iRhythm Technologies (NASDAQ:IRTC) EVP Sells $1,056,817.68 in Stock

iRhythm Technologies (NASDAQ:IRTC) EVP Minang Turakhia sold 7,804 shares of iRhythm Technologies stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total value of $1,056,817.68. Following the completion of the transaction, the executive vice president directly owned 48,899 shares in the company, valued at approximately $6,621,902.58. This represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

iRhythm Technologies Stock Performance

Shares of IRTC traded up $4.28 during mid-day trading on Thursday, hitting $140.18. The company’s stock had a trading volume of 390,033 shares, compared to its average volume of 725,398. The stock’s 50-day moving average is $162.29 and its two-hundred day moving average is $170.73. The firm has a market capitalization of $4.53 billion, a PE ratio of -100.13 and a beta of 1.06. 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 one year low of $92.52 and a one year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last released its earnings results on Thursday, February 19th. The company reported $0.29 EPS for the quarter, beating 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 firm had revenue of $208.89 million during the quarter, compared to analysts’ expectations of $202.61 million. During the same period in the prior year, the company earned ($0.04) EPS. The business’s quarterly revenue was up 27.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current year.

More 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.

Analyst Ratings Changes

A number of research firms recently weighed in on IRTC. Evercore raised iRhythm Technologies from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $194.00 to $210.00 in a research report on Monday, January 5th. Morgan Stanley reiterated an “overweight” rating on shares of iRhythm Technologies in a research report on Monday, January 12th. Needham & Company LLC restated a “buy” rating and set a $244.00 price objective on shares of iRhythm Technologies in a research report on Monday, January 12th. JPMorgan Chase & Co. cut their target price 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. Finally, The Goldman Sachs Group raised their target price on iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Two 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, iRhythm Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $211.62.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IRTC. Tudor Investment Corp ET AL acquired a new position in shares of iRhythm Technologies during the third quarter worth approximately $3,439,800,000. Vanguard Group Inc. increased its stake in shares of iRhythm Technologies by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 3,310,519 shares of the company’s stock valued at $587,418,000 after buying an additional 70,420 shares during the period. RTW Investments LP bought a new stake in shares of iRhythm Technologies during the fourth quarter worth $209,732,000. Geode Capital Management LLC lifted its stake in shares of iRhythm Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 858,405 shares of the company’s stock valued at $152,337,000 after acquiring an additional 68,301 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 valued at $147,251,000 after acquiring an additional 259,800 shares during the last quarter.

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.