-$1.09 Earnings Per Share Expected for iRhythm Technologies, Inc. (NASDAQ:IRTC) This Quarter

Equities analysts expect iRhythm Technologies, Inc. (NASDAQ:IRTC) to post ($1.09) earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for iRhythm Technologies’ earnings, with the highest EPS estimate coming in at ($1.02) and the lowest estimate coming in at ($1.19). iRhythm Technologies reported earnings of ($0.17) per share during the same quarter last year, which suggests a negative year over year growth rate of 541.2%. The business is expected to report 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 fiscal year, analysts forecast that the firm will post earnings of ($3.50) per share, with EPS estimates ranging from ($4.55) to ($2.30). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow iRhythm Technologies.

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

Several equities analysts recently issued reports on the stock. downgraded shares of iRhythm Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $78.00 in a research note on Wednesday, June 2nd. Citigroup cut their price target on shares of iRhythm Technologies from $74.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 6th. Canaccord Genuity increased their price target on shares of iRhythm Technologies from $210.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, August 26th. Zacks Investment Research downgraded shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of iRhythm Technologies in a research note on Wednesday, June 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $149.50.

IRTC traded up $0.78 on Monday, hitting $59.19. 7,034 shares of the company were exchanged, compared to its average volume of 625,146. The business’s fifty day moving average is $51.06 and its 200 day moving average is $74.22. The firm has a market capitalization of $1.74 billion, a P/E ratio of -28.56 and a beta of 1.43. iRhythm Technologies has a fifty-two week low of $41.66 and a fifty-two week high of $286.19. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.47 and a current ratio of 4.60.

Hedge funds have recently modified their holdings of the company. Blair William & Co. IL raised its stake in shares of iRhythm Technologies by 134.3% in the 1st quarter. Blair William & Co. IL now owns 498,163 shares of the company’s stock valued at $69,175,000 after acquiring an additional 285,555 shares during the period. Nomura Holdings Inc. acquired a new stake in iRhythm Technologies during the 1st quarter valued at $904,000. US Bancorp DE grew its holdings in iRhythm Technologies by 69.5% during the 2nd quarter. US Bancorp DE now owns 2,356 shares of the company’s stock valued at $156,000 after purchasing an additional 966 shares in the last quarter. Squarepoint Ops LLC grew its holdings in iRhythm Technologies by 1,540.0% during the 1st quarter. Squarepoint Ops LLC now owns 67,353 shares of the company’s stock valued at $9,353,000 after purchasing an additional 63,246 shares in the last quarter. Finally, Swiss National Bank grew its holdings in iRhythm Technologies by 1.9% during the 1st quarter. Swiss National Bank now owns 66,000 shares of the company’s stock valued at $9,165,000 after purchasing an additional 1,200 shares in the last quarter. 96.92% of the stock is currently owned by institutional investors and hedge funds.

About iRhythm Technologies

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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