iRhythm Technologies Stock Rises Post FDA Clearance for Zio AT
IRTC receives FDA 510(k) clearance for prior design modifications to its Zio AT device, reinforcing its commitment to quality and compliance.
iRhythm's Zio ECG System Gets Approval in Japan, Stock Falls
IRTC's Zio ECG monitoring system gets approval in Japan, marking a significant step in revolutionizing arrhythmia diagnostics with AI-powered technology.
iRhythm Stock Gains Following Favorable Zio Monitor Study Data
IRTC announces initial findings demonstrating the superior real-world performance of the next-generation Zio LTCM Monitor at the HRX 2024 meeting.
iRhythm Stock May Gain on Its Latest Deal With BioIntelliSense
IRTC announces an exclusive license agreement with BioIntelliSense to develop and commercialize certain patented technology assets within AMC.
iRhythm Technologies Launches Zio Monitoring Across Europe
IRTC launches Zio monitor in Austria, Netherlands, Spain and Switzerland, which offers 14-day continuous ECG monitoring, enhancing arrhythmia diagnosis and patient care.
All You Need to Know About iRhythm Technologies (IRTC) Rating Upgrade to Buy
iRhythm Technologies (IRTC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
iRhythm Technologies, Inc. (IRTC) Q2 2024 Earnings Call Transcript
iRhythm Technologies, Inc. (NASDAQ:IRTC ) Q1 2024 Earnings Conference Call August 1, 2024 4:30 PM ET Company Participants Stephanie Zhadkevich - Director, Investor Relations Quentin Blackford - President and CEO Brice Bobzien - Chief Financial Officer Daniel Wilson - EVP of Corporate Development and Investor Relations Conference Call Participants Margaret Andrew - William Blair Allen Gong - JPMorgan Marie Thibault - BTIG LLC David Rescott - Baird Nathan Treybeck - Wells Fargo Joanne Wuensch - Citigroup Mike Polark - Wolfe Research Ravi Misra - Truist David Saxon - Needham & Company Suraj Kalia - Oppenheimer Operator Hello all, and welcome to iRhythm Technologies Second Quarter 2024 Earnings Conference Call. My name is Lydia and I'll be your operator today.
IRhythm Technologies (IRTC) Reports Q2 Loss, Tops Revenue Estimates
IRhythm Technologies (IRTC) came out with a quarterly loss of $0.61 per share versus the Zacks Consensus Estimate of a loss of $0.92. This compares to loss of $0.61 per share a year ago.
Amalgamated Bank Sells 307 Shares of iRhythm Technologies, Inc. (NASDAQ:IRTC)
Amalgamated Bank lowered its holdings in shares of iRhythm Technologies, Inc. (NASDAQ:IRTC – Free Report) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,396 shares of the company’s stock after selling 307 shares during the quarter. Amalgamated Bank’s holdings in iRhythm Technologies were worth $471,000 as of its most recent filing with the Securities & Exchange Commission. Several other institutional investors have also recently made changes to their positions in IRTC. Victory Capital Management Inc. increased its holdings in iRhythm Technologies by 22.3% during the fourth quarter. Victory Capital Management Inc. now owns 4,070 shares of the company’s stock valued at $436,000 after buying an additional 743 shares during the last quarter. Truist Financial Corp increased its stake in shares of iRhythm Technologies by 7.6% in the 4th quarter. Truist Financial Corp now owns 16,226 shares of the company’s stock worth $1,737,000 after purchasing an additional 1,140 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of iRhythm Technologies by 25.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 29,300 shares of the company’s stock worth $3,136,000 after purchasing an additional 6,012 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in iRhythm Technologies by 3.3% in the 4th quarter. Handelsbanken Fonder AB now owns 6,239 shares of the company’s stock worth $668,000 after purchasing an additional 200 shares during the period. Finally, WCM Investment Management LLC lifted its position in iRhythm Technologies by 61.4% during the fourth quarter. WCM Investment Management LLC now owns 133,195 shares of the company’s stock valued at $14,497,000 after purchasing an additional 50,673 shares in the last quarter. Wall Street Analysts Forecast Growth Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on iRhythm Technologies from $142.00 to $133.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Canaccord Genuity Group decreased their target price on shares of iRhythm Technologies from $133.00 to $122.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Finally, Needham & Company LLC upped their price target on shares of iRhythm Technologies from $137.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat, iRhythm Technologies has an average rating of “Moderate Buy” and a consensus target price of $134.00. View Our Latest Stock Report on iRhythm Technologies iRhythm Technologies Trading Down 3.9 % Shares of IRTC opened at $94.83 on Monday. iRhythm Technologies, Inc. has a 1 year low of $70.24 and a 1 year high of $132.92. The company has a 50 day simple moving average of $108.44 and a two-hundred day simple moving average of $104.86. The company has a debt-to-equity ratio of 7.13, a current ratio of 7.10 and a quick ratio of 6.95. The firm has a market cap of $2.95 billion, a P/E ratio of -22.42 and a beta of 1.31. iRhythm Technologies (NASDAQ:IRTC – Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.66). iRhythm Technologies had a negative net margin of 25.33% and a negative return on equity of 69.87%. The company had revenue of $132.51 million during the quarter, compared to the consensus estimate of $131.14 million. On average, equities analysts expect that iRhythm Technologies, Inc. will post -3.22 earnings per share for the current fiscal year. Insider Buying and Selling In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,261 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $121.96, for a total transaction of $153,791.56. Following the completion of the transaction, the executive vice president now owns 32,967 shares in the company, valued at approximately $4,020,655.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other iRhythm Technologies news, EVP Daniel G. Wilson sold 1,261 shares of iRhythm Technologies stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $121.96, for a total value of $153,791.56. Following the completion of the transaction, the executive vice president now directly owns 32,967 shares of the company’s stock, valued at approximately $4,020,655.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mark J. Day sold 1,475 shares of the company’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 $179,891.00. Following the sale, the chief technology officer now owns 64,412 shares in the company, valued at $7,855,687.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,052 shares of company stock worth $4,274,942. Corporate insiders own 0.68% of the company’s stock. iRhythm Technologies Company Profile (Free Report) 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. See Also Five stocks we like better than iRhythm Technologies What Investors Need to Know About Upcoming IPOs MarketBeat Week in Review – 5/13 – 5/17 3 REITs to Buy and Hold for the Long Term Take-Two Interactive Software Offers 2nd Chance for Investors The Role Economic Reports Play in a Successful Investment Strategy Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook Want to see what other hedge funds are holding IRTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iRhythm Technologies, Inc. (NASDAQ:IRTC – Free Report).
