Gold prices slip slightly after recent gains; U.S. data eyed
SAN FRANCISCO—Blackford Quentin S., President and CEO of iRhythm Technologies, Inc. (NASDAQ:IRTC), recently sold 8,145 shares of the company’s common stock. The transaction, which took place on March 3, 2025, was executed at a price of $108.77 per share, amounting to a total sale value of $885,931. The sale occurred as the stock has shown strong momentum, with InvestingPro data showing a remarkable 58% gain over the past six months. The company currently maintains a market capitalization of $3.37 billion.
Following this transaction, Mr. Blackford retains ownership of 208,741 shares in the company. According to a footnote in the filing, the shares were sold to cover tax withholding and remittance obligations related to the vesting of restricted stock units (RSUs). InvestingPro analysis indicates the stock currently trades near analyst targets ranging from $104 to $152, with a consensus recommendation leaning strongly toward buy. Subscribers to InvestingPro can access 8 additional key insights and a comprehensive Pro Research Report for deeper analysis of IRTC’s valuation and prospects.
In other recent news, iRhythm Technologies reported strong fourth-quarter results, with earnings per share (EPS) of $0.01, significantly outperforming analyst expectations of a $0.35 loss per share. The company achieved revenue of $164.3 million, surpassing the consensus estimate of $157.12 million and marking a 24% increase from the same quarter the previous year. For the fiscal year 2025, iRhythm anticipates revenue between $675-685 million, aligning closely with the consensus estimate of $679.4 million. Truist Securities and JPMorgan both raised their price targets for iRhythm to $145, maintaining Buy and Overweight ratings, respectively, following the company’s revenue and earnings outperformance. Needham also increased its price target to $138, reiterating a Buy rating, citing robust sales volumes in the U.S. and promising international expansion. The company continues to make progress with its regulatory efforts and plans to submit its MCT device to the FDA in the third quarter of 2025. iRhythm’s international growth strategy includes early-stage launches in Europe and plans to enter the Japanese market by mid-2025. Analysts from Citi and BTIG echoed positive sentiments, highlighting strong revenue growth and effective expense management.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.