It’s Time To Focus On The Long Run With iRhythm Technologies Inc. (IRTC) stock

The closing price of iRhythm Technologies Inc. (NASDAQ: IRTC) was 132.43 for the day, down -14.80% from the previous closing price of $155.44. In other words, the price has decreased by $-23.01 from its previous closing price. On the day, 1430913 shares were traded. IRTC reached its highest trading level at $155.00 during the session, while it also had its lowest trading level at $132.42.

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Our analysis of IRTC’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 3.80 and its Current Ratio is at 4.00. In the meantime, Its Debt-to-Equity ratio is 0.14 whereas as Long-Term Debt/Eq ratio is at 0.14.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Citigroup on June 09, 2022, Downgraded its rating to Neutral and sets its target price to $155 from $180 previously.

On April 06, 2022, Wolfe Research started tracking the stock assigning a Underperform rating and target price of $105.

Needham Upgraded its Hold to Buy on February 24, 2022, while the target price for the stock was maintained at $135.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Sep 12 when Bairey Merz Cathleen Noel sold 90 shares for $159.77 per share. The transaction valued at 14,379 led to the insider holds 4,887 shares of the business.

Devine Douglas sold 10,109 shares of IRTC for $1,154,650 on Jul 07. The Chief Operating Officer & CFO now owns 29,702 shares after completing the transaction at $114.22 per share. On Jul 05, another insider, Wilson Daniel G., who serves as the EVP, Strategy Corp Dev Inv Rel of the company, sold 1,428 shares for $108.93 each. As a result, the insider received 155,553 and left with 37,562 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 11.34 while its Price-to-Book (P/B) ratio in mrq is 16.15.

Stock Price History:

Over the past 52 weeks, IRTC has reached a high of $169.54, while it has fallen to a 52-week low of $56.49. The 50-Day Moving Average of the stock is 150.28, while the 200-Day Moving Average is calculated to be 132.66.

Shares Statistics:

IRTC traded an average of 385.27K shares per day over the past three months and 372.35k shares per day over the past ten days. A total of 29.84M shares are outstanding, with a floating share count of 29.57M. Shares short for IRTC as of Jul 14, 2022 were 1.85M with a Short Ratio of 4.35, compared to 1.63M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 6.20% and a Short% of Float of 6.99%.

Earnings Estimates

The firm’s stock currently is rated by 9 analysts. On average, analysts expect EPS of $-0.92 for the current quarter, with a high estimate of $-0.81 and a low estimate of $-1.01, while EPS last year was $-0.59. The consensus estimate for the next quarter is $-0.83, with high estimates of $-0.77 and low estimates of $-0.88.

Analysts are recommending an EPS of between $-3.06 and $-4.44 for the fiscal current year, implying an average EPS of $-3.58. EPS for the following year is $-2.42, with 9 analysts recommending between $-1.59 and $-5.14.

Revenue Estimates

It is expected that $90B in revenue will be generated in the current quarter, according to 8 analysts. It ranges from a high estimate of $101.5M to a low estimate of $99.2M. As of the current estimate, iRhythm Technologies Inc.’s year-ago sales were $72.69M, an estimated increase of 37.70% from the year-ago figure. For the next quarter, 8 analysts are estimating revenue of $108.09M, an increase of 26.50% less than the figure of $37.70% in the same quarter last year. There is a high estimate of $109M for the next quarter, whereas the lowest estimate is $106.8M.

A total of 10 analysts have provided revenue estimates for IRTC’s current fiscal year. The highest revenue estimate was $420.35M, while the lowest revenue estimate was $414.46M, resulting in an average revenue estimate of $417.68M. In the same quarter a year ago, actual revenue was $322.82M, up 29.40% from the average estimate. Based on 10 analysts’ estimates, the company’s revenue will be $492.17M in the next fiscal year. The high estimate is $542.61M and the low estimate is $414M. The average revenue growth estimate for next year is up 17.80% from the average revenue estimate for this year.