iRhythm Technologies (NASDAQ:IRTC) CFO Daniel Wilson Sells 5,188 Shares

iRhythm Technologies (NASDAQ:IRTC) CFO Daniel Wilson sold 5,188 shares of iRhythm Technologies stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $135.42, for a total transaction of $702,558.96. Following the sale, the chief financial officer owned 30,694 shares in the company, valued at approximately $4,156,581.48. The trade was a 14.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

iRhythm Technologies Price Performance

IRTC traded up $4.28 during trading on Thursday, hitting $140.18. 390,033 shares of the company traded hands, 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 company has a market cap of $4.53 billion, a PE ratio of -100.13 and a beta of 1.06. The stock’s 50-day simple moving average is $162.29 and its two-hundred day simple moving average is $170.73. iRhythm Technologies has a 1 year low of $92.52 and a 1 year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last announced 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 analysts’ expectations of $202.61 million. iRhythm Technologies had a negative net margin of 5.96% and a negative return on equity of 28.15%. The business’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.04) EPS. As a group, sell-side analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Key iRhythm Technologies News

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.

Institutional Investors Weigh In On iRhythm Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in iRhythm Technologies in the 2nd quarter worth about $3,578,000. Federated Hermes Inc. grew its stake in iRhythm Technologies by 45.4% in the 3rd quarter. Federated Hermes Inc. now owns 70,401 shares of the company’s stock worth $12,108,000 after acquiring an additional 21,977 shares in the last quarter. Osaic Holdings Inc. grew its stake in iRhythm Technologies by 507.3% in the 2nd quarter. Osaic Holdings Inc. now owns 9,292 shares of the company’s stock worth $1,431,000 after acquiring an additional 7,762 shares in the last quarter. Jump Financial LLC purchased a new position in shares of iRhythm Technologies during the second quarter worth approximately $9,668,000. Finally, Walleye Capital LLC bought a new stake in shares of iRhythm Technologies during the second quarter valued at approximately $11,366,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on IRTC shares. Needham & Company LLC reiterated a “buy” rating and set a $244.00 target price on shares of iRhythm Technologies in a research report on Monday, January 12th. Robert W. Baird lowered their price objective on shares of iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Evercore raised shares of iRhythm Technologies from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $194.00 to $210.00 in a research note on Monday, January 5th. Morgan Stanley restated an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. Finally, BTIG Research increased their price target on shares of iRhythm Technologies from $195.00 to $215.00 and gave the company a “buy” rating in a report on Friday, October 31st. Two research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $211.62.

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.