IRTC (Update)

iRhythm Technologies Inc

Healthcare


Presented:07/01/2021
Price:$63.75
Cap:$1.87B
Current Price:$60.13
Cap:$1.88B

Presented

Date07/01/2021
Price$63.75
Market Cap$1.87B
Ent Value$3.91B
P/E RatioN/A
Book Value$10.57
Div Yield0%
Shares O/S29.30M
Ave Daily Vol788,588
Short Int7.70%

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.

Please note, this is an update to iRhythm Technologies Inc (IRTC) - Short, which was first presented on 02/09/2021.

Publicly traded companies mentioned herein: Apple Inc (AAPL), Boston Scientific Corporation (BSX), Koninklijke Philips NV (PHG)

Highlights

The presenter is short shares of iRhythm Technologies Inc (IRTC) and sees 50% downside over the next 12 - 18 months. Over the next few weeks, we will get the CY’22 proposed physician CMS fee schedule from CMS and he expects we will get some clarity on the extended holter monitor becoming a permanent rate. This is largely expected, but there is a lot of debate around whether that will be 5% - 10% up or down from the rate that Novitas set, which is ~$115. His bias is toward the downside on that as he believes CMS is upset with the tactics that IRTC used and their tendency historically has been to undercut what the Medicare Administrative Contractors (MACs) have set.

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Idea Discussion

Commentor 1 - 2 weeks ago

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