iRhythm Technologies (NASDAQ:IRTC) CAO Sells $649,609.74 in Stock

iRhythm Technologies (NASDAQ:IRTC) CAO Marc Wade Rosenbaum sold 4,797 shares of iRhythm Technologies stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total value of $649,609.74. Following the completion of the sale, the chief accounting officer owned 15,014 shares in the company, valued at approximately $2,033,195.88. The trade was a 24.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, February 24th, Marc Wade Rosenbaum sold 280 shares of iRhythm Technologies stock. The shares were sold at an average price of $140.91, for a total value of $39,454.80.

iRhythm Technologies Stock Performance

NASDAQ IRTC opened at $133.75 on Friday. 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 stock’s 50 day simple moving average is $161.48 and its 200-day simple moving average is $170.60. The company has a market cap of $4.32 billion, a PE ratio of -95.54 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 posted its quarterly earnings data on Thursday, February 19th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.02 by $0.27. The firm 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 firm’s revenue was up 27.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) EPS. As a group, equities research analysts anticipate that iRhythm Technologies will post -1.98 EPS for the current fiscal year.

Institutional Investors Weigh In On iRhythm Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new position in shares of iRhythm Technologies in the 3rd quarter valued at $30,000. Measured Wealth Private Client Group LLC purchased a new stake in iRhythm Technologies in the 3rd quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in iRhythm Technologies by 48.4% in the 4th quarter. GAMMA Investing LLC now owns 184 shares of the company’s stock valued at $33,000 after buying an additional 60 shares during the period. Smartleaf Asset Management LLC lifted its position in 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 purchased a new position in iRhythm Technologies during the third quarter worth about $34,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IRTC shares. JPMorgan Chase & Co. dropped 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 note on Friday, February 20th. Wall Street Zen upgraded iRhythm Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $244.00 price target on shares of iRhythm Technologies in a report on Monday, January 12th. Canaccord Genuity Group lowered their price objective on iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iRhythm Technologies in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.62.

Key iRhythm Technologies News

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

• Positive Sentiment: Quarterly beat — iRhythm reported $0.29 EPS vs. $0.02 expected and revenue of $208.9M (+27% YoY), showing accelerating top-line growth that supports the growth story. MarketBeat: iRhythm earnings summary
• Positive Sentiment: Institutional ownership rising — several large funds have added or increased stakes recently, providing a demand cushion for the shares and signaling confidence from professional investors. MarketBeat: Institutional holdings
• Neutral Sentiment: Analyst actions mixed — some firms trimmed price targets but many maintain Buy/Overweight ratings; consensus remains a moderate buy with a multi-month average target above the current price. MarketBeat: Analyst coverage
• Negative Sentiment: Heavy executive selling — CEO Quentin Blackford sold 25,540 shares and multiple senior officers (CFO, CAO, several EVPs) sold sizeable blocks at ~ $135.42 on Feb. 25; coordinated senior sales often spur near-term selling pressure and investor concern. CEO Form 4 (SEC)
• Negative Sentiment: Rising short interest — short positions have increased, raising potential for additional downside volatility if momentum stays negative or forced covering if sentiment flips.

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.