iRhythm Technologies (NASDAQ:IRTC) EVP Sumi Shrishrimal Sells 6,217 Shares

iRhythm Technologies (NASDAQ:IRTC) EVP Sumi Shrishrimal sold 6,217 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 $841,906.14. Following the transaction, the executive vice president directly owned 39,182 shares of the company’s stock, valued at approximately $5,306,026.44. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

iRhythm Technologies Stock Up 3.1%

Shares of NASDAQ:IRTC opened at $140.18 on Friday. The company has a 50 day moving average of $162.29 and a 200-day moving average of $170.73. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48. iRhythm Technologies has a one year low of $92.52 and a one year high of $212.00. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of -100.13 and a beta of 1.06.

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 the consensus estimate of $0.02 by $0.27. The company had revenue of $208.89 million for 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 business’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same period last year, the business posted ($0.04) earnings per share. On average, sell-side analysts forecast that iRhythm Technologies will post -1.98 earnings per share for the current year.

Hedge Funds Weigh In On iRhythm Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new stake in iRhythm Technologies during the 3rd quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC acquired a new position in shares of iRhythm Technologies in the 3rd quarter worth approximately $30,000. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 60 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of iRhythm Technologies by 100.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 198 shares of the company’s stock valued at $34,000 after purchasing an additional 99 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of iRhythm Technologies during the third quarter worth $34,000.

Analyst Ratings Changes

A number of equities analysts recently commented on IRTC shares. BTIG Research raised their price target on shares of iRhythm Technologies from $195.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. lowered their price objective on iRhythm Technologies from $240.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Freedom Capital raised iRhythm Technologies to a “strong-buy” rating in a report on Thursday, January 15th. Wells Fargo & Company dropped their price target on iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Finally, The Goldman Sachs Group upped their price objective on shares of iRhythm Technologies from $180.00 to $202.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.62.

iRhythm Technologies News Summary

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), signaling accelerating sales growth that likely underpins today’s upside. MarketBeat: iRhythm earnings summary
• Positive Sentiment: Institutional support — large investors (Vanguard, Tudor, RTW, Geode, UBS AM) built or increased stakes in recent quarters, supplying a backstop of long-term demand. MarketBeat: Institutional holdings
• Neutral Sentiment: Analyst moves are mixed — several firms trimmed targets (Wells Fargo, JPMorgan, Canaccord) but maintained buy/overweight calls, while Citi lifted its target earlier; consensus remains a “Moderate Buy” with a ~ $212 average target. MarketBeat: Analyst coverage
• Negative Sentiment: Heavy insider selling — CEO Quentin Blackford sold 25,540 shares and multiple senior executives (CFO, CAO, several EVPs and other insiders) sold additional blocks on Feb 25 at ~ $135.42, materially reducing their positions; such coordinated executive sales can be viewed negatively by markets. CEO Form 4 (SEC)
• Negative Sentiment: Rising short interest — short interest climbed ~20% to ~3.4M shares (≈10.6% of float) with a ~5.1-day cover ratio, increasing downside risk if negative news follows or giving volatility if shorts cover.

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.