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

iRhythm Technologies (NASDAQ:IRTC) issued its earnings results on Thursday. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 Stock Down 0.6 %

IRTC stock traded down $0.70 during trading on Thursday, reaching $112.34. The stock had a trading volume of 419,835 shares, compared to its average volume of 407,253. The firm has a fifty day moving average price of $100.63 and a 200 day moving average price of $83.07. The company has a current ratio of 6.27, a quick ratio of 6.12 and a debt-to-equity ratio of 9.00. The company has a market capitalization of $3.52 billion, a P/E ratio of -23.12 and a beta of 1.29. iRhythm Technologies has a 1-year low of $55.92 and a 1-year high of $124.11.

Insider Transactions at iRhythm Technologies

In other news, insider Patrick Michael Murphy sold 2,492 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $85.89, for a total transaction of $214,037.88. Following the completion of the sale, the insider now owns 35,327 shares of the company’s stock, valued at approximately $3,034,236.03. This trade represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

IRTC has been the topic of several research analyst reports. Truist Financial lifted their price objective on iRhythm Technologies from $85.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Oppenheimer raised their price target on shares of iRhythm Technologies from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Canaccord Genuity Group boosted their price objective on shares of iRhythm Technologies from $125.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Wells Fargo & Company reissued an “equal weight” rating and issued a $86.00 target price on shares of iRhythm Technologies in a research note on Tuesday, December 3rd. Finally, Robert W. Baird decreased their price target on shares of iRhythm Technologies from $100.00 to $79.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $108.45.

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.