William Blair Analysts Raise Earnings Estimates for iRhythm Technologies, Inc. (NASDAQ:IRTC)

iRhythm Technologies, Inc. (NASDAQ:IRTC) – Equities research analysts at William Blair increased their Q1 2021 EPS estimates for iRhythm Technologies in a research note issued to investors on Tuesday, April 13th. William Blair analyst M. Kaczor now forecasts that the company will post earnings per share of ($1.01) for the quarter, up from their previous forecast of ($1.19). William Blair also issued estimates for iRhythm Technologies’ Q2 2021 earnings at ($1.73) EPS, Q3 2021 earnings at $0.04 EPS, Q4 2021 earnings at ($0.54) EPS, FY2021 earnings at ($3.24) EPS, Q1 2022 earnings at ($0.66) EPS, Q2 2022 earnings at ($0.59) EPS, Q3 2022 earnings at ($0.47) EPS, Q4 2022 earnings at ($0.38) EPS and FY2022 earnings at ($2.10) EPS.

iRhythm Technologies (NASDAQ:IRTC) last issued its quarterly earnings results on Thursday, February 25th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). iRhythm Technologies had a negative return on equity of 28.89% and a negative net margin of 20.97%.

Several other equities research analysts also recently weighed in on the company. Colliers Securities reissued a “neutral” rating on shares of iRhythm Technologies in a report on Thursday, March 4th. Truist lowered their target price on shares of iRhythm Technologies from $220.00 to $115.00 in a research note on Tuesday. Truist Securities cut their price target on shares of iRhythm Technologies from $220.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday. BTIG Research downgraded shares of iRhythm Technologies from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of iRhythm Technologies in a report on Friday, January 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $176.43.

Shares of IRTC stock opened at $90.76 on Thursday. The stock’s fifty day moving average price is $136.49 and its 200 day moving average price is $199.87. iRhythm Technologies has a 1-year low of $77.43 and a 1-year high of $286.19. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -47.52 and a beta of 1.68. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.55 and a quick ratio of 6.46.

In other news, EVP David A. Vort sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $247.70, for a total value of $1,238,500.00. Following the completion of the transaction, the executive vice president now owns 27,126 shares of the company’s stock, valued at approximately $6,719,110.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. acquired a new position in shares of iRhythm Technologies in the 1st quarter valued at $1,911,000. Great West Life Assurance Co. Can grew its position in iRhythm Technologies by 308.5% during the third quarter. Great West Life Assurance Co. Can now owns 8,056 shares of the company’s stock valued at $478,000 after buying an additional 6,084 shares during the period. Truist Financial Corp purchased a new position in iRhythm Technologies in the third quarter valued at $291,000. AQR Capital Management LLC raised its position in shares of iRhythm Technologies by 134.8% in the third quarter. AQR Capital Management LLC now owns 15,245 shares of the company’s stock worth $3,630,000 after acquiring an additional 8,753 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of iRhythm Technologies in the third quarter worth about $31,000.

iRhythm Technologies Company Profile

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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Earnings History and Estimates for iRhythm Technologies (NASDAQ:IRTC)

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