Equities research analysts forecast that Irhythm Technologies Inc (NASDAQ:IRTC) will report $28.75 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Irhythm Technologies’ earnings, with the lowest sales estimate coming in at $28.56 million and the highest estimate coming in at $28.94 million. Irhythm Technologies posted sales of $21.44 million in the same quarter last year, which would indicate a positive year over year growth rate of 34.1%. The company is expected to announce its next quarterly earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Irhythm Technologies will report full-year sales of $28.75 million for the current fiscal year, with estimates ranging from $128.96 million to $132.37 million. For the next fiscal year, analysts anticipate that the business will post sales of $177.37 million per share, with estimates ranging from $169.42 million to $189.44 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Irhythm Technologies.
Irhythm Technologies (NASDAQ:IRTC) last posted its earnings results on Wednesday, February 14th. The company reported ($0.48) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.13). Irhythm Technologies had a negative return on equity of 34.44% and a negative net margin of 29.87%. The company had revenue of $28.20 million during the quarter, compared to analysts’ expectations of $26.79 million. During the same period in the prior year, the business posted ($0.37) earnings per share. The company’s revenue for the quarter was up 50.8% on a year-over-year basis.
Several research firms have recently commented on IRTC. BidaskClub cut shares of Irhythm Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. BMO Capital Markets initiated coverage on shares of Irhythm Technologies in a research note on Monday, March 5th. They issued an “outperform” rating and a $76.00 price target for the company. ValuEngine upgraded shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Northland Securities reiterated a “hold” rating and issued a $60.00 price target on shares of Irhythm Technologies in a research note on Wednesday, March 14th. Finally, Dougherty & Co initiated coverage on shares of Irhythm Technologies in a research note on Friday, December 1st. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $69.29.
Shares of Irhythm Technologies (NASDAQ IRTC) opened at $63.63 on Friday. Irhythm Technologies has a 12-month low of $32.10 and a 12-month high of $68.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.72 and a quick ratio of 5.64. The company has a market cap of $1,480.03, a PE ratio of -48.95 and a beta of 0.98.
In related news, CFO Matthew C. Garrett sold 42,910 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $59.17, for a total value of $2,538,984.70. Following the completion of the transaction, the chief financial officer now directly owns 36,085 shares in the company, valued at approximately $2,135,149.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David A. Vort sold 935 shares of the stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $67.01, for a total transaction of $62,654.35. Following the completion of the transaction, the executive vice president now owns 22,221 shares of the company’s stock, valued at $1,489,029.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 395,362 shares of company stock valued at $25,152,594. 23.30% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Advisor Group Inc. increased its stake in Irhythm Technologies by 763.9% during the 3rd quarter. Advisor Group Inc. now owns 2,920 shares of the company’s stock valued at $151,000 after purchasing an additional 2,582 shares in the last quarter. Shaker Investments LLC OH bought a new stake in Irhythm Technologies during the 4th quarter valued at about $263,000. Two Sigma Advisers LP bought a new stake in Irhythm Technologies during the 4th quarter valued at about $331,000. Aperio Group LLC bought a new stake in Irhythm Technologies during the 4th quarter valued at about $529,000. Finally, Macquarie Group Ltd. bought a new stake in Irhythm Technologies during the 4th quarter valued at about $608,000. Institutional investors own 98.59% of the company’s stock.
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Irhythm Technologies Company Profile
iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.
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