iRhythm Technologies (NASDAQ:IRTC) Short Interest Up 20.1% in February

iRhythm Technologies (NASDAQ:IRTC) was the recipient of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 3,401,218 shares, a growth of 20.1% from the January 29th total of 2,830,877 shares. Based on an average daily volume of 665,249 shares, the short-interest ratio is currently 5.1 days. Approximately 10.6% of the shares of the company are sold short. Approximately 10.6% of the shares of the company are sold short. Based on an average daily volume of 665,249 shares, the short-interest ratio is currently 5.1 days.

Analyst Ratings Changes

IRTC has been the topic of several analyst reports. 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. Wall Street Zen raised iRhythm Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Truist Financial reiterated a “buy” rating and set a $200.00 price objective (down from $215.00) on shares of iRhythm Technologies in a research note on Friday, February 20th. Canaccord Genuity Group reduced their target price on shares of iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating for the company in a report on Friday, February 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iRhythm Technologies in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $211.62.

iRhythm Technologies Price Performance

Shares of NASDAQ:IRTC opened at $125.85 on Wednesday. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of -89.89 and a beta of 1.09. The firm has a fifty day moving average price of $159.40 and a 200 day moving average price of $170.14. The company has a debt-to-equity ratio of 4.25, a quick ratio of 4.48 and a current ratio of 4.63. iRhythm Technologies has a fifty-two week low of $92.52 and a fifty-two week high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last posted its earnings results 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 firm had revenue of $208.89 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) EPS. As a group, sell-side analysts expect that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Chad Patterson sold 8,967 shares of the business’s 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 $1,214,311.14. Following the completion of the sale, the insider directly owned 51,738 shares in the company, valued at approximately $7,006,359.96. The trade was a 14.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick Michael Murphy sold 7,805 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total transaction of $1,056,953.10. Following the completion of the transaction, the insider owned 60,536 shares in the company, valued at $8,197,785.12. The trade was a 11.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 94,509 shares of company stock valued at $12,734,195 in the last 90 days. 0.68% of the stock is owned by insiders.

Hedge Funds Weigh In On iRhythm Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tudor Investment Corp ET AL acquired a new stake in shares of iRhythm Technologies in the 3rd quarter worth $3,439,800,000. RTW Investments LP purchased a new stake in iRhythm Technologies in the fourth quarter valued at about $209,732,000. Millennium Management LLC boosted its holdings in iRhythm Technologies by 197.4% in 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 stake in shares of iRhythm Technologies by 6,415.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 541,039 shares of the company’s stock worth $93,053,000 after acquiring an additional 532,735 shares during the last quarter. Finally, Polar Capital Holdings Plc increased its holdings in shares of iRhythm Technologies by 24,782.1% during the third quarter. Polar Capital Holdings Plc now owns 335,908 shares of the company’s stock valued at $57,773,000 after acquiring an additional 334,558 shares in the last quarter.

Key iRhythm Technologies News

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

• Positive Sentiment: Management raised FY‑2026 revenue guidance to $870.0M–$880.0M versus consensus of ~$817.3M, signaling stronger top‑line growth and execution on demand — though EPS guidance was not specified, leaving some earnings uncertainty for the year.
• Neutral Sentiment: Analyst coverage is being reworked: several firms trimmed price targets even as they maintain Buy/Overweight stances; commentary notes the story is “shifting” as targets reset while management holds guidance, which can drive mixed reactions as analysts reconcile growth with profitability timelines. Read More.
• Negative Sentiment: Clustered insider selling: multiple senior executives (CAO and several EVPs) sold shares on March 2 — collectively roughly 17,800 shares for ~ $2.3M at an average price ≈ $128.44. Each sale was a mid‑single‑digit percentage reduction in holdings; insiders still retain material stakes, but the concentrated timing of sales is likely weighing on sentiment. Read More.

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.