iRhythm Technologies (IRTC) to Release Quarterly Earnings on Wednesday

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) will be releasing its earnings data 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.Individual interested in registering for the company's earnings conference call can do so using this link.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported ($0.61) earnings per share for the quarter, topping analysts' consensus estimates of ($0.89) by $0.28. The business had revenue of $148.05 million for the quarter, compared to analyst estimates of $146.15 million. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 84.14%. iRhythm Technologies's revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.61) EPS. 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 traded down $1.23 during trading on Wednesday, hitting $74.36. The stock had a trading volume of 721,172 shares, compared to its average volume of 462,741. The company has a current ratio of 6.92, a quick ratio of 6.76 and a debt-to-equity ratio of 6.50. iRhythm Technologies has a 12 month low of $55.92 and a 12 month high of $124.11. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -17.58 and a beta of 1.22. The business's 50-day moving average is $68.28 and its 200 day moving average is $86.84.

Wall Street Analyst Weigh In

IRTC has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of iRhythm Technologies from $133.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. Canaccord Genuity Group raised their price objective on iRhythm Technologies from $122.00 to $137.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Robert W. Baird reduced their price target on shares of iRhythm Technologies from $120.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. Citigroup lowered their price objective on shares of iRhythm Technologies from $135.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Finally, Oppenheimer reduced their target price on shares of iRhythm Technologies from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $113.90.

Insider Activity

In other iRhythm Technologies news, CFO Brice Bobzien sold 1,372 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $70.34, for a total value of $96,506.48. Following the completion of the sale, the chief financial officer now owns 24,428 shares in the company, valued at approximately $1,718,265.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Chad Patterson sold 3,012 shares of the business's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $74.66, for a total transaction of $224,875.92. Following the transaction, the insider now owns 37,133 shares in the company, valued at $2,772,349.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brice Bobzien sold 1,372 shares of iRhythm Technologies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $70.34, for a total value of $96,506.48. Following the sale, the chief financial officer now directly owns 24,428 shares in the company, valued at approximately $1,718,265.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,072 shares of company stock valued at $372,748. Insiders own 0.68% of the company's stock.

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.