iRhythm Technologies, Inc. Forecasted to Earn Q1 2024 Earnings of ($1.00) Per Share (NASDAQ:IRTC)

iRhythm Technologies, Inc. (NASDAQ:IRTCFree Report) – Investment analysts at William Blair cut their Q1 2024 earnings estimates for iRhythm Technologies in a research report issued on Tuesday, February 27th. William Blair analyst M. Kaczor now expects that the company will post earnings per share of ($1.00) for the quarter, down from their previous forecast of ($0.79). The consensus estimate for iRhythm Technologies’ current full-year earnings is ($3.14) per share. William Blair also issued estimates for iRhythm Technologies’ Q2 2024 earnings at ($0.81) EPS, Q3 2024 earnings at ($0.59) EPS, Q4 2024 earnings at ($0.52) EPS, FY2024 earnings at ($2.91) EPS and Q4 2025 earnings at ($0.50) EPS.

IRTC has been the topic of several other research reports. Canaccord Genuity Group lifted their target price on shares of iRhythm Technologies from $121.00 to $133.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Needham & Company LLC lifted their target price on shares of iRhythm Technologies from $136.00 to $137.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Citigroup upgraded shares of iRhythm Technologies from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Monday, December 11th. JPMorgan Chase & Co. lowered their price target on shares of iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Finally, Truist Financial boosted their price target on shares of iRhythm Technologies from $115.00 to $133.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat, iRhythm Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $135.11.

Check Out Our Latest Report on iRhythm Technologies

iRhythm Technologies Stock Up 1.6 %

Shares of NASDAQ IRTC opened at $120.52 on Thursday. The company’s 50-day simple moving average is $113.31 and its 200-day simple moving average is $98.44. iRhythm Technologies has a 52-week low of $70.24 and a 52-week high of $140.23. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of -29.76 and a beta of 1.33. The company has a quick ratio of 2.02, a current ratio of 2.15 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling at iRhythm Technologies

In other iRhythm Technologies news, insider Patrick Michael Murphy sold 7,615 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $928,725.40. Following the transaction, the insider now directly owns 48,962 shares in the company, valued at approximately $5,971,405.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other iRhythm Technologies news, CEO Quentin S. Blackford sold 24,701 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $3,012,533.96. Following the transaction, the chief executive officer now directly owns 180,015 shares in the company, valued at approximately $21,954,629.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick Michael Murphy sold 7,615 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $121.96, for a total transaction of $928,725.40. Following the completion of the transaction, the insider now owns 48,962 shares in the company, valued at $5,971,405.52. The disclosure for this sale can be found here. Insiders have sold 42,270 shares of company stock worth $5,020,634 in the last ninety days. 0.43% of the stock is owned by insiders.

Institutional Investors Weigh In On iRhythm Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in shares of iRhythm Technologies in the 2nd quarter valued at approximately $177,000. Mackenzie Financial Corp raised its stake in shares of iRhythm Technologies by 3.4% in the 3rd quarter. Mackenzie Financial Corp now owns 1,262,179 shares of the company’s stock valued at $111,425,000 after acquiring an additional 41,052 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of iRhythm Technologies in the 3rd quarter valued at approximately $1,046,000. TD Asset Management Inc raised its stake in shares of iRhythm Technologies by 48.4% in the 3rd quarter. TD Asset Management Inc now owns 33,904 shares of the company’s stock valued at $3,196,000 after acquiring an additional 11,052 shares during the period. Finally, WCM Investment Management LLC purchased a new stake in shares of iRhythm Technologies in the 3rd quarter valued at approximately $7,779,000.

iRhythm Technologies Company Profile

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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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