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SAN FRANCISCO—Shrishrimal Sumi, the Executive Vice President and Chief Risk Officer at iRhythm Technologies, Inc. (NASDAQ:IRTC), a $3.37 billion medical technology company showing strong revenue growth of 20% over the last twelve months, has recently sold shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Sumi sold 1,726 shares on March 3, 2025, at a price of $108.77 per share, totaling approximately $187,737.
The transaction was conducted to cover tax withholding and remittance obligations related to the vesting of Restricted Stock Units. Following this sale, Sumi retains ownership of 36,117 shares in the medical technology company.
In other recent news, iRhythm Technologies reported strong fourth-quarter results, with earnings per share (EPS) of $0.01, significantly exceeding the analyst estimate 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 previous year. For fiscal year 2025, iRhythm has provided revenue guidance between $675-685 million, aligning closely with analyst expectations. Truist Securities and JPMorgan both raised their price targets for iRhythm to $145, maintaining Buy and Overweight ratings, respectively, citing the company’s robust revenue performance and positive outlook. Needham also increased its price target to $138, maintaining a Buy rating, following iRhythm’s alignment with its preannounced fourth-quarter performance and revenue outlook for 2025.
The company’s gross margin improved by 410 basis points to 70.0%, driven by operational efficiencies and increased patient volume. International growth is also a focus, with early-stage launches in Europe and plans to enter the Japanese market in mid-2025. Analysts from Citi and BTIG echoed positive sentiments, highlighting strong revenue growth and effective expense management. iRhythm’s CEO emphasized the company’s growth in customer channels and the value of its Zio product in primary care settings.
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