Zacks: Brokerages Anticipate iRhythm Technologies, Inc. (NASDAQ:IRTC) to Post -$1.09 EPS

Equities research analysts expect that iRhythm Technologies, Inc. (NASDAQ:IRTC) will announce earnings of ($1.09) per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for iRhythm Technologies’ earnings, with the lowest EPS estimate coming in at ($1.19) and the highest estimate coming in at ($1.02). iRhythm Technologies posted earnings per share of ($0.17) during the same quarter last year, which indicates a negative year over year growth rate of 541.2%. The firm is expected to issue its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that iRhythm Technologies will report full year earnings of ($3.66) per share for the current fiscal year, with EPS estimates ranging from ($3.81) to ($3.53). For the next fiscal year, analysts expect that the business will post earnings of ($3.50) per share, with EPS estimates ranging from ($4.55) to ($2.30). Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for iRhythm Technologies.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, August 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.38. The business had revenue of $81.28 million for the quarter, compared to analysts’ expectations of $72.95 million. iRhythm Technologies had a negative return on equity of 18.41% and a negative net margin of 19.41%.

A number of brokerages have issued reports on IRTC. Citigroup increased their price target on iRhythm Technologies from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 1st. Canaccord Genuity raised their price objective on iRhythm Technologies from $210.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, August 26th. Zacks Investment Research downgraded shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, October 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of iRhythm Technologies from $55.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, iRhythm Technologies has an average rating of “Hold” and an average target price of $147.83.

Large investors have recently made changes to their positions in the business. Mackenzie Financial Corp purchased a new position in shares of iRhythm Technologies in the 2nd quarter valued at $120,316,000. Credit Suisse AG lifted its stake in shares of iRhythm Technologies by 62.0% in the first quarter. Credit Suisse AG now owns 952,958 shares of the company’s stock valued at $132,327,000 after purchasing an additional 364,754 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of iRhythm Technologies in the second quarter valued at about $21,312,000. Blair William & Co. IL lifted its stake in shares of iRhythm Technologies by 134.3% in the first quarter. Blair William & Co. IL now owns 498,163 shares of the company’s stock valued at $69,175,000 after purchasing an additional 285,555 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of iRhythm Technologies by 23.6% in the second quarter. JPMorgan Chase & Co. now owns 1,409,277 shares of the company’s stock valued at $93,505,000 after purchasing an additional 269,403 shares during the period. 96.92% of the stock is currently owned by institutional investors.

Shares of NASDAQ:IRTC traded down $0.25 during midday trading on Monday, hitting $71.56. The company had a trading volume of 1,443 shares, compared to its average volume of 383,608. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.60 and a quick ratio of 4.47. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -35.20 and a beta of 1.28. iRhythm Technologies has a 12-month low of $41.66 and a 12-month high of $286.19. The company has a fifty day moving average of $53.81 and a two-hundred day moving average of $67.73.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It offers Zio XT, is a wearable patch-based biosensor, continuously records, and stores ECG data from every patient heartbeat for up to 14 consecutive days; and Zio AT, also provides ECG data but also provides physicians with actionable notifications during the wear period.

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Earnings History and Estimates for iRhythm Technologies (NASDAQ:IRTC)

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