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SAN FRANCISCO—Wilson Daniel G., Chief Financial Officer of iRhythm Technologies, Inc. (NASDAQ:IRTC), recently sold shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Mr. Wilson sold 2,341 shares on March 3 at a price of $108.77 per share, amounting to a total transaction value of $254,630. The transaction comes as the company’s stock has shown strong momentum, with a notable 58% gain over the past six months.
The sale was conducted to cover tax withholding and remittance obligations related to the vesting of Restricted Stock Units. Following this transaction, Mr. Wilson retains ownership of 45,307 shares in the company. According to InvestingPro data, analysts maintain a bullish outlook on IRTC, with price targets ranging from $104 to $152.
iRhythm Technologies, a leader in digital health care solutions, continues its operations from its headquarters in San Francisco, California. The company, currently valued at $3.37 billion, maintains strong liquidity with a healthy current ratio of 5.82 and has achieved impressive revenue growth of 20% in the latest period. For deeper insights into IRTC’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, iRhythm Technologies reported strong fourth-quarter results, surpassing Wall Street’s expectations with a 24% revenue increase to $164.3 million, beating the consensus estimate of $157.12 million. Earnings per share were $0.01, a significant improvement from the anticipated $0.35 loss per share. The company has projected its 2025 revenue to be between $675 and $685 million, aligning with analyst estimates. In light of these results, several analysts have adjusted their price targets for iRhythm, with Truist Securities, JPMorgan, and Needham raising their targets to $145, $145, and $138, respectively, while maintaining positive ratings. These adjustments reflect confidence in iRhythm’s growth trajectory, particularly in the U.S. market, and its ongoing international expansion efforts. The company is also making strides in regulatory remediation and plans to submit its MCT device to the FDA by the third quarter of 2025. iRhythm’s gross margin improved by 410 basis points to 70.0% due to operational efficiencies and a higher volume of patients served. Analysts from Citi and BTIG also raised their price targets, citing strong revenue growth and broad-based strength across channels and products.
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