13 and a beta of 1.06. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, February 19th. The company reported $0.29 EPS 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 the consensus estimate of $202.61 million. iRhythm Technologies had a negative return on equity of 28.15% and a negative net margin of 5.96%.iRhythm Technologies’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) earnings per share. On average, sell-side analysts predict that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IRTC has been the subject of a number of research analyst reports. Wall Street Zen raised shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. JPMorgan Chase & Co. lowered their price target on iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Canaccord Genuity Group reduced their price objective on iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating for the company in a report on Friday, February 20th. Loop Capital set a $220.00 target price on iRhythm Technologies in a report on Friday, October 31st. Finally, Robert W. Baird dropped their price target on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating for the company 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 given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.62.

iRhythm Technologies News Summary

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), signaling accelerating sales growth that likely underpins today’s upside. MarketBeat: iRhythm earnings summary
• Positive Sentiment: Institutional support — large investors (Vanguard, Tudor, RTW, Geode, UBS AM) built or increased stakes in recent quarters, supplying a backstop of long-term demand. MarketBeat: Institutional holdings
• Neutral Sentiment: Analyst moves are mixed — several firms trimmed targets (Wells Fargo, JPMorgan, Canaccord) but maintained buy/overweight calls, while Citi lifted its target earlier; consensus remains a “Moderate Buy” with a ~ $212 average target. MarketBeat: Analyst coverage
• Negative Sentiment: Heavy insider selling — CEO Quentin Blackford sold 25,540 shares and multiple senior executives (CFO, CAO, several EVPs and other insiders) sold additional blocks on Feb 25 at ~ $135.42, materially reducing their positions; such coordinated executive sales can be viewed negatively by markets. CEO Form 4 (SEC)
• Negative Sentiment: Rising short interest — short interest climbed ~20% to ~3.4M shares (≈10.6% of float) with a ~5.1-day cover ratio, increasing downside risk if negative news follows or giving volatility if shorts cover.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IRTC. Root Financial Partners LLC acquired a new stake in shares of iRhythm Technologies during the 3rd quarter worth about $30,000. Measured Wealth Private Client Group LLC acquired a new position in shares of iRhythm Technologies in the third quarter valued at approximately $30,000. GAMMA Investing LLC lifted its stake in shares of iRhythm Technologies by 48.4% during 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 during the period. Smartleaf Asset Management LLC boosted its position in iRhythm Technologies by 100.0% during the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock worth $34,000 after acquiring an additional 99 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in iRhythm Technologies during the third quarter worth approximately $34,000.

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.