Insider Selling: iRhythm Technologies (NASDAQ:IRTC) Director Sells $773,958.40 in Stock

iRhythm Technologies (NASDAQ:IRTC) Director Abhijit Talwalkar sold 5,312 shares of iRhythm Technologies stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $145.70, for a total value of $773,958.40. Following the completion of the transaction, the director owned 20,299 shares of the company’s stock, valued at approximately $2,957,564.30. The trade was a 20.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

iRhythm Technologies Trading Up 3.1%

Shares of NASDAQ IRTC opened at $140.18 on Friday. iRhythm Technologies has a 1-year low of $92.52 and a 1-year high of $212.00. The company has a 50-day moving average of $162.29 and a two-hundred day moving average of $170.73. 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 current ratio of 4.63, a quick ratio of 4.48 and a debt-to-equity ratio of 4.25.

iRhythm Technologies (NASDAQ:IRTC) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.29 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $202.61 million. During the same quarter last year, the business earned ($0.04) earnings per share. The firm’s quarterly revenue was up 27.1% compared to the same quarter last year. As a group, equities analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IRTC shares. JPMorgan Chase & Co. lowered their target price on shares of iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Loop Capital set a $220.00 price objective on iRhythm Technologies in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Thursday, January 22nd. Citigroup boosted their target price on iRhythm Technologies from $205.00 to $242.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Robert W. Baird cut their price target 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 investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.62.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC acquired a new stake in shares of iRhythm Technologies during the third quarter worth $30,000. Root Financial Partners LLC acquired a new stake in shares of iRhythm Technologies in the 3rd quarter valued at about $30,000. GAMMA Investing LLC raised its stake in shares of iRhythm Technologies by 48.4% in the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after purchasing an additional 60 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of 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 buying an additional 99 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of iRhythm Technologies during the third quarter worth about $34,000.

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.