Zacks: Analysts Expect iRhythm Technologies, Inc. (NASDAQ:IRTC) Will Announce Earnings of -$0.95 Per Share

Equities research analysts expect that iRhythm Technologies, Inc. (NASDAQ:IRTCGet Rating) will post earnings per share of ($0.95) for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for iRhythm Technologies’ earnings, with the lowest EPS estimate coming in at ($1.00) and the highest estimate coming in at ($0.89). iRhythm Technologies reported earnings of ($0.59) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 61%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that iRhythm Technologies will report full year earnings of ($3.28) per share for the current financial year, with EPS estimates ranging from ($3.43) to ($3.11). For the next year, analysts anticipate that the firm will report earnings of ($1.99) per share, with EPS estimates ranging from ($2.62) to ($1.70). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow iRhythm Technologies.

iRhythm Technologies (NASDAQ:IRTCGet Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.26. iRhythm Technologies had a negative return on equity of 34.55% and a negative net margin of 36.43%. The company had revenue of $92.40 million during the quarter, compared to the consensus estimate of $86.76 million. During the same quarter in the previous year, the company posted ($0.95) earnings per share. The firm’s quarterly revenue was up 24.4% on a year-over-year basis.

Several research analysts have weighed in on the company. Morgan Stanley reduced their target price on iRhythm Technologies from $167.00 to $151.00 and set an “overweight” rating on the stock in a report on Thursday, February 24th. Needham & Company LLC upgraded iRhythm Technologies from a “hold” rating to a “buy” rating and set a $135.00 price objective on the stock in a report on Thursday, February 24th. StockNews.com initiated coverage on iRhythm Technologies in a research note on Thursday, March 31st. They set a “sell” rating for the company. Wolfe Research started coverage on shares of iRhythm Technologies in a research note on Tuesday, April 5th. They issued an “underperform” rating and a $105.00 price target on the stock. Finally, Citigroup increased their price objective on shares of iRhythm Technologies from $175.00 to $180.00 in a research report on Friday, May 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, iRhythm Technologies presently has an average rating of “Buy” and a consensus price target of $155.50.

In other iRhythm Technologies 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 filing with the SEC, which is available at this link. Also, insider David A. Vort sold 3,161 shares of the stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $132.67, for a total value of $419,369.87. The disclosure for this sale can be found here. Insiders sold 11,883 shares of company stock valued at $1,576,518 over the last three months. 1.64% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in IRTC. Capital Research Global Investors raised its holdings in shares of iRhythm Technologies by 60.9% during the first quarter. Capital Research Global Investors now owns 1,411,300 shares of the company’s stock valued at $222,237,000 after purchasing an additional 534,300 shares during the period. Western Standard LLC raised its holdings in iRhythm Technologies by 118.5% during the first quarter. Western Standard LLC now owns 47,200 shares of the company’s stock worth $5,823,000 after buying an additional 25,600 shares during the last quarter. Polar Asset Management Partners Inc. boosted its stake in iRhythm Technologies by 21.2% during the 1st quarter. Polar Asset Management Partners Inc. now owns 155,600 shares of the company’s stock valued at $24,502,000 after purchasing an additional 27,200 shares during the last quarter. Polar Capital Holdings Plc bought a new position in shares of iRhythm Technologies in the first quarter valued at approximately $1,526,000. Finally, Rock Springs Capital Management LP boosted its holdings in iRhythm Technologies by 0.7% during the 1st quarter. Rock Springs Capital Management LP now owns 436,000 shares of the company’s stock worth $68,657,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

IRTC opened at $133.01 on Friday. iRhythm Technologies has a twelve month low of $41.66 and a twelve month high of $169.54. The firm has a market cap of $3.96 billion, a PE ratio of -31.59 and a beta of 1.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.43 and a current ratio of 4.63. The firm’s fifty day moving average is $137.83 and its two-hundred day moving average is $123.28.

About iRhythm Technologies (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.

See Also

Get a free copy of the Zacks research report on iRhythm Technologies (IRTC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for iRhythm Technologies (NASDAQ:IRTC)

Receive News & Ratings for iRhythm Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iRhythm Technologies and related companies with MarketBeat.com's FREE daily email newsletter.