Q4 2023 EPS Estimates for iRhythm Technologies, Inc. (NASDAQ:IRTC) Reduced by Analyst

iRhythm Technologies, Inc. (NASDAQ:IRTC) – Equities researchers at William Blair cut their Q4 2023 EPS estimates for iRhythm Technologies in a research note issued to investors on Thursday, November 16th. William Blair analyst M. Kaczor now anticipates that the company will post earnings of ($0.65) per share for the quarter, down from their prior forecast of ($0.52). The consensus estimate for iRhythm Technologies’ current full-year earnings is ($3.25) per share. William Blair also issued estimates for iRhythm Technologies’ Q1 2024 earnings at ($0.79) EPS, Q2 2024 earnings at ($0.70) EPS, Q3 2024 earnings at ($0.52) EPS, Q4 2024 earnings at ($0.50) EPS and FY2024 earnings at ($2.50) EPS.

Other equities research analysts also recently issued research reports about the stock. Citigroup reduced their target price on shares of iRhythm Technologies from $115.00 to $100.00 in a research note on Monday, October 2nd. Canaccord Genuity Group reduced their target price on shares of iRhythm Technologies from $136.00 to $116.00 and set a “buy” rating on the stock in a research note on Monday, August 28th. Truist Financial reduced their target price on shares of iRhythm Technologies from $155.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Morgan Stanley reduced their price target on shares of iRhythm Technologies from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 11th. Finally, Needham & Company LLC dropped their price objective on iRhythm Technologies from $140.00 to $108.00 and set a “buy” rating for the company in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.33.

iRhythm Technologies Stock Up 0.6 %

IRTC opened at $81.46 on Monday. iRhythm Technologies has a fifty-two week low of $70.24 and a fifty-two week high of $140.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.16. The firm’s fifty day moving average price is $84.33 and its two-hundred day moving average price is $100.05. The company has a market capitalization of $2.50 billion, a P/E ratio of -23.54 and a beta of 1.32.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IRTC. US Bancorp DE grew its holdings in shares of iRhythm Technologies by 3.7% during the first quarter. US Bancorp DE now owns 4,012 shares of the company’s stock worth $632,000 after purchasing an additional 144 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in iRhythm Technologies by 49.2% in the first quarter. MetLife Investment Management LLC now owns 15,778 shares of the company’s stock valued at $2,485,000 after acquiring an additional 5,205 shares during the last quarter. BlackRock Inc. boosted its holdings in iRhythm Technologies by 0.4% in the first quarter. BlackRock Inc. now owns 2,093,147 shares of the company’s stock valued at $329,607,000 after acquiring an additional 8,440 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in iRhythm Technologies by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 68,492 shares of the company’s stock valued at $10,783,000 after acquiring an additional 2,603 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in iRhythm Technologies in the first quarter valued at approximately $248,000.

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. 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.