iRhythm Technologies (IRTC) Set to Announce Earnings on Thursday

iRhythm Technologies (NASDAQ:IRTC) will be issuing its quarterly earnings data after the market closes on Thursday, August 1st. Analysts expect the company to announce earnings of ($0.92) per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

iRhythm Technologies (NASDAQ:IRTC) last announced its earnings results on Thursday, May 2nd. The company reported ($1.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.48). iRhythm Technologies had a negative net margin of 25.33% and a negative return on equity of 69.87%. The firm had revenue of $131.93 million for the quarter, compared to analyst estimates of $128.87 million. 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 Price Performance

Shares of iRhythm Technologies stock opened at $88.57 on Tuesday. The business has a 50 day simple moving average of $95.73 and a two-hundred day simple moving average of $105.74. iRhythm Technologies has a 12 month low of $70.24 and a 12 month high of $124.11. The stock has a market capitalization of $2.75 billion, a P/E ratio of -20.94 and a beta of 1.24. The company has a debt-to-equity ratio of 7.13, a current ratio of 7.10 and a quick ratio of 6.95.

Insider Activity

In related news, EVP Sumi Shrishrimal sold 1,131 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $88.91, for a total value of $100,557.21. Following the completion of the transaction, the executive vice president now directly owns 23,298 shares in the company, valued at $2,071,425.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CMO Minang Turakhia sold 1,404 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $105.65, for a total value of $148,332.60. Following the completion of the transaction, the chief marketing officer now directly owns 27,255 shares in the company, valued at $2,879,490.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sumi Shrishrimal sold 1,131 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $88.91, for a total value of $100,557.21. Following the completion of the transaction, the executive vice president now owns 23,298 shares of the company’s stock, valued at $2,071,425.18. The disclosure for this sale can be found here. Insiders sold 3,045 shares of company stock worth $294,234 over the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

IRTC has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Wolfe Research raised iRhythm Technologies from a “peer perform” rating to an “outperform” rating and set a $115.00 target price for the company in a report on Thursday, June 20th. Canaccord Genuity Group reduced their target price on iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Needham & Company LLC increased their target price on iRhythm Technologies from $137.00 to $138.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Truist Financial dropped their price target on iRhythm Technologies from $145.00 to $134.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.88.

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.