IRHYTHM TECH Company Profile (NASDAQ:IRTC)

About IRHYTHM TECH (NASDAQ:IRTC)

IRHYTHM TECH logoiRhythm Technologies, Inc. is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report. Its myZIO provides a way for patients to enter their symptoms as they occur and on-the-go while wearing the ZIO Patch. Its ZIO Event Card is indicated for use on patients who experience transient symptoms, such as syncope, palpitations, and shortness of breath or dizziness. Its ZIO XT Patch is a non-invasive, water-resistant heart monitor, which prompts high patient compliance and a higher diagnostic yield. Its algorithms analyze the amounts of captured heart beat data and a concise report is provided to the patient's physician. Its ZIO Report produces a higher diagnostic yield and to change patient management.

Industry, Sector and Symbol:
  • Sector: Medical
  • Industry: Medical Monitoring Systems
  • Sub-Industry: N/A
  • Symbol: NASDAQ:IRTC
  • CUSIP: N/A
  • Web: www.irhythmtech.com
Capitalization:
  • Market Cap: $1.02535 billion
  • Outstanding Shares: 22,730,000
Average Prices:
  • 50 Day Moving Avg: $42.63
  • 200 Day Moving Avg: $37.77
  • 52 Week Range: $22.16 - $45.98
P/E:
  • Trailing P/E Ratio: N/A
  • Foreward P/E Ratio: -69.60
  • P/E Growth: 0.00
Sales & Book Value:
  • Annual Revenue: $80.78 million
  • Price / Sales: 12.34
  • Book Value: $3.87 per share
  • Price / Book: 11.33
Profitability:
  • EBIDTA: ($16,910,000.00)
  • Net Margins: -27.34%
  • Return on Equity: -57.23%
  • Return on Assets: -20.42%
Debt:
  • Debt-to-Equity Ratio: 0.36%
  • Current Ratio: 8.15%
  • Quick Ratio: 8.07%
Misc:
  • Average Volume: 361,523 shs.
  • Short Ratio: 2.47
 

Frequently Asked Questions for IRHYTHM TECH (NASDAQ:IRTC)

What is IRHYTHM TECH's stock symbol?

IRHYTHM TECH trades on the NASDAQ under the ticker symbol "IRTC."

How were IRHYTHM TECH's earnings last quarter?

IRHYTHM TECH (NASDAQ:IRTC) issued its earnings results on Wednesday, August, 2nd. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.02. The business earned $23.85 million during the quarter, compared to analysts' expectations of $22.10 million. IRHYTHM TECH had a negative return on equity of 57.23% and a negative net margin of 27.34%. The business's revenue was up 51.6% on a year-over-year basis. View IRHYTHM TECH's Earnings History.

When will IRHYTHM TECH make its next earnings announcement?

IRHYTHM TECH is scheduled to release their next quarterly earnings announcement on Monday, December, 4th 2017. View Earnings Estimates for IRHYTHM TECH.

Where is IRHYTHM TECH's stock going? Where will IRHYTHM TECH's stock price be in 2017?

4 brokers have issued 1-year target prices for IRHYTHM TECH's shares. Their forecasts range from $28.00 to $47.00. On average, they anticipate IRHYTHM TECH's share price to reach $37.75 in the next twelve months. View Analyst Ratings for IRHYTHM TECH.

What are analysts saying about IRHYTHM TECH stock?

Here are some recent quotes from research analysts about IRHYTHM TECH stock:

  • 1. According to Zacks Investment Research, "iRhythm Technologies, Inc. is a digital healthcare company. It focuses on the provision of ambulatory electrocardiogram, monitoring for patients at risk for arrhythmias primarily in the United States. The company offers ZIO Service, a platform which provides wearable biosensor with cloud-based data analytics that distill data from heartbeats into clinically actionable information. iRhythm Technologies, Inc. is headquartered in San Francisco, California. " (8/8/2017)
  • 2. Canaccord Genuity analysts commented, "We reiterate our BUY rating on shares of IRTC following recent FDA approval of the firm’s next generation Zio platform with timely data transmission capabilities. Approval for the platform comes a bit earlier than our expectations, with IRTC seemingly on track for a US market launch in 2H:17E. While we expect a measured ramp – given the firm will once again engage insurers vis-à-vis the contracting process for this new technology – we surmise that FDA approval for this market-expanding, next-generation platform opens up the MCOT TAM (thus the remainder of the A-ECG market) to the firm, allowing IRTC to address 100% of physician A-ECG needs over time. While the real-time segment of the A-ECG market represents an incremental addition to IRTC’s currently addressable TAM, we see the real value of this offering to be implicit in iRhythm’s ability to become a full-line supplier for its customers, targeting both first- and second-line A-ECG monitoring (currently Zio targets only first-line), as well as expansion into new indications such as post-AF ablation, post-cardiac surgery and post- ischemic stroke. In sum, we continue to see the potential for material upside to forward estimates, as IRTC is still early in its campaign to drive a paradigm change in the ambulatory ECG monitoring space. Further, we expect the firm’s vast competitive moat – consisting of substantial clinical data, proprietary back-end analytics and robust IP – as supportive of sustainable (20%+-type) growth for several years to come." (6/6/2017)

Are investors shorting IRHYTHM TECH?

IRHYTHM TECH saw a increase in short interest in the month of July. As of July 14th, there was short interest totalling 1,774,937 shares, an increase of 33.4% from the June 30th total of 1,330,514 shares. Based on an average trading volume of 198,072 shares, the short-interest ratio is presently 9.0 days. Currently, 11.1% of the company's stock are short sold.

Who are some of IRHYTHM TECH's key competitors?

Who are IRHYTHM TECH's key executives?

IRHYTHM TECH's management team includes the folowing people:

  • Abhijit Y. Talwalkar, Independent Chairman of the Board
  • Kevin M. King, President, Chief Executive Officer, Director
  • Matthew C. Garrett, Chief Financial Officer
  • David A. Vort, Executive Vice President of Sales
  • Derrick Sung Ph.D., Executive Vice President - Strategy and Corporate Development
  • Bruce G. Bodaken, Director
  • Ralph Snyderman M.D., Director
  • Vijay K. Lathi, Independent Director
  • Mark J. Rubash, Independent Director
  • Raymond W. Scott, Independent Director

When did IRHYTHM TECH IPO?

(IRTC) raised $76 million in an initial public offering on Thursday, October 20th 2016. The company issued 5,400,000 shares at a price of $13.00-$15.00 per share. J.P. Morgan and Morgan Stanley served as the underwriters for the IPO and Canaccord Genuity and BTIG were co-managers.

Who owns IRHYTHM TECH stock?

IRHYTHM TECH's stock is owned by a number of of institutional and retail investors. Top institutional investors include Capital Research Global Investors (10.56%), FMR LLC (6.90%), Franklin Resources Inc. (4.96%), TimesSquare Capital Management LLC (4.74%), Alliancebernstein L.P. (3.95%) and Bank of New York Mellon Corp (2.73%). Company insiders that own IRHYTHM TECH stock include Kevin M King, Matthew C Garrett, Raymond W Scott, Synergy Life Science Partners and Vijay K Lathi. View Institutional Ownership Trends for IRHYTHM TECH.

Who sold IRHYTHM TECH stock? Who is selling IRHYTHM TECH stock?

IRHYTHM TECH's stock was sold by a variety of institutional investors in the last quarter, including Goldman Sachs Group Inc., Ameriprise Financial Inc., Spark Investment Management LLC, Lebenthal Lisanti Capital Growth LLC, JPMorgan Chase & Co., Lazard Asset Management LLC and Jennison Associates LLC. Company insiders that have sold IRHYTHM TECH stock in the last year include Kevin M King, Matthew C Garrett, Raymond W Scott, Synergy Life Science Partners and Vijay K Lathi. View Insider Buying and Selling for IRHYTHM TECH.

Who bought IRHYTHM TECH stock? Who is buying IRHYTHM TECH stock?

IRHYTHM TECH's stock was bought by a variety of institutional investors in the last quarter, including FMR LLC, Capital Research Global Investors, Alliancebernstein L.P., Bank of New York Mellon Corp, Marshall Wace North America L.P., Redmile Group LLC, TimesSquare Capital Management LLC and Summit Partners Public Asset Management LLC. View Insider Buying and Selling for IRHYTHM TECH.

How do I buy IRHYTHM TECH stock?

Shares of IRHYTHM TECH can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

What is IRHYTHM TECH's stock price today?

One share of IRHYTHM TECH stock can currently be purchased for approximately $43.85.


MarketBeat Community Rating for IRHYTHM TECH (NASDAQ IRTC)
Community Ranking:  2.6 out of 5 ( )
Outperform Votes:  42 (Vote Outperform)
Underperform Votes:  40 (Vote Underperform)
Total Votes:  82
MarketBeat's community ratings are surveys of what our community members think about IRHYTHM TECH and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.

Analyst Ratings

Consensus Ratings for IRHYTHM TECH (NASDAQ:IRTC) (How are Consensus Ratings Calculated?)
Ratings Breakdown: 1 Hold Rating, 3 Buy Ratings
Consensus Rating:Buy (Score: 2.75)
Consensus Price Target: $37.75 (13.91% downside)

Analysts' Ratings History for IRHYTHM TECH (NASDAQ:IRTC)
Show:
DateFirmActionRatingPrice TargetImpact on Share PriceDetails
6/6/2017Canaccord GenuityReiterated RatingBuy$42.00MediumView Rating Details
6/6/2017Morgan StanleyBoost Price TargetOverweight$43.00 -> $47.00HighView Rating Details
12/6/2016BTIG ResearchDowngradeBuy -> NeutralN/AView Rating Details
11/14/2016J P Morgan Chase & CoInitiated CoverageOverweight$34.00N/AView Rating Details
(Data available from 8/18/2015 forward)

Earnings

Earnings History for IRHYTHM TECH (NASDAQ:IRTC)
Earnings by Quarter for IRHYTHM TECH (NASDAQ:IRTC)
Earnings History by Quarter for IRHYTHM TECH (NASDAQ IRTC)
DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallDetails
12/4/2017        
8/2/2017Q2 2017($0.31)($0.29)$22.10 million$23.85 millionViewListenView Earnings Details
5/3/2017Q1 2017($0.36)($0.24)$19.13 million$21.40 millionViewListenView Earnings Details
2/15/2017Q416($0.28)($0.37)$17.33 million$18.70 millionViewListenView Earnings Details
12/5/2016Q3 2016($0.27)($2.80)$16.52 million$16.80 millionViewListenView Earnings Details
(Data available from 1/1/2011 forward)

Estimates

Earnings Estimates for IRHYTHM TECH (NASDAQ:IRTC)
Current Year EPS Consensus Estimate: $-1.16 EPS
Next Year EPS Consensus Estimate: $-0.63 EPS

Dividends

Dividend History for IRHYTHM TECH (NASDAQ:IRTC)
No dividend announcements for this company have been tracked by MarketBeat.com

Insider Trades

Insider Trading and Institutional Ownership History for IRHYTHM TECH (NASDAQ:IRTC)
Insider Ownership Percentage: 23.30%
Institutional Ownership Percentage: 64.55%
Insider Trades by Quarter for IRHYTHM TECH (NASDAQ:IRTC)
Institutional Ownership by Quarter for IRHYTHM TECH (NASDAQ:IRTC)
Insider Trades by Quarter for IRHYTHM TECH (NASDAQ:IRTC)
Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionDetails
8/7/2017Raymond W. ScottDirectorSell52,903$43.59$2,306,041.77View SEC Filing  
7/11/2017Kevin M. KingInsiderSell110,000$42.08$4,628,800.00View SEC Filing  
7/10/2017Matthew C. GarrettCFOSell25,086$42.06$1,055,117.16View SEC Filing  
6/8/2017Synergy Life Science PartnersMajor ShareholderSell350,000$37.43$13,100,500.00View SEC Filing  
6/8/2017Vijay K LathiDirectorSell430,624$37.59$16,187,156.16View SEC Filing  
5/16/2017Vijay K LathiDirectorSell645,000$34.70$22,381,500.00View SEC Filing  
(Data available from 1/1/2013 forward)

Headlines

Headline Trends for IRHYTHM TECH (NASDAQ:IRTC)
Latest Headlines for IRHYTHM TECH (NASDAQ:IRTC)
Source:
DateHeadline
americanbankingnews.com logoIRHYTHM TECH (NASDAQ:IRTC) Director Raymond W. Scott Sells 52,903 Shares
www.americanbankingnews.com - August 8 at 7:24 PM
americanbankingnews.com logoIrhythm Tech (IRTC) Posts Quarterly Earnings Results, Meets Expectations
www.americanbankingnews.com - August 3 at 12:44 AM
seekingalpha.com logoiRhythm Technologies' (IRTC) CEO Kevin King on Q2 2017 Results - Earnings Call Transcript
seekingalpha.com - August 2 at 11:58 PM
finance.yahoo.com logoiRhythm Technologies Announces Second Quarter 2017 Financial Results
finance.yahoo.com - August 2 at 11:58 PM
americanbankingnews.com logoIrhythm Tech (NASDAQ:IRTC) Sees Large Increase in Short Interest
www.americanbankingnews.com - July 29 at 7:10 AM
americanbankingnews.com logoIrhythm Tech (NASDAQ:IRTC) to Release Earnings on Wednesday
www.americanbankingnews.com - July 27 at 12:39 PM
americanbankingnews.com logo Irhythm Tech (NASDAQ:IRTC) Given Average Recommendation of "Strong Buy" by Brokerages
www.americanbankingnews.com - July 21 at 8:12 AM
finance.yahoo.com logoiRhythm Technologies to Report Second Quarter 2017 Financial Results on August 2, 2017
finance.yahoo.com - July 19 at 10:23 PM
americanbankingnews.com logoIrhythm Tech (NASDAQ:IRTC) Short Interest Update
www.americanbankingnews.com - July 16 at 7:23 AM
americanbankingnews.com logoKevin M. King Sells 110,000 Shares of Irhythm Tech (IRTC) Stock
www.americanbankingnews.com - July 12 at 5:02 PM
americanbankingnews.com logoMatthew C. Garrett Sells 25,086 Shares of Irhythm Tech (IRTC) Stock
www.americanbankingnews.com - July 12 at 5:02 PM
finance.yahoo.com logoETFs with exposure to iRhythm Technologies, Inc. : July 10, 2017
finance.yahoo.com - July 10 at 7:56 PM
finance.yahoo.com logoResearch Collaboration Demonstrates Use of Deep Learning to Develop Expert Level Comprehensive Cardiac Arrhythmia Detection Algorithm
finance.yahoo.com - July 10 at 7:56 PM
americanbankingnews.com logoZacks: Irhythm Tech (IRTC) Given Consensus Rating of "Strong Buy" by Analysts
www.americanbankingnews.com - June 29 at 10:48 AM
finance.yahoo.com logoETFs with exposure to iRhythm Technologies, Inc. : June 26, 2017
finance.yahoo.com - June 26 at 7:48 PM
finance.yahoo.com logoNew Expert Statement Recognizes Patch Monitors Such as Zio by iRhythm as Effective for Atrial Fibrillation Monitoring Post-Ablation
finance.yahoo.com - June 21 at 3:42 PM
finance.yahoo.com logoiRhythm Technologies, Inc. :IRTC-US: Earnings Analysis: Q1, 2017 By the Numbers : June 15, 2017
finance.yahoo.com - June 16 at 6:16 AM
finance.yahoo.com logoETFs with exposure to iRhythm Technologies, Inc. : June 15, 2017
finance.yahoo.com - June 16 at 6:16 AM
americanbankingnews.com logoZacks: Irhythm Tech (IRTC) Receives Consensus Recommendation of "Strong Buy" from Brokerages
www.americanbankingnews.com - June 14 at 6:44 PM
americanbankingnews.com logoInsider Selling: Irhythm Technologies Inc (IRTC) Major Shareholder Sells 350,000 Shares of Stock
www.americanbankingnews.com - June 9 at 10:08 PM
americanbankingnews.com logoIrhythm Technologies Inc (IRTC) Director Vijay K. Lathi Sells 430,624 Shares
www.americanbankingnews.com - June 8 at 7:12 PM
americanbankingnews.com logoIrhythm Technologies Inc (IRTC) Earns Buy Rating from Canaccord Genuity
www.americanbankingnews.com - June 6 at 4:20 PM
americanbankingnews.com logoIrhythm Technologies' (IRTC) "Overweight" Rating Reiterated at Morgan Stanley
www.americanbankingnews.com - June 6 at 9:51 AM
finance.yahoo.com logoiRhythm Technologies, Inc. breached its 50 day moving average in a Bullish Manner : IRTC-US : June 2, 2017
finance.yahoo.com - June 2 at 7:25 PM
americanbankingnews.com logoZacks: Irhythm Technologies Inc (IRTC) Given Average Recommendation of "Strong Buy" by Analysts
www.americanbankingnews.com - May 30 at 8:33 PM
americanbankingnews.com logoIrhythm Technologies Inc (IRTC) Receives Buy Rating from Canaccord Genuity
www.americanbankingnews.com - May 29 at 4:02 PM
finance.yahoo.com logoNew Study Confirms Extended Continuous Cardiac Monitoring is More Efficient than Holter Monitoring for Cryptogenic Stroke Patients
finance.yahoo.com - May 18 at 9:16 AM
finance.yahoo.com logoiRhythm Technologies, Inc. breached its 50 day moving average in a Bullish Manner : IRTC-US : May 17, 2017
finance.yahoo.com - May 17 at 9:54 AM
americanbankingnews.com logoIrhythm Technologies Inc (IRTC) Director Sells $22,381,500.00 in Stock
www.americanbankingnews.com - May 16 at 7:14 PM
americanbankingnews.com logoIrhythm Technologies Inc (IRTC) Short Interest Down 25.4% in April
www.americanbankingnews.com - May 13 at 8:44 AM
americanbankingnews.com logoCanaccord Genuity Reaffirms Buy Rating for Irhythm Technologies Inc (IRTC)
www.americanbankingnews.com - May 7 at 10:02 AM
americanbankingnews.com logoBrokerages Expect Irhythm Technologies Inc (IRTC) to Post ($0.28) EPS
www.americanbankingnews.com - May 5 at 12:37 PM
seekingalpha.com logoiRhythm Technologies' (IRTC) CEO Kevin King on Q1 2017 Results - Earnings Call Transcript
seekingalpha.com - May 4 at 6:10 PM
finance.yahoo.com logoETFs with exposure to iRhythm Technologies, Inc. : May 4, 2017
finance.yahoo.com - May 4 at 6:10 PM
finance.yahoo.com logoiRhythm Technologies, Inc. – Value Analysis (NASDAQ:IRTC) : May 4, 2017
finance.yahoo.com - May 4 at 6:10 PM
finance.yahoo.com logoInvestor Network: iRhythm Technologies, Inc. to Host Earnings Call
finance.yahoo.com - May 4 at 11:30 AM
americanbankingnews.com logoIrhythm Technologies Inc (IRTC) Posts Earnings Results
www.americanbankingnews.com - May 4 at 1:34 AM
americanbankingnews.com logoIrhythm Technologies Inc (IRTC) Issues Quarterly Earnings Results, Beats Expectations By $0.12 EPS
www.americanbankingnews.com - May 4 at 1:10 AM
finance.yahoo.com logoiRhythm Technologies, Inc. breached its 50 day moving average in a Bullish Manner : IRTC-US : May 3, 2017
finance.yahoo.com - May 3 at 10:45 PM
finance.yahoo.com logoiRhythm Technologies Announces First Quarter 2017 Financial Results
finance.yahoo.com - May 3 at 10:45 PM
americanbankingnews.com logoIrhythm Technologies Inc (IRTC) Rating Increased to Hold at Zacks Investment Research
www.americanbankingnews.com - April 23 at 10:34 PM
americanbankingnews.com logo Irhythm Technologies Inc (IRTC) Receives Average Rating of "Strong Buy" from Brokerages
www.americanbankingnews.com - April 20 at 8:48 PM
finance.yahoo.com logoiRhythm Technologies to Report First Quarter 2017 Financial Results on May 3, 2017
finance.yahoo.com - April 19 at 5:52 PM
americanbankingnews.com logoCanaccord Genuity Reiterates Buy Rating for Irhythm Technologies Inc (IRTC)
www.americanbankingnews.com - April 14 at 7:42 AM
finance.yahoo.com logoiRhythm Technologies, Inc. breached its 50 day moving average in a Bearish Manner : IRTC-US : April 13, 2017
finance.yahoo.com - April 13 at 9:24 AM
finance.yahoo.com logoTrump Amending AHCA: Is the Medical Device Space Anxious?
finance.yahoo.com - April 13 at 12:04 AM
americanbankingnews.com logoIrhythm Technologies Inc's (IRTC) Lock-Up Period To Expire on April 18th
www.americanbankingnews.com - April 11 at 8:57 AM
finance.yahoo.com logoZio by iRhythm Gains Further Recognition as Key Diagnostic Cardiac Monitoring System by US and UK Health Organizations
finance.yahoo.com - April 10 at 10:59 AM
seekingalpha.com logoIRhythm Technologies: Potential Short With Attractive Risk/Reward At Current Levels
seekingalpha.com - April 7 at 10:50 PM
finance.yahoo.com logoiRhythm Technologies, Inc. :IRTC-US: Earnings Analysis: 2016 By the Numbers : April 4, 2017
finance.yahoo.com - April 7 at 10:29 AM

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Chart

IRHYTHM TECH (IRTC) Chart for Friday, August, 18, 2017

This page was last updated on 8/18/2017 by MarketBeat.com Staff