iRhythm Technologies (NASDAQ:IRTC) Posts Quarterly Earnings Results, Beats Estimates By $0.30 EPS

iRhythm Technologies (NASDAQ:IRTC) announced its quarterly earnings data on Thursday. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.30, Zacks reports. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%. The business had revenue of $164.33 million during the quarter, compared to analysts’ expectations of $158.30 million.

iRhythm Technologies Stock Up 6.4 %

Shares of IRTC stock traded up $7.26 on Friday, hitting $119.93. 831,624 shares of the stock were exchanged, compared to its average volume of 417,738. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The firm has a market capitalization of $3.75 billion, a P/E ratio of -24.73 and a beta of 1.29. iRhythm Technologies has a fifty-two week low of $55.92 and a fifty-two week high of $128.52. The business has a 50-day moving average of $101.11 and a 200 day moving average of $83.27.

Insider Activity at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of iRhythm Technologies stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total value of $214,037.88. Following the sale, the insider now directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. The trade was a 6.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on iRhythm Technologies from $86.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday. Oppenheimer lifted their price objective on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Needham & Company LLC upped their target price on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research note on Friday. Truist Financial lifted their price target on shares of iRhythm Technologies from $85.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group upped their price objective on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $112.45.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.