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

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.

iRhythm Technologies Trading Down 0.6 %

NASDAQ:IRTC traded down $0.70 on Thursday, reaching $112.34. The stock had a trading volume of 419,835 shares, compared to its average volume of 407,253. The company has a market cap of $3.52 billion, a price-to-earnings ratio of -23.12 and a beta of 1.29. iRhythm Technologies has a 12-month low of $55.92 and a 12-month high of $124.11. The company has a debt-to-equity ratio of 9.00, a current ratio of 6.27 and a quick ratio of 6.12. The firm's fifty day moving average is $100.63 and its two-hundred day moving average is $83.07.

Insider Transactions at iRhythm Technologies

In other news, insider Patrick Michael Murphy sold 2,492 shares of iRhythm Technologies stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $85.89, for a total value of $214,037.88. Following the completion of the sale, the insider now owns 35,327 shares of the company's stock, valued at $3,034,236.03. The trade was a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.68% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IRTC. Canaccord Genuity Group increased their price target on shares of iRhythm Technologies from $125.00 to $152.00 and gave the company a "buy" rating in a report on Monday, December 9th. Needham & Company LLC lifted their price target on shares of iRhythm Technologies from $96.00 to $112.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Robert W. Baird lowered their price target on iRhythm Technologies from $100.00 to $79.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $86.00 price objective on shares of iRhythm Technologies in a research note on Tuesday, December 3rd. Finally, Truist Financial raised their price target on iRhythm Technologies from $85.00 to $111.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.45.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.