IRTC

iRhythm Technologies Inc

Healthcare


Presented:02/05/2021
Price:$179.47
Cap:$5.18B
Current Price:$60.13
Cap:$1.88B

Presented

Date02/05/2021
Price$179.47
Market Cap$5.18B
Ent Value$6.48B
P/E RatioN/A
Book Value$11.59
Div Yield0%
Shares O/S28.87M
Ave Daily Vol601,110
Short Int17.27%

Current

Price$60.13
Market Cap$1.88B
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. The company was founded by Uday N. Kumar in September 2006 and is headquartered in San Francisco, CA.

Publicly traded companies mentioned herein: Berkshire Hathaway Inc (BRK/B; BRK/A), BioTelemetry Inc (BEAT), Boston Scientific Corporation (BSX), Hill-Rom Holdings Inc (HRC), iRhythm Technologies Inc (IRTC), Koninklijke Philips NV (PHG)

Highlights 

The presenter is short shares of iRhythm Technologies Inc (IRTC) based on the company’s issues surrounding its Medicare reimbursement rate. IRTC is a digital healthcare company that is focused on cardiac arrhythmias. The company produces extended holter monitors, which act as heart monitors in the form of a patch. IRTC’s main product, known as ZioXT, was commercially launched in 2011 and now makes up a majority of the company’s sales. When it was launched, ZioXT was an innovative product as it replaced standard holter monitors that require patients to wear electrodes and carry around a piece of hardware for up to 48 hours. With ZioXT, patients simply wear the patch for 7-14 days. The benefit of the patch is that it generates a higher diagnostic yield and can detect more types of arrhythmias. 

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