Wall Street brokerages expect that iRhythm Technologies, Inc. (NASDAQ:IRTC – Get Rating) will report sales of $99.25 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for iRhythm Technologies’ earnings. The highest sales estimate is $100.73 million and the lowest is $96.24 million. iRhythm Technologies reported sales of $81.28 million during the same quarter last year, which indicates a positive year-over-year growth rate of 22.1%. The firm is expected to report its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that iRhythm Technologies will report full-year sales of $420.09 million for the current year, with estimates ranging from $418.26 million to $424.34 million. For the next fiscal year, analysts anticipate that the company will post sales of $518.03 million, with estimates ranging from $496.68 million to $542.61 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover iRhythm Technologies.
iRhythm Technologies (NASDAQ:IRTC – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.26. The firm had revenue of $92.40 million for the quarter, compared to analysts’ expectations of $86.76 million. iRhythm Technologies had a negative return on equity of 34.55% and a negative net margin of 36.43%. The company’s revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.95) earnings per share.
In other news, EVP Daniel G. Wilson sold 1,331 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $132.67, for a total value of $176,583.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Vort sold 3,161 shares of the business’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $132.67, for a total transaction of $419,369.87. The disclosure for this sale can be found here. Insiders sold a total of 11,883 shares of company stock worth $1,576,518 over the last ninety days. 1.64% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. WINTON GROUP Ltd boosted its position in shares of iRhythm Technologies by 1.2% in the 1st quarter. WINTON GROUP Ltd now owns 6,322 shares of the company’s stock worth $996,000 after buying an additional 78 shares in the last quarter. Virginia Retirement Systems ET AL raised its holdings in iRhythm Technologies by 2.5% in the first quarter. Virginia Retirement Systems ET AL now owns 4,100 shares of the company’s stock valued at $646,000 after buying an additional 100 shares during the period. Arizona State Retirement System raised its position in iRhythm Technologies by 1.7% in the third quarter. Arizona State Retirement System now owns 7,982 shares of the company’s stock valued at $467,000 after purchasing an additional 134 shares during the period. US Bancorp DE raised its position in iRhythm Technologies by 3.7% in the first quarter. US Bancorp DE now owns 4,012 shares of the company’s stock valued at $632,000 after purchasing an additional 144 shares during the period. Finally, Ascent Group LLC boosted its stake in shares of iRhythm Technologies by 6.5% in the first quarter. Ascent Group LLC now owns 2,700 shares of the company’s stock valued at $425,000 after purchasing an additional 165 shares during the period. 97.92% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:IRTC traded up $4.67 during mid-day trading on Friday, reaching $135.10. The stock had a trading volume of 8,888 shares, compared to its average volume of 381,462. The stock has a market capitalization of $4.02 billion, a P/E ratio of -31.89 and a beta of 1.24. iRhythm Technologies has a one year low of $41.66 and a one year high of $169.54. The firm has a 50 day moving average price of $138.81 and a two-hundred day moving average price of $124.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.43 and a current ratio of 4.63.
iRhythm Technologies Company Profile (Get Rating)
iRhythm Technologies, Inc, a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. It offers Zio service, an ambulatory cardiac monitoring solution that combines a wire-free, patch-based, and wearable biosensor with a cloud-based data analytic platform to help physicians to monitor patients and diagnose arrhythmias.
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