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

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. 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.