iRhythm Technologies (IRTC) Scheduled to Post Earnings on Wednesday

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

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.28. iRhythm Technologies had a negative net margin of 24.50% and a negative return on equity of 84.14%. The company had revenue of $148.05 million during the quarter, compared to analysts’ expectations of $146.15 million. During the same quarter in the previous year, the company earned ($0.61) EPS. iRhythm Technologies’s revenue was up 19.3% on a year-over-year basis. 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 0.8 %

Shares of NASDAQ:IRTC opened at $76.30 on Tuesday. iRhythm Technologies has a one year low of $55.92 and a one year high of $124.11. The company has a 50 day moving average of $68.85 and a 200-day moving average of $85.87. The company has a debt-to-equity ratio of 6.50, a current ratio of 6.92 and a quick ratio of 6.76. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -18.04 and a beta of 1.22.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IRTC. StockNews.com cut shares of iRhythm Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Morgan Stanley lowered their price objective on shares of iRhythm Technologies from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Robert W. Baird dropped their price objective on iRhythm Technologies from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on iRhythm Technologies from $133.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Truist Financial raised their price objective on iRhythm Technologies from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, iRhythm Technologies presently has an average rating of “Moderate Buy” and an average target price of $113.90.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, EVP Mervin Smith sold 688 shares of iRhythm Technologies stock in a transaction dated 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 of the company’s stock, valued at $773,477.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Mervin Smith sold 688 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $74.66, for a total value of $51,366.08. Following the completion of the transaction, the executive vice president now owns 10,360 shares in the company, valued at $773,477.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brice Bobzien sold 1,372 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $70.34, for a total value 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 $1,718,265.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,072 shares of company stock valued at $372,748 in the last 90 days. 0.68% of the stock is currently owned by company insiders.

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.