iRhythm Technologies, Inc. (NASDAQ:IRTC) Forecasted to Earn Q1 2022 Earnings of ($0.95) Per Share

iRhythm Technologies, Inc. (NASDAQ:IRTC) – Stock analysts at Oppenheimer increased their Q1 2022 EPS estimates for iRhythm Technologies in a research report issued on Tuesday, January 11th. Oppenheimer analyst S. Kalia now expects that the company will earn ($0.95) per share for the quarter, up from their previous estimate of ($1.09). Oppenheimer currently has a “Outperform” rating and a $150.00 price objective on the stock. Oppenheimer also issued estimates for iRhythm Technologies’ Q2 2022 earnings at ($0.92) EPS, Q3 2022 earnings at ($0.89) EPS, Q4 2022 earnings at ($0.81) EPS, FY2022 earnings at ($3.57) EPS, Q1 2023 earnings at ($1.07) EPS, Q2 2023 earnings at ($1.04) EPS, Q3 2023 earnings at ($1.01) EPS, Q4 2023 earnings at ($0.95) EPS and FY2023 earnings at ($4.07) EPS.

Other analysts have also issued research reports about the company. BTIG Research raised iRhythm Technologies from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Wednesday. Morgan Stanley raised their price target on iRhythm Technologies from $114.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Friday, January 7th. Truist Securities raised their price target on iRhythm Technologies from $130.00 to $185.00 in a research note on Thursday. Citigroup raised their price target on iRhythm Technologies from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Zacks Investment Research upgraded iRhythm Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, October 19th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, iRhythm Technologies presently has a consensus rating of “Buy” and a consensus target price of $155.92.

Shares of IRTC stock opened at $141.10 on Thursday. The stock has a fifty day moving average of $107.87 and a 200 day moving average of $75.66. iRhythm Technologies has a 52 week low of $41.66 and a 52 week high of $286.19. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of -53.40 and a beta of 1.21. The company has a quick ratio of 3.81, a current ratio of 3.93 and a debt-to-equity ratio of 0.04.

iRhythm Technologies (NASDAQ:IRTC) last released its quarterly earnings data on Thursday, November 4th. The company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.28. iRhythm Technologies had a negative return on equity of 25.06% and a negative net margin of 24.55%. The firm had revenue of $85.43 million during the quarter, compared to analyst estimates of $83.65 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. The business’s quarterly revenue was up 18.7% compared to the same quarter last year.

Several large investors have recently modified their holdings of IRTC. Newbridge Financial Services Group Inc. increased its holdings in shares of iRhythm Technologies by 190.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 435 shares of the company’s stock valued at $29,000 after acquiring an additional 285 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in iRhythm Technologies by 625.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 537 shares of the company’s stock worth $30,000 after buying an additional 463 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in iRhythm Technologies by 44.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 554 shares of the company’s stock worth $44,000 after buying an additional 170 shares in the last quarter. Fieldpoint Private Securities LLC raised its position in iRhythm Technologies by 65.7% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,377 shares of the company’s stock worth $66,000 after buying an additional 546 shares during the last quarter. Finally, Ancora Advisors LLC lifted its stake in iRhythm Technologies by 232.6% during the 2nd quarter. Ancora Advisors LLC now owns 1,430 shares of the company’s stock valued at $95,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc engages in the development of monitoring and diagnostic solutions for detection of cardiac arrhythmias. It offers Zio XT, is a wearable patch-based biosensor, continuously records, and stores ECG data from every patient heartbeat for up to 14 consecutive days; and Zio AT, also provides ECG data but also provides physicians with actionable notifications during the wear period.

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

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