Equities research analysts predict that Irhythm Technologies Inc (NASDAQ:IRTC) will report earnings per share of ($0.41) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Irhythm Technologies’ earnings. Irhythm Technologies posted earnings per share of ($0.24) during the same quarter last year, which would suggest a negative year over year growth rate of 70.8%. The business is scheduled to announce its next quarterly earnings report on Wednesday, May 2nd.
On average, analysts expect that Irhythm Technologies will report full year earnings of ($1.53) per share for the current financial year, with EPS estimates ranging from ($1.62) to ($1.47). For the next year, analysts forecast that the business will post earnings of ($0.95) per share, with EPS estimates ranging from ($1.40) to ($0.49). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Irhythm Technologies.
Irhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.13). Irhythm Technologies had a negative net margin of 29.87% and a negative return on equity of 33.67%. The company had revenue of $28.20 million during the quarter, compared to analyst estimates of $26.79 million. During the same quarter in the prior year, the company earned ($0.37) EPS. The business’s revenue was up 50.8% on a year-over-year basis.
Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Irhythm Technologies from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday. ValuEngine upgraded shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. BidaskClub upgraded shares of Irhythm Technologies from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Canaccord Genuity upped their price objective on shares of Irhythm Technologies from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Finally, Royal Bank of Canada started coverage on shares of Irhythm Technologies in a research note on Monday, December 4th. They issued an “outperform” rating and a $79.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $65.60.
In other news, CFO Matthew C. Garrett sold 1,193 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $55.00, for a total transaction of $65,615.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew C. Garrett sold 42,910 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $59.17, for a total transaction of $2,538,984.70. Following the sale, the chief financial officer now owns 36,085 shares of the company’s stock, valued at approximately $2,135,149.45. The disclosure for this sale can be found here. Insiders have sold 251,533 shares of company stock valued at $13,500,006 in the last quarter. Insiders own 23.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in IRTC. Schwab Charles Investment Management Inc. boosted its stake in shares of Irhythm Technologies by 39.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 40,271 shares of the company’s stock worth $1,712,000 after buying an additional 11,290 shares during the period. Swiss National Bank acquired a new stake in shares of Irhythm Technologies during the second quarter worth about $629,000. Nationwide Fund Advisors boosted its stake in shares of Irhythm Technologies by 92.8% during the second quarter. Nationwide Fund Advisors now owns 7,843 shares of the company’s stock worth $333,000 after buying an additional 3,774 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Irhythm Technologies by 393.2% during the second quarter. New York State Common Retirement Fund now owns 14,800 shares of the company’s stock worth $629,000 after buying an additional 11,799 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Irhythm Technologies during the second quarter worth about $289,000. Institutional investors and hedge funds own 97.76% of the company’s stock.
Irhythm Technologies (IRTC) opened at $62.61 on Thursday. The company has a quick ratio of 7.57, a current ratio of 7.65 and a debt-to-equity ratio of 0.38. Irhythm Technologies has a 12 month low of $32.10 and a 12 month high of $66.20.
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About Irhythm Technologies
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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