Irhythm Tech Company Profile (NASDAQ:IRTC)

Irhythm Tech trades on the NASDAQ under the ticker symbol "IRTC."

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

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

4 analysts have issued 1 year price objectives for Irhythm Tech's stock. 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 year. View Analyst Ratings for Irhythm Tech.

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)

Irhythm Tech saw a increase in short interest during 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 days-to-cover ratio is presently 9.0 days. Currently, 11.1% of the company's stock are sold short.

Some companies that are related to Irhythm Tech include Merit Medical Systems (MMSI), BAVARIAN NORDIC (BVNRY), Halyard Health (HYH), Horizon Pharma PLC (HZNP), Loxo Oncology (LOXO), Advanced Accelerator Applications S.A. (AAAP), NxStage Medical (NXTM), Omnicell (OMCL), Inogen (INGN), Myriad Genetics (MYGN), Magellan Health (MGLN), Aerie Pharmaceuticals (AERI), Blueprint Medicines Corporation (BPMC), AMN Healthcare Services (AMN), MiMedx Group (MDXG), Cambrex Corporation (CBM), Premier (PINC) and Teladoc (TDOC).

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

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

Irhythm Tech's stock is owned by many different 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.

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.

Irhythm Tech's stock was acquired 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.

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.

One share of Irhythm Tech stock can currently be purchased for approximately $44.91.