Irhythm Technologies (IRTC) Announces Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Irhythm Technologies (NASDAQ:IRTC) issued its quarterly earnings data on Wednesday. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.13), Bloomberg Earnings reports. The company had revenue of $28.20 million for the quarter, compared to analyst estimates of $26.79 million. Irhythm Technologies had a negative return on equity of 27.67% and a negative net margin of 27.56%. The company’s revenue was up 50.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.37) earnings per share.

Shares of Irhythm Technologies (IRTC) traded up $0.62 on Wednesday, hitting $59.68. 344,393 shares of the stock traded hands, compared to its average volume of 212,697. Irhythm Technologies has a 12 month low of $32.10 and a 12 month high of $66.20. The company has a market capitalization of $1,366.71, a PE ratio of -49.63 and a beta of 1.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 7.65 and a quick ratio of 7.57.

Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Irhythm Technologies from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. BidaskClub downgraded shares of Irhythm Technologies from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Dougherty & Co assumed coverage on shares of Irhythm Technologies in a research report on Friday, December 1st. They set a “neutral” rating for the company. Morgan Stanley raised their price objective on shares of Irhythm Technologies from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 3rd. Finally, Canaccord Genuity raised their price objective on shares of Irhythm Technologies from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.25.

In other news, CFO Matthew C. Garrett sold 1,193 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $55.00, for a total transaction of $65,615.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vijay K. Lathi sold 225,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $52.10, for a total transaction of $11,722,500.00. The disclosure for this sale can be found here. Insiders have sold 476,533 shares of company stock worth $25,222,506 over the last ninety days. Insiders own 23.30% of the company’s stock.

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Irhythm Technologies Company Profile

iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.

Earnings History for Irhythm Technologies (NASDAQ:IRTC)

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