Mervin Smith Sells 1,352 Shares of iRhythm Technologies (NASDAQ:IRTC) Stock

iRhythm Technologies (NASDAQ:IRTC) EVP Mervin Smith sold 1,352 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $128.44, for a total value of $173,650.88. Following the completion of the transaction, the executive vice president directly owned 25,612 shares of the company’s stock, valued at approximately $3,289,605.28. The trade was a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Mervin Smith also recently made the following trade(s):

• On Wednesday, February 25th, Mervin Smith sold 4,041 shares of iRhythm Technologies stock. The stock was sold at an average price of $135.42, for a total value of $547,232.22.
• On Tuesday, February 24th, Mervin Smith sold 732 shares of iRhythm Technologies stock. The shares were sold at an average price of $140.91, for a total value of $103,146.12.

iRhythm Technologies Stock Down 2.0%

NASDAQ IRTC traded down $2.61 during trading hours on Tuesday, reaching $125.85. 593,038 shares of the company’s stock were exchanged, compared to its average volume of 724,545. The company has a debt-to-equity ratio of 4.25, a quick ratio of 4.48 and a current ratio of 4.63. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -89.89 and a beta of 1.09. The company’s 50-day moving average is $159.40 and its two-hundred day moving average is $170.14. iRhythm Technologies has a one year low of $92.52 and a one year high of $212.00.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IRTC shares. Morgan Stanley reaffirmed an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. Wells Fargo & Company cut their target price on iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Evercore upgraded iRhythm Technologies from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $194.00 to $210.00 in a research note on Monday, January 5th. Robert W. Baird dropped 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 note on Friday, February 20th. Finally, JPMorgan Chase & Co. lowered their price objective on iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.62.

Institutional Trading of iRhythm Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL bought a new stake in shares of iRhythm Technologies in the 3rd quarter worth $3,439,800,000. RTW Investments LP purchased a new position in shares of iRhythm Technologies in the fourth quarter worth about $209,732,000. Millennium Management LLC lifted its position in shares of iRhythm Technologies by 197.4% during the fourth quarter. Millennium Management LLC now owns 826,376 shares of the company’s stock worth $146,632,000 after acquiring an additional 548,519 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in iRhythm Technologies by 6,415.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 541,039 shares of the company’s stock valued at $93,053,000 after buying an additional 532,735 shares in the last quarter. Finally, Polar Capital Holdings Plc increased its holdings in iRhythm Technologies by 24,782.1% during the 3rd quarter. Polar Capital Holdings Plc now owns 335,908 shares of the company’s stock worth $57,773,000 after acquiring an additional 334,558 shares during the period.

iRhythm Technologies News Summary

Here are the key news stories impacting iRhythm Technologies this week:

• Positive Sentiment: Company guidance: iRhythm updated FY‑2026 revenue guidance to $870.0M–$880.0M, noticeably above the consensus (~$817.3M). Higher top‑line guidance is a positive signal for growth and revenue cadence even though EPS guidance was not specified in the release.
• Neutral Sentiment: Analyst/market note: Coverage is shifting as targets are being reset while management’s guidance holds — a thematic piece that explains why price targets and sentiment may be changing even with stronger revenue guidance. How The iRhythm Holdings (IRTC) Story Is Shifting As Targets Reset And Guidance Holds
• Negative Sentiment: Insider selling: Multiple senior execs sold shares on March 2 — including the CAO, several EVPs and other insiders — totaling ~17,826 shares for roughly $2.29M in proceeds (average price ≈ $128.44). Each reported a mid-single-digit percentage reduction in their holdings; insiders still retain substantial stakes but the clustered selling can be perceived negatively by the market. Representative SEC filing: Insider Form 4

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.