Equities research analysts expect that Irhythm Technologies Inc (NASDAQ:IRTC) will post earnings per share (EPS) of ($0.42) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Irhythm Technologies’ earnings, with estimates ranging from ($0.46) to ($0.34). Irhythm Technologies reported earnings of ($0.29) per share in the same quarter last year, which would suggest a negative year over year growth rate of 44.8%. The business is scheduled to announce its next earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that Irhythm Technologies will report full year earnings of ($1.57) per share for the current year, with EPS estimates ranging from ($1.67) to ($1.44). For the next financial year, analysts expect that the firm will report earnings of ($1.11) per share, with EPS estimates ranging from ($1.38) to ($0.51). Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Irhythm Technologies.
Irhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings data on Wednesday, May 2nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.11). The business had revenue of $30.60 million during the quarter, compared to the consensus estimate of $29.07 million. Irhythm Technologies had a negative net margin of 32.73% and a negative return on equity of 43.37%. The firm’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.24) EPS.
IRTC has been the subject of a number of research reports. Canaccord Genuity reiterated a “buy” rating and issued a $80.00 price objective (up previously from $68.00) on shares of Irhythm Technologies in a report on Monday, March 12th. Northland Securities reiterated a “hold” rating and issued a $60.00 price objective on shares of Irhythm Technologies in a report on Wednesday, March 14th. BidaskClub lowered shares of Irhythm Technologies from a “buy” rating to a “hold” rating in a report on Friday, March 16th. Zacks Investment Research upgraded shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, April 25th. Finally, ValuEngine upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $74.00.
Shares of NASDAQ IRTC opened at $85.02 on Monday. Irhythm Technologies has a 1 year low of $40.12 and a 1 year high of $86.39. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.59 and a quick ratio of 6.48.
In related news, Director Raymond W. Scott sold 6,877 shares of Irhythm Technologies stock in a transaction on Monday, June 11th. The shares were sold at an average price of $80.41, for a total value of $552,979.57. Following the completion of the sale, the director now owns 8,905 shares of the company’s stock, valued at approximately $716,051.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kevin M. King sold 80,000 shares of Irhythm Technologies stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $65.91, for a total transaction of $5,272,800.00. Following the completion of the sale, the insider now directly owns 218,146 shares of the company’s stock, valued at approximately $14,378,002.86. The disclosure for this sale can be found here. Insiders sold a total of 96,877 shares of company stock valued at $6,525,780 in the last quarter. 23.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of IRTC. SG Americas Securities LLC purchased a new position in Irhythm Technologies during the 1st quarter worth $112,000. Alambic Investment Management L.P. purchased a new position in Irhythm Technologies during the 1st quarter worth $208,000. Bluestein R H & Co. purchased a new position in Irhythm Technologies during the 1st quarter worth $283,000. Two Sigma Advisers LP purchased a new position in Irhythm Technologies during the 4th quarter worth $331,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Irhythm Technologies during the 1st quarter worth $509,000.
Irhythm Technologies Company Profile
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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