Marc Wade Rosenbaum Sells 280 Shares of iRhythm Technologies (NASDAQ:IRTC) Stock

iRhythm Technologies (NASDAQ:IRTC) CAO Marc Wade Rosenbaum sold 280 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $140.91, for a total value of $39,454.80. Following the sale, the chief accounting officer directly owned 10,601 shares in the company, valued at $1,493,786.91. This represents a 2.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Marc Wade Rosenbaum also recently made the following trade(s):

• On Wednesday, February 25th, Marc Wade Rosenbaum sold 4,797 shares of iRhythm Technologies stock. The stock was sold at an average price of $135.42, for a total value of $649,609.74.

iRhythm Technologies Price Performance

IRTC stock opened at $140.18 on Friday. The business’s 50-day moving average is $162.29 and its two-hundred day moving average is $170.73. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48. The firm 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 1 year low of $92.52 and a 1 year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.27. The business 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%.The business’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) earnings per share. Analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IRTC. Root Financial Partners LLC purchased a new stake in iRhythm Technologies in the 3rd quarter valued at $30,000. Measured Wealth Private Client Group LLC purchased a new position in iRhythm Technologies during the 3rd quarter worth $30,000. GAMMA Investing LLC increased its stake in 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 purchasing an additional 60 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of iRhythm Technologies by 100.0% in the third quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after buying an additional 99 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of iRhythm Technologies during the third quarter worth about $34,000.

Analyst Ratings Changes

IRTC has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective 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. Freedom Capital upgraded iRhythm Technologies to a “strong-buy” rating in a research note on Thursday, January 15th. BTIG Research lifted their price target on iRhythm Technologies from $195.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Morgan Stanley reaffirmed an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of iRhythm Technologies in a research report on Thursday, January 22nd. Two investment 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’s stock. According to MarketBeat.com, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $211.62.

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.

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.