Zacks: Analysts Anticipate iRhythm Technologies, Inc. (NASDAQ:IRTC) Will Announce Earnings of -$1.06 Per Share

Analysts predict that iRhythm Technologies, Inc. (NASDAQ:IRTCGet Rating) will announce earnings per share (EPS) of ($1.06) for the current quarter, Zacks reports. Five analysts have made estimates for iRhythm Technologies’ earnings. The lowest EPS estimate is ($1.11) and the highest is ($0.98). iRhythm Technologies reported earnings of ($0.95) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.6%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that iRhythm Technologies will report full-year earnings of ($3.43) per share for the current fiscal year, with EPS estimates ranging from ($3.56) to ($3.25). For the next year, analysts forecast that the company will post earnings of ($2.01) per share, with EPS estimates ranging from ($2.61) to ($1.32). Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow iRhythm Technologies.

iRhythm Technologies (NASDAQ:IRTCGet Rating) last issued its earnings results on Wednesday, February 23rd. The company reported ($1.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.22) by $0.12. The business had revenue of $81.80 million during the quarter, compared to analysts’ expectations of $78.27 million. iRhythm Technologies had a negative return on equity of 34.03% and a negative net margin of 31.40%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.33) EPS.

Several analysts recently commented on IRTC shares. Needham & Company LLC upgraded iRhythm Technologies from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Thursday, February 24th. Canaccord Genuity Group increased their price objective on iRhythm Technologies from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, January 14th. Robert W. Baird increased their price target on shares of iRhythm Technologies from $110.00 to $137.00 in a research note on Wednesday, January 12th. Morgan Stanley reduced their price objective on iRhythm Technologies from $167.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, February 24th. Finally, Oppenheimer upgraded shares of iRhythm Technologies from a “market perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research report on Tuesday, January 11th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $155.07.

Shares of IRTC opened at $123.37 on Friday. The company has a quick ratio of 3.36, a current ratio of 3.48 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average is $137.37 and its two-hundred day moving average is $118.30. iRhythm Technologies has a fifty-two week low of $41.66 and a fifty-two week high of $169.54.

In other news, CFO Douglas Devine sold 576 shares of the firm’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $132.67, for a total value of $76,417.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Vort sold 2,845 shares of iRhythm Technologies stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $120.99, for a total transaction of $344,216.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,983 shares of company stock valued at $2,798,517. 1.64% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in IRTC. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of iRhythm Technologies by 30.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,001 shares of the company’s stock worth $471,000 after acquiring an additional 943 shares during the last quarter. Cim Investment Management Inc. acquired a new position in shares of iRhythm Technologies during the 3rd quarter worth approximately $388,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of iRhythm Technologies in the fourth quarter valued at approximately $4,884,000. CWM LLC bought a new stake in shares of iRhythm Technologies in the fourth quarter valued at approximately $13,862,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in iRhythm Technologies during the fourth quarter worth approximately $3,297,000. Institutional investors own 97.92% of the company’s stock.

iRhythm Technologies Company Profile (Get Rating)

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It 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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Earnings History and Estimates for iRhythm Technologies (NASDAQ:IRTC)

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