iRhythm Technologies, Inc. (NASDAQ:IRTC) Expected to Post Earnings of -$1.09 Per Share

Equities research analysts predict that iRhythm Technologies, Inc. (NASDAQ:IRTC) will announce earnings of ($1.09) per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for iRhythm Technologies’ earnings. The lowest EPS estimate is ($1.19) and the highest is ($1.02). iRhythm Technologies reported earnings per share of ($0.17) in the same quarter last year, which suggests a negative year-over-year growth rate of 541.2%. The business is expected to announce its next quarterly earnings report on Thursday, November 4th.

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

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

IRTC has been the subject of a number of research analyst reports. 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. JPMorgan Chase & Co. boosted their target price on shares of iRhythm Technologies from $55.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday. Citigroup upped their price objective on shares of iRhythm Technologies from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 1st. Finally, Zacks Investment Research downgraded shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, October 6th. One equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $147.83.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of iRhythm Technologies by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,974,213 shares of the company’s stock worth $274,139,000 after acquiring an additional 161,457 shares during the period. Mackenzie Financial Corp bought a new stake in shares of iRhythm Technologies during the second quarter valued at approximately $120,316,000. JPMorgan Chase & Co. increased its holdings in iRhythm Technologies by 23.6% during the second quarter. JPMorgan Chase & Co. now owns 1,409,277 shares of the company’s stock valued at $93,505,000 after buying an additional 269,403 shares during the period. Credit Suisse AG grew its holdings in shares of iRhythm Technologies by 22.3% during the second quarter. Credit Suisse AG now owns 1,165,559 shares of the company’s stock valued at $77,334,000 after buying an additional 212,601 shares during the last quarter. Finally, State Street Corp lifted its position in iRhythm Technologies by 27.4% during the second quarter. State Street Corp now owns 813,955 shares of the company’s stock valued at $54,006,000 after purchasing an additional 174,847 shares during the period. Institutional investors own 96.92% of the company’s stock.

Shares of IRTC stock traded down $0.25 during midday trading on Monday, reaching $71.56. 1,443 shares of the stock were exchanged, compared to its average volume of 383,608. The company has a current ratio of 4.60, a quick ratio of 4.47 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.10 billion, a PE ratio of -35.20 and a beta of 1.28. The company’s 50 day moving average is $53.81 and its two-hundred day moving average is $67.73. iRhythm Technologies has a 1 year low of $41.66 and a 1 year high of $286.19.

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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