iRhythm Technologies (NASDAQ:IRTC) Announces Earnings Results

iRhythm Technologies (NASDAQ:IRTC) 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. The firm had revenue of $164.33 million during the quarter, compared to analyst estimates of $158.30 million. iRhythm Technologies had a negative return on equity of 120.86% and a negative net margin of 26.90%.

iRhythm Technologies Trading Up 6.4 %

NASDAQ:IRTC traded up $7.26 during trading hours on Friday, hitting $119.93. 831,624 shares of the stock were exchanged, compared to its average volume of 417,738. The company has a market capitalization of $3.75 billion, a P/E ratio of -24.73 and a beta of 1.29. The company has a quick ratio of 6.12, a current ratio of 6.27 and a debt-to-equity ratio of 9.00. The company’s 50 day moving average is $101.11 and its two-hundred day moving average is $83.27. iRhythm Technologies has a twelve month low of $55.92 and a twelve month high of $128.52.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 2,492 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $85.89, for a total transaction of $214,037.88. Following the transaction, the insider now directly owns 35,327 shares in the company, valued at approximately $3,034,236.03. This represents a 6.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

IRTC has been the topic of several analyst reports. Oppenheimer upped their target price on shares of iRhythm Technologies from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Needham & Company LLC boosted their price target on shares of iRhythm Technologies from $125.00 to $138.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial upped their price objective on shares of iRhythm Technologies from $85.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Robert W. Baird cut their target price on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Canaccord Genuity Group increased their price target on iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.45.

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.