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iRhythm Technologies, Inc. (NASDAQ:IRTC), a $3.35 billion market cap healthcare technology company, saw its Chief Financial Officer Wilson Daniel G. execute a significant stock transaction, according to a Form 4 filing with the Securities and Exchange Commission. On February 26, Wilson sold 2,512 shares of iRhythm common stock at a price of $112.13 per share, totaling $281,670. The stock has shown strong momentum, gaining over 61% in the past six months.
Additionally, Wilson acquired shares through the vesting of Restricted Stock Units (RSUs). On February 25, he acquired 4,868 shares, and on February 26, he acquired 8,976 shares, both without any direct purchase cost as these were performance-based RSUs. Following these transactions, Wilson holds 47,648 shares of the company.
The sale of shares was conducted to cover tax withholding obligations related to the vesting of performance RSUs.
In other recent news, iRhythm Technologies reported strong fourth-quarter financial results, significantly exceeding analyst expectations. The company achieved earnings per share of $0.01, surpassing the anticipated loss of $0.35 per share, with revenue reaching $164.3 million, a notable increase from the previous year’s $132.5 million. This performance has led to a reaffirmed revenue guidance for 2025, projecting between $675 million and $685 million, reflecting continued growth. Analysts have responded positively, with Truist Securities, JPMorgan, and Needham all raising their price targets for iRhythm to $145, maintaining Buy or Overweight ratings.
The company’s gross margin improved by 410 basis points to 70.0%, supported by operational efficiencies and increased patient volume. iRhythm’s international expansion efforts are progressing, with plans to enter the Japanese market by mid-2025. The company is also preparing for an FDA submission for its Mobile Cardiac Telemetry device in the third quarter of 2025. Analysts from Citi and BTIG also expressed optimism, noting strong revenue growth and effective expense management, which contribute to a positive outlook for the company’s future performance.
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