ABHIJIT Y TALWALKAR, a director at Irhythm Technologies ($IRTC), bought 6,664 shares of the company on 11-04-2024. We received data on the trade from a recent SEC filing. This increased their holdings by approximately 54.3%. Following this trade, they now own 18,941 shares of Irhythm Technologies stock.

Irhythm Technologies Insider Trading Activity

Irhythm Technologies insiders have traded $IRTC stock on the open market 9 times in the past 6 months. Of those trades, 2 have been purchases and 7 have been sales.

Here's a breakdown of recent trading of $IRTC stock by insiders over the last 6 months:

• ABHIJIT Y TALWALKAR purchased 6,664 shares.
• QUENTIN S. BLACKFORD (President and CEO) sold 16,145 shares.
• BRICE BOBZIEN (Chief Financial Officer) sold 1,372 shares.
• CHAD PATTERSON (Chief Commercial Officer) has traded it 2 times. They made 1 purchase, buying 280 shares and 1 sale, selling 3,012 shares.
• MERVIN SMITH (EVP Strategic Business Ops) sold 688 shares.
• MINANG TURAKHIA (EVP, CMO & CSO) sold 1,404 shares.
• MARC W. ROSENBAUM (Chief Accounting Officer) sold 510 shares.
• SUMI SHRISHRIMAL (EVP, Chief Risk Officer) sold 1,131 shares.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Irhythm Technologies Hedge Fund Activity

We have seen 121 institutional investors add shares of Irhythm Technologies stock to their portfolio, and 127 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• ARTISAN PARTNERS LIMITED PARTNERSHIP added 540,343 shares (+25.2%) to their portfolio in Q2 2024
• FIRST LIGHT ASSET MANAGEMENT, LLC removed 420,892 shares (-100.0%) from their portfolio in Q2 2024
• MILLENNIUM MANAGEMENT LLC added 371,372 shares (+298.0%) to their portfolio in Q2 2024
• UBS ASSET MANAGEMENT AMERICAS LLC added 351,931 shares (+1032.1%) to their portfolio in Q2 2024
• LORD, ABBETT & CO. LLC removed 241,681 shares (-100.0%) from their portfolio in Q2 2024
• PERCEPTIVE ADVISORS LLC removed 210,000 shares (-85.6%) from their portfolio in Q2 2024
• CITIGROUP INC added 189,813 shares (+1179.3%) to their portfolio in Q2 2024

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Should I Buy $IRTC Stock?

The bull case for iRhythm Technologies Inc. ($IRTC) centers on its positive financial trajectory, with a slight year-over-year revenue increase of 0.4% to approximately $3.1 billion, propelled by a 3% rise in orders and a notable 14% growth in subscription revenue due to strong seasonal consumer spending. The company also saw impressive non-GAAP revenue growth of 11%, bolstered by a significant 19% increase in annualized recurring revenue, highlighting robust demand for its digital healthcare solutions. Additionally, a 150-basis point improvement in gross margin to 58.6% signifies operational efficiencies and a strategic shift towards higher-value offerings, suggesting potential for continued growth in a competitive market. In contrast, the bear case points to challenges the company faces, including a decline in overall revenue growth and full-year guidance that has fallen short of both management's previous expectations and consensus estimates. The reduction in EBITDA performance and anticipated declines in realized prices further indicate operational difficulties. These concerns are magnified by lower-than-projected adjusted EBITDA figures and revisions to earnings per share estimates for 2023 and 2024, implying a deteriorating financial outlook and raising caution among investors.

Background on $IRTC Stock

iRhythm Technologies, Inc. (ticker symbol: IRTC) is a medical technology company specializing in the development and commercialization of innovative solutions for cardiac rhythm monitoring. The company is best known for its Zio service platform, which includes a wearable device designed to continuously monitor patients' heart rhythms over extended periods, often up to 14 days. This non-invasive approach allows for the assessment of heart conditions such as arrhythmias and atrial fibrillation, providing healthcare providers with actionable data for diagnosis and treatment. iRhythm combines advanced technology, data analytics, and artificial intelligence to enhance cardiac care, aiming to improve patient outcomes and streamline clinical workflows. Their solutions are used widely in both hospital and outpatient settings.

This article is not financial advice. See Quiver Quantitative's disclaimers for more information.