iRhythm Technologies, Inc. (NASDAQ:IRTC) Expected to Post Earnings of -$0.95 Per Share

Equities research analysts expect iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) to report earnings of ($0.95) per share for the current quarter, according to Zacks. Five analysts have made estimates for iRhythm Technologies’ earnings, with the lowest EPS estimate coming in at ($1.00) and the highest estimate coming in at ($0.89). iRhythm Technologies posted earnings per share of ($0.59) during the same quarter last year, which indicates a negative year-over-year growth rate of 61%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that iRhythm Technologies will report full-year earnings of ($3.28) per share for the current year, with EPS estimates ranging from ($3.43) to ($3.11). For the next financial year, analysts expect that the company will report earnings of ($1.99) per share, with EPS estimates ranging from ($2.62) to ($1.70). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for iRhythm Technologies.

iRhythm Technologies (NASDAQ:IRTC – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.26. iRhythm Technologies had a negative return on equity of 34.55% and a negative net margin of 36.43%. The company had revenue of $92.40 million for the quarter, compared to analyst estimates of $86.76 million. During the same period last year, the company posted ($0.95) earnings per share. The firm’s revenue was up 24.4% compared to the same quarter last year.

A number of research firms recently commented on IRTC. Citigroup downgraded iRhythm Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $180.00 to $155.00 in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on iRhythm Technologies from $156.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, April 4th. Needham & Company LLC upgraded iRhythm Technologies from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research note on Thursday, February 24th. Zacks Investment Research downgraded iRhythm Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Finally, StockNews.com assumed coverage on iRhythm Technologies in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, iRhythm Technologies has an average rating of “Buy” and a consensus target price of $159.54.

NASDAQ:IRTC traded down $11.19 during mid-day trading on Thursday, reaching $138.03. The stock had a trading volume of 611,328 shares, compared to its average volume of 377,239. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -32.79 and a beta of 1.23. iRhythm Technologies has a 1-year low of $41.66 and a 1-year high of $169.54. The stock’s 50 day simple moving average is $138.48 and its two-hundred day simple moving average is $126.78. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.63 and a quick ratio of 4.43.

A number of hedge funds and other institutional investors have recently bought and sold shares of IRTC. LTS One Management LP bought a new position in iRhythm Technologies during the fourth quarter valued at about $94,152,000. Capital Research Global Investors raised its holdings in iRhythm Technologies by 777.0% during the fourth quarter. Capital Research Global Investors now owns 877,000 shares of the company’s stock valued at $103,214,000 after buying an additional 777,000 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in iRhythm Technologies during the first quarter valued at about $84,724,000. Camber Capital Management LP acquired a new stake in shares of iRhythm Technologies in the third quarter valued at about $27,816,000. Finally, Norges Bank acquired a new stake in shares of iRhythm Technologies in the fourth quarter valued at about $39,354,000. Institutional investors own 97.92% of the company’s stock.

iRhythm Technologies Company Profile (Get Rating)

iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It 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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