iRhythm Technologies (NASDAQ:IRTC - Get Free Report) EVP Mervin Smith sold 4,041 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 transaction of $547,232.22. Following the completion of the sale, the executive vice president directly owned 20,275 shares of the company's stock, valued at approximately $2,745,640.50. This trade represents a 16.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Mervin Smith also recently made the following trade(s):
- On Tuesday, February 24th, Mervin Smith sold 732 shares of iRhythm Technologies stock. The stock was sold at an average price of $140.91, for a total transaction of $103,146.12.
iRhythm Technologies Stock Performance
Shares of IRTC opened at $140.18 on Friday. iRhythm Technologies has a one year low of $92.52 and a one year high of $212.00. The company has a market cap of $4.53 billion, a PE ratio of -100.13 and a beta of 1.06. The stock 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 (NASDAQ:IRTC - Get Free Report) last announced its quarterly earnings results 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 return on equity of 28.15% and a negative net margin of 5.96%.The business had revenue of $208.89 million for the quarter, compared to analyst estimates of $202.61 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The company's quarterly revenue was up 27.1% on a year-over-year basis. On average, equities research analysts predict that iRhythm Technologies will post -1.98 EPS for the current fiscal year.
Institutional Trading of iRhythm Technologies
A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in iRhythm Technologies by 423.0% in the first quarter. Royal Bank of Canada now owns 7,573 shares of the company's stock worth $793,000 after purchasing an additional 6,125 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of iRhythm Technologies by 33.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 433,780 shares of the company's stock worth $45,408,000 after purchasing an additional 108,941 shares during the period. Strs Ohio purchased a new position in shares of iRhythm Technologies in the 1st quarter worth about $147,000. Ethic Inc. purchased a new position in shares of iRhythm Technologies in the 2nd quarter worth about $242,000. Finally, AlphaQuest LLC grew its position in iRhythm Technologies by 344.2% during the second quarter. AlphaQuest LLC now owns 1,257 shares of the company's stock valued at $194,000 after buying an additional 974 shares during the period.
More 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), 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.
Analyst Ratings Changes
A number of analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of iRhythm Technologies from $225.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, February 20th. Evercore raised shares of iRhythm Technologies from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $194.00 to $210.00 in a research report on Monday, January 5th. Citigroup upped their target price on shares of iRhythm Technologies from $205.00 to $242.00 and gave the stock a "buy" rating in a report on Friday, October 31st. Freedom Capital upgraded iRhythm Technologies to a "strong-buy" rating in a research note on Thursday, January 15th. Finally, Wall Street Zen raised iRhythm Technologies from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Two investment 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.62.
Read Our Latest Report on IRTC
About iRhythm Technologies
(
Get Free Report)
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.
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