iRhythm Technologies (IRTC) Set to Announce Quarterly Earnings on Wednesday

iRhythm Technologies (NASDAQ:IRTC) is set to post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect iRhythm Technologies to post earnings of ($0.55) per share for the quarter. iRhythm Technologies has set its FY 2024 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.28. iRhythm Technologies had a negative return on equity of 84.14% and a negative net margin of 24.50%. The business had revenue of $148.05 million during the quarter, compared to analyst estimates of $146.15 million. During the same period in the prior year, the firm posted ($0.61) EPS. iRhythm Technologies’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, analysts expect iRhythm Technologies to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

iRhythm Technologies Stock Up 21.7 %

iRhythm Technologies stock opened at $75.59 on Wednesday. iRhythm Technologies has a fifty-two week low of $55.92 and a fifty-two week high of $124.11. The firm’s 50-day simple moving average is $68.13 and its 200 day simple moving average is $86.93. The company has a debt-to-equity ratio of 6.50, a quick ratio of 6.76 and a current ratio of 6.92. The stock has a market cap of $2.35 billion, a PE ratio of -17.87 and a beta of 1.22.

Insider Activity

In related news, CFO Brice Bobzien sold 1,372 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the transaction, the chief financial officer now owns 24,428 shares of the company’s stock, valued at approximately $1,718,265.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Mervin Smith sold 688 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $51,366.08. Following the sale, the executive vice president now owns 10,360 shares in the company, valued at approximately $773,477.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brice Bobzien sold 1,372 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $70.34, for a total transaction of $96,506.48. Following the completion of the sale, the chief financial officer now directly owns 24,428 shares in the company, valued at $1,718,265.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,072 shares of company stock worth $372,748 over the last ninety days. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial lifted their price target on iRhythm Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley lowered their price objective on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. StockNews.com downgraded shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. Canaccord Genuity Group lifted their price target on shares of iRhythm Technologies from $122.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group started coverage on iRhythm Technologies in a report on Friday, October 4th. They set a “neutral” rating and a $78.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $113.90.

About iRhythm Technologies

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.