Analysts forecast that Irhythm Technologies Inc (NASDAQ:IRTC) will post earnings of ($0.39) per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Irhythm Technologies’ earnings, with the highest EPS estimate coming in at ($0.33) and the lowest estimate coming in at ($0.42). Irhythm Technologies posted earnings per share of ($0.48) during the same quarter last year, which indicates a positive year-over-year growth rate of 18.8%. The firm is expected to announce its next quarterly earnings report on Tuesday, February 11th.
According to Zacks, analysts expect that Irhythm Technologies will report full-year earnings of ($1.86) per share for the current year, with EPS estimates ranging from ($1.96) to ($1.60). For the next fiscal year, analysts anticipate that the business will report earnings of ($1.08) per share, with EPS estimates ranging from ($1.35) to ($0.93). Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Irhythm Technologies.
Irhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.34). The firm had revenue of $55.96 million for the quarter, compared to the consensus estimate of $53.76 million. Irhythm Technologies had a negative net margin of 26.45% and a negative return on equity of 97.79%. Irhythm Technologies’s revenue for the quarter was up 46.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.43) earnings per share.
Several brokerages have recently commented on IRTC. JPMorgan Chase & Co. increased their price objective on Irhythm Technologies from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. BidaskClub upgraded Irhythm Technologies from a “strong sell” rating to a “sell” rating in a research report on Friday, October 18th. Zacks Investment Research upgraded Irhythm Technologies from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Wednesday, October 2nd. Oppenheimer began coverage on Irhythm Technologies in a research report on Tuesday, October 22nd. They set a “market perform” rating on the stock. Finally, BTIG Research set a $90.00 price target on Irhythm Technologies and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $99.56.
In related news, CFO Matthew C. Garrett sold 27,569 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $76.83, for a total transaction of $2,118,126.27. Following the transaction, the chief financial officer now directly owns 29,101 shares in the company, valued at approximately $2,235,829.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.85% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRTC. Brown Capital Management LLC lifted its holdings in Irhythm Technologies by 92.3% in the 2nd quarter. Brown Capital Management LLC now owns 2,217,845 shares of the company’s stock worth $175,387,000 after buying an additional 1,064,782 shares during the period. Point72 Asset Management L.P. lifted its holdings in Irhythm Technologies by 224.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 705,966 shares of the company’s stock worth $55,828,000 after buying an additional 488,247 shares during the period. Invesco Ltd. lifted its holdings in Irhythm Technologies by 695.4% in the 2nd quarter. Invesco Ltd. now owns 354,609 shares of the company’s stock worth $28,042,000 after buying an additional 310,026 shares during the period. Fiera Capital Corp purchased a new stake in Irhythm Technologies in the 2nd quarter worth approximately $23,766,000. Finally, Nuveen Asset Management LLC lifted its holdings in Irhythm Technologies by 2,087.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 282,830 shares of the company’s stock worth $22,366,000 after buying an additional 269,902 shares during the period.
Shares of Irhythm Technologies stock traded up $0.46 during trading on Friday, hitting $69.02. 130,100 shares of the stock traded hands, compared to its average volume of 378,987. The company has a quick ratio of 2.59, a current ratio of 2.66 and a debt-to-equity ratio of 2.53. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -36.52 and a beta of 1.72. The firm’s fifty day moving average is $70.15 and its 200-day moving average is $74.19. Irhythm Technologies has a 52 week low of $58.99 and a 52 week high of $98.13.
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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