-$0.45 Earnings Per Share Expected for Irhythm Technologies Inc (IRTC) This Quarter

Wall Street analysts expect Irhythm Technologies Inc (NASDAQ:IRTC) to report earnings per share (EPS) of ($0.45) for the current quarter, Zacks reports. Two analysts have issued estimates for Irhythm Technologies’ earnings. The lowest EPS estimate is ($0.51) and the highest is ($0.40). Irhythm Technologies posted earnings per share of ($0.48) during the same quarter last year, which indicates a positive year-over-year growth rate of 6.2%. The business is scheduled to issue its next earnings results on Wednesday, February 13th.

According to Zacks, analysts expect that Irhythm Technologies will report full-year earnings of ($1.86) per share for the current fiscal year, with EPS estimates ranging from ($1.92) to ($1.81). For the next financial year, analysts forecast that the company will post earnings of ($1.60) per share, with EPS estimates ranging from ($1.85) to ($1.34). Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Irhythm Technologies.

Irhythm Technologies (NASDAQ:IRTC) last announced its quarterly earnings data on Tuesday, October 30th. The company reported ($0.43) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.02. The firm had revenue of $38.10 million during the quarter, compared to analysts’ expectations of $35.87 million. Irhythm Technologies had a negative return on equity of 62.85% and a negative net margin of 33.79%. The company’s quarterly revenue was up 52.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.29) EPS.

Several brokerages have weighed in on IRTC. BidaskClub raised Irhythm Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 5th. Canaccord Genuity lifted their price objective on Irhythm Technologies from $93.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, September 13th. Chardan Capital began coverage on Irhythm Technologies in a report on Thursday, September 6th. They issued a “buy” rating and a $117.00 price objective for the company. Dougherty & Co raised Irhythm Technologies from a “sell” rating to a “neutral” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research cut Irhythm Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 3rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $93.13.

In other news, EVP Derrick Sung sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $88.01, for a total transaction of $880,100.00. Following the completion of the transaction, the executive vice president now owns 29,458 shares of the company’s stock, valued at approximately $2,592,598.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 23.30% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Irhythm Technologies by 5.0% during the 3rd quarter. BlackRock Inc. now owns 2,216,983 shares of the company’s stock worth $209,858,000 after buying an additional 105,780 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Irhythm Technologies by 18.6% during the 2nd quarter. Wells Fargo & Company MN now owns 826,252 shares of the company’s stock worth $67,033,000 after buying an additional 129,506 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Irhythm Technologies by 17.1% during the 2nd quarter. Millennium Management LLC now owns 726,837 shares of the company’s stock worth $58,968,000 after buying an additional 106,337 shares in the last quarter. Partner Fund Management L.P. acquired a new position in shares of Irhythm Technologies during the 2nd quarter worth $39,789,000. Finally, OppenheimerFunds Inc. increased its holdings in Irhythm Technologies by 15.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 344,730 shares of the company’s stock worth $27,968,000 after purchasing an additional 45,450 shares in the last quarter.

Shares of NASDAQ IRTC opened at $77.80 on Wednesday. The company has a current ratio of 4.79, a quick ratio of 4.69 and a debt-to-equity ratio of 0.51. Irhythm Technologies has a fifty-two week low of $47.47 and a fifty-two week high of $98.37.

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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