Equities analysts expect that Irhythm Technologies Inc (NASDAQ:IRTC) will post ($0.56) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Irhythm Technologies’ earnings. The lowest EPS estimate is ($0.73) and the highest is ($0.37). Irhythm Technologies posted earnings per share of ($0.74) during the same quarter last year, which suggests a positive year over year growth rate of 24.3%. The business is expected to report its next quarterly earnings report on Tuesday, November 3rd.
On average, analysts expect that Irhythm Technologies will report full-year earnings of ($2.10) per share for the current financial year, with EPS estimates ranging from ($2.67) to ($1.76). For the next year, analysts forecast that the company will report earnings of ($0.69) per share, with EPS estimates ranging from ($1.50) to $0.88. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that that provide coverage for Irhythm Technologies.
Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.75) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.84) by $0.09. The business had revenue of $50.88 million during the quarter, compared to analyst estimates of $42.18 million. Irhythm Technologies had a negative net margin of 28.50% and a negative return on equity of 50.23%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.43) EPS.
Several research analysts recently issued reports on the stock. Canaccord Genuity increased their price target on shares of Irhythm Technologies from $210.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Robert W. Baird began coverage on shares of Irhythm Technologies in a research note on Tuesday, September 1st. They set a “neutral” rating and a $220.00 price objective for the company. Zacks Investment Research lowered shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, July 14th. Citigroup raised their price objective on shares of Irhythm Technologies from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Finally, Oppenheimer raised shares of Irhythm Technologies from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a report on Wednesday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $179.10.
In related news, CEO Kevin M. King sold 59,622 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $180.10, for a total value of $10,737,922.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP David A. Vort sold 11,264 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $110.66, for a total transaction of $1,246,474.24. Following the completion of the transaction, the executive vice president now directly owns 17,390 shares in the company, valued at approximately $1,924,377.40. The disclosure for this sale can be found here. In the last three months, insiders sold 158,054 shares of company stock worth $24,044,415. 3.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. raised its stake in Irhythm Technologies by 87.8% during the 1st quarter. Alliancebernstein L.P. now owns 1,689,610 shares of the company’s stock worth $137,450,000 after acquiring an additional 789,735 shares during the period. Neuberger Berman Group LLC raised its stake in Irhythm Technologies by 2,336.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 765,166 shares of the company’s stock worth $88,675,000 after acquiring an additional 733,766 shares during the period. Invesco Ltd. raised its stake in Irhythm Technologies by 141.5% during the 1st quarter. Invesco Ltd. now owns 862,234 shares of the company’s stock worth $70,142,000 after acquiring an additional 505,219 shares during the period. William Blair Investment Management LLC raised its stake in Irhythm Technologies by 16.1% during the 1st quarter. William Blair Investment Management LLC now owns 1,432,203 shares of the company’s stock worth $116,510,000 after acquiring an additional 198,149 shares during the period. Finally, FMR LLC raised its stake in Irhythm Technologies by 108.9% during the 2nd quarter. FMR LLC now owns 358,541 shares of the company’s stock worth $41,551,000 after acquiring an additional 186,888 shares during the period.
Shares of Irhythm Technologies stock traded down $3.99 during trading on Tuesday, hitting $212.43. The company’s stock had a trading volume of 512,900 shares, compared to its average volume of 452,443. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.99 and a current ratio of 3.10. The company has a fifty day simple moving average of $169.51 and a two-hundred day simple moving average of $119.31. The company has a market capitalization of $5.82 billion, a PE ratio of -85.66 and a beta of 1.80. Irhythm Technologies has a 52 week low of $56.24 and a 52 week high of $232.58.
About Irhythm Technologies
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. The company offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
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