Insider Selling: iRhythm Technologies (NASDAQ:IRTC) CFO Sells 5,188 Shares of Stock

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

iRhythm Technologies Stock Up 3.1%

Shares of IRTC traded up $4.28 during midday trading on Thursday, reaching $140.18. 390,033 shares of the stock were exchanged, compared to its average volume of 725,398. The company has a market capitalization of $4.53 billion, a P/E 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 has a 52 week low of $92.52 and a 52 week high of $212.00. The company’s 50 day moving average is $162.29 and its two-hundred day moving average is $170.73.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.27. The company had revenue of $208.89 million during the quarter, compared to analyst estimates of $202.61 million. iRhythm Technologies had a negative net margin of 5.96% and a negative return on equity of 28.15%. The firm’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) earnings per share. On average, sell-side analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current year.

Institutional Investors Weigh In On iRhythm Technologies

Several institutional investors have recently added to or reduced their stakes in IRTC. Tudor Investment Corp ET AL acquired a new position in shares of iRhythm Technologies during the third quarter valued at about $3,439,800,000. Vanguard Group Inc. grew its position in iRhythm Technologies by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 3,310,519 shares of the company’s stock worth $587,418,000 after purchasing an additional 70,420 shares during the last quarter. RTW Investments LP acquired a new position in iRhythm Technologies during the 4th quarter valued at approximately $209,732,000. Geode Capital Management LLC raised its holdings in shares of iRhythm Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 858,405 shares of the company’s stock worth $152,337,000 after buying an additional 68,301 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of iRhythm Technologies by 45.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 829,862 shares of the company’s stock worth $147,251,000 after buying an additional 259,800 shares during the last quarter.

iRhythm Technologies News Roundup

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.

Analyst Upgrades and Downgrades

IRTC has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $244.00 target price on shares of iRhythm Technologies in a report on Monday, January 12th. Freedom Capital upgraded iRhythm Technologies to a “strong-buy” rating in a research note on Thursday, January 15th. Citigroup lifted their target price on iRhythm Technologies from $205.00 to $242.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Truist Financial reiterated a “buy” rating and issued a $200.00 target price (down from $215.00) on shares of iRhythm Technologies in a report on Friday, February 20th. Finally, Wall Street Zen upgraded shares of iRhythm Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.62.

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.