U.S. Markets closed

iRhythm Technologies, Inc. (IRTC)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
Add to watchlist
233.86+10.50 (+4.70%)
At close: 1:00PM EST
Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Neutralpattern detected
Previous Close223.36
Open225.87
Bid227.00 x 1100
Ask266.00 x 1800
Day's Range225.87 - 234.12
52 Week Range56.54 - 274.21
Volume107,732
Avg. Volume288,369
Market Cap6.752B
Beta (5Y Monthly)1.77
PE Ratio (TTM)N/A
EPS (TTM)-1.89
Earnings DateFeb 25, 2021 - Mar 01, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est262.13
  • Zio by iRhythm Detects Previously Undiagnosed Atrial Fibrillation and Helps to Prevent Hospitalizations, Stroke, and Death as a Result
    GlobeNewswire

    Zio by iRhythm Detects Previously Undiagnosed Atrial Fibrillation and Helps to Prevent Hospitalizations, Stroke, and Death as a Result

    * Three-Year Study Results Presented at 2020 American Heart Association Scientific Sessions * Zio Supports Better Healthcare Utilization Rates and Patient Outcomes With Ambulatory Cardiac MonitoringSAN FRANCISCO, Nov. 16, 2020 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital health care solutions company focused on the advancement of cardiac care, today announced the three-year clinical outcomes of the mHealth Screening to Prevent Strokes (mSToPS) study.The study evaluated the detection of silent, or previously undiagnosed, atrial fibrillation (AF) in moderate-risk individuals using the FDA-cleared Zio by iRhythm ambulatory monitoring patch. This study is the first siteless, nationwide study of its kind and was led by researchers at the Scripps Research Translational Institute, in partnership with collaborators, Aetna and Janssen Pharmaceuticals.The study aimed to determine if participant-generated data available through a wearable ECG patch could improve the identification of AF relative to routine care and to determine if screening for AF by wearing Zio could improve clinical outcomes at three years after the initiation of screening. mSToPS evaluated the time to this first serious cardiac event, including stroke, systemic embolism, myocardial infarction, or death, via claims and Aetna membership data.At the end of three years after the initial onset of monitoring: * AF was newly diagnosed in 11.4% of those actively monitored with Zio versus only 7.7% of the control group (a statistically significant 48% improvement). * The trial found the incidence rate of a cardiac event (stroke, myocardial infarction, systemic embolism, or death) was 8.4 per 100 person-years in people diagnosed with AF who underwent active monitoring, compared to the control group incidence rate of 13.8 per 100 person-years (a statistically significant improvement). This data demonstrates Zio’s detection of AF in moderate-risk patients supported the prevention of serious cardiac events after diagnosis. * Active monitoring with Zio also led to fewer hospitalizations for bleeding, the primary safety endpoint for the study (incidence rate of 0.32 per 100 person-years versus 0.71 per 100 person-years). * Active monitoring also led to fewer total hospitalizations (12.9 versus 18.9 per 100 person-years).Ultimately, the mSToPS study found that active screening for AF, as part of a prospective, pragmatic, direct-to-participant and nationwide study, was associated with a significant improvement in clinical outcomes and safety at three years relative to routine care. Through research like mSToPS, Zio has been demonstrated to help clinicians detect AF earlier, especially in instances when routine care may not.The lifetime risk of developing AF is nearly 40%1 for adults over age 55, the monitored demographic in this study. For many individuals, AF is undiagnosed until the time of stroke2 or another serious cardiac event. The American Heart Association published estimates that the annual costs of stroke will nearly double3 by 2030. Early detection of AF lowers the overall rates of cardiac incidents and hospitalizations, and the detection of silent or undiagnosed AF can greatly reduce the cost of healthcare resource utilization and improve patient care.“Through clinical validation with studies like mSToPS, iRhythm demonstrates the importance of shifting to preventative and more proactive care to catch undiagnosed atrial fibrillation and improve the lives of millions of people,” said Kevin King, CEO of iRhythm. “Zio also helps decrease costs associated with increased healthcare utilization and more significant, potentially life-threatening clinical events. At iRhythm, we are helping to create a new standard of patient care.”“The three-year results support the clinical value of early screening and targeted detection in moderate-risk populations,” said Steven Steinhubl, MD, Director of Digital Medicine at Scripps Research Translational Institute and principal investigator of the study. “The study validates continued research into how to best monitor high-risk populations and confirms the value in discovering ways we can detect previously undiagnosed AF. It underscores the value of detecting AF as soon as possible to produce better patient outcomes.”These results were presented at the American Heart Association’s 2020 virtual Scientific Sessions on November 16 at 9:21 a.m. CT by Dr. Steven Steinhubl of the Scripps Research Translational Institute.About Atrial Fibrillation Atrial fibrillation (AF or AFib) is a quivering or irregular heartbeat, also known as an arrhythmia, which can lead to blood clots, stroke, heart failure, and other heart-related complications. Normally, your heart contracts and relaxes to a regular beat. In AF, the upper chambers of the heart (the atria) beat irregularly instead of beating effectively to move blood into the ventricles.iRhythm estimates more than 10 million Americans are at high risk for AF. With the aging of the U.S. population, this number is expected to increase. AF is associated with a five-fold increase4 in the risk of stroke, with these strokes tending to be more severe and are associated with higher mortality. However, approximately one-third5 of those who have AF are not aware that they have it.For the approximately 20% to 50%6 of individuals who experience a stroke due to AF, the occurrence of AF was not diagnosed until the time of their stroke or shortly afterward. Asymptomatic or undiagnosed AF is referred to as being “silent” and there are certain risk factors like high blood pressure, diabetes, and asthma that increase an individual’s likelihood of developing it.About the mHealth Screening to Prevent Strokes (mSToPS) Study Researchers at the Scripps Translational Science Institute conducted the study in partnership with collaborators, Aetna and Janssen Pharmaceuticals. The innovative study design demonstrated that the digital solution enabled by Zio effectively monitored a large and geographically dispersed population of patients who had risk factors for AF.The study involved 5,214 eligible Aetna members who were identified through claims data to have risk factors for AF but had not been previously diagnosed. 1,738 individuals were enrolled via a web-based platform to undergo either immediate or delayed active ECG monitoring at home for up to four weeks with a Zio XT patch monitor (two-week monitoring periods spaced four months apart). Each monitored participant was matched with two non-monitored participants with a similar CHA2DS2-VASc, a standardized stroke-risk assessment score, to act as controls. The study looked at the time to first diagnosis of AF and its clinical consequences for the active monitoring cohort as well as the cohort undergoing usual care.About Dr. Steven Steinhubl, MD Dr. Steven Steinhubl is Director of Digital Medicine at Scripps Research Translational Institute and a cardiologist at Alaska Native Tribal Health Consortium. He received his undergraduate training in Chemical Engineering at Purdue University in Indiana, graduate training in Physiology at Georgetown University in Washington, DC, and his medical degree at St. Louis University in Missouri. Dr. Steinhubl’s internal medicine residency training was completed at David Grant Medical Center at Travis Air Force Base, California. Following residency, he was a staff internist at Elmendorf Air Force Base Hospital in Anchorage, Alaska. His cardiology and interventional cardiology fellowships were at the Cleveland Clinic Foundation where he was also chief cardiology fellow. Prior to joining the Translational Institute, Dr. Steinhubl was Director of Cardiovascular Wellness and the Medical Director for Employee Wellness for the Geisinger Healthcare System. He was also the Cardiology Fellowship Director, a clinician-scientist, and a staff cardiologist there. Dr. Steinhubl has been active in clinical research for almost 20 years and has been the principal investigator of dozens of national and international trials and has published over 270 peer-reviewed manuscripts.About iRhythm Technologies, Inc. iRhythm is a leading digital health care company redefining the way cardiac arrhythmias are clinically diagnosed. The company combines wearable biosensor devices worn for up to 14 days and cloud-based data analytics with powerful proprietary algorithms that distill data from millions of heartbeats into clinically actionable information. The company believes improvements in arrhythmia detection and characterization have the potential to change the clinical management of patients.Investor Relations Contact: Leigh Salvo (415) 937-5404 investors@irhythmtech.comMedia Contact: Saige Smith (262) 289-7065 irhythm@highwirepr.com______________________________ 1 Weng LC. Circulation. 2018;137:1027-1038. 2 Jaakkola J. PLoS ONE 2016;11:e0168010. 3 Ovbiagele B. Stroke. 2013;doi:10.1161/STR.0b013e31829734f2. 4 Wolf PA, Abbott RD, Kannel WB. Atrial fibrillation as an independent risk factor for stroke: the Framingham Study. Stroke. 1991;22(8):983–8. 5 Friberg L, Rosenqvist M, Lindgren A, Terént A, Norrving B, Asplund K. High prevalence of atrial fibrillation among patients with ischemic stroke. Stroke 2014;45:2599-605. 6 Lin HJ, Wolf PA, Benjamin EJ, Belanger AJ, D’Agostino RB.  Newly diagnosed atrial fibrillation and acute stroke: the Framingham Study.  Stroke. 1995;26(9):1527-1530.

  • 7 Telehealth Stocks To Buy Ahead Of Flu Season
    InvestorPlace

    7 Telehealth Stocks To Buy Ahead Of Flu Season

    The future of telehealth stocks looks bright. This is an emerging sector that saw growth catalyzed by the novel coronavirus pandemic. That isn’t to say this sector’s growth hasn’t been hard-earned after years, even decades in the making. But like the remote work industry, telehealth and telemedicine have certainly received a shot in the arm this year. And with flu season imminent, there’s even more reason to seriously consider these stocks. In fact, according to one report, telemedicine should account for 20% of all medical visits in 2020. The value of those visits was estimated at more than $29.3 billion. And while the pandemic has provided a short-term boost, the long-term picture looks similarly bright for telemedicine. Importantly, telemedicine is then projected to rise to $106 billion in value by 2023. That alone should allay investor fear that growth will subside in the wake of the coronavirus pandemic. InvestorPlace - Stock Market News, Stock Advice & Trading Tips It also suggests a compound annual growth rate of 53.5%. Therefore, it should surprise no one that investors are keen to learn more about securities within this sector. 7 Retail Stocks That Will Benefit From 2020’s Holiday Shopping Season Here are 7 telehealth stocks to buy ahead of flu season:  Global X Telemedicine & Digital Health ETF (NASDAQ:EDOC) Teladoc (NYSE:TDOC) iRhythm Technologies (NASDAQ:IRTC) GoodRX Holdings (NASDAQ:GDRX) Humana (NYSE:HUM) Castlight Health (NYSE:CSLT) American Well (NYSE:AMWL) Growth in telehealth will be further tested by the upcoming flu season. Telehealth companies can expect an uptick in users in the fall and winter months this year as pandemic worries will cause a decline in face-to-face visits. Telehealth Stocks To Buy: Global X Telemedicine & Digital Health ETF (EDOC) Source: fizkes/ShutterStock.com As an ETF comprising multiple holdings, EDOC stock is a safer way to invest in telehealth than individual stocks. EDOC attempts to match the performance of the Solactive Telemedicine & Digital Health Index. This is a very new stock, having been listed in late July. Prices have risen from $15.57 to $17.87 since then, and it should be a solid play on overall sector growth. The biggest holding in this ETF is a company called iRhythm Technologies, covered later in this article. Therefore EDOC stock has proved 14.77% returns in its short life, which should be considered a good thing. As I mentioned it has been flat since it was listed in late July. Investors could also consider this a positive in that EDOC is representative of an emerging sector pegged for growth. Since we’ve already seen that CAGR is projected to be strong through 2023, this looks like a safe play on that theme.  Again, the soon to be arriving flu season provides impetus for a surge in telehealth revenues which should bolster stocks within this particular ETF. Teladoc (TDOC) Source: Piotr Swat / Shutterstock.com Teladoc allows users to download its app, fill their medical history and get help in minutes. This is the general promise of telehealth across the industry. Teladoc isn’t unique from that perspective. But, Teladoc has been in the game since it was listed in 2015. This is an established leader in the telehealth space. In fact, investors who bought in at the IPO have seen their money grow by 556% if they held their equity until now.  The company has been sending mixed signals lately. There is positive, in that the pandemic has provided a boost to revenues per its 3Q earnings report. Year-over-year, revenues more than doubled in Q3 from $137 million to $288 million. But the company is still losing money — albeit at a lower rate than last year. Teladoc showed a net loss of $79.8 million through the first three quarters of 2019. It just reported a net loss of $91 million through the first three quarters of 2020. Remember, revenues have more than doubled.  This suggests that TDOC stock actually represents increasing efficiency, although still losing money. And even though it has been bumpy, increased operational efficiency is a good sign. The stock also recently fell following its merger with Livongo. 7 Retail Stocks That Will Benefit From 2020’s Holiday Shopping Season Stock mergers often see this scenario play out due to fears about transition leading to inefficiency. This could well be the case with Teladoc. If this is true, TDOC could rise as the kinks are worked out. It’ll be volatile into the future but it is a leader in this rapidly growing industry. Similar stocks tend to work out their issues, and rise with industry trends.  iRhythm Technologies (IRTC) Source: Shutterstock iRhythm Technologies focuses on cardiac monitoring, without the need for an office visit. The company’s home enrollment service allows it to send a cardiac monitor to a patient’s home for self-application. Patients’ monitors then relay data to the company which is particularly valuable in our current situation. But even under normal circumstances, the hassle of traveling to a clinic is a step patients want to eliminate.   Cardiac arrhythmias are one of many conditions which can become exacerbated by the influenza virus. And this should mean more opportunity for IRTC stock to provide its products this flu season.  Analysts are highly positive on IRTC stock, with 8 buy ratings and 2 holds. The company’s recent Q3 earnings reflect some of that optimism. The company maintains a very high margin on its products, recording gross profits for Q3 of $53.7 million on 74.7% gross margin. That gross margin is similar to that which the company posted in the same quarter of 2019. Meanwhile, the revenue difference is attributable to the pandemic leading to an uptick in volume. This news is important as the company is fast approaching profitability. IRTC lost $4.7 million in Q3 2020, but that’s far less than the $18.3 million in Q3 2019. If the company continues along its present trajectory, those margins will soon lead to excellent profits. To me, it looks like this company is quickly closing the gap on operational net losses. It has a very profitable product in a growing sector. Those are broad measures that provide a lot of tailwind for ITRC stock to really run higher.  GoodRx (GDRX)  Source: II.studio / Shutterstock.com GoodRx is a 5 year old company that recently went public on September 23. The company is so young that investors don’t have much with which to judge it. GDRX will release its upcoming first earnings report on November 12. That said we can look back to its Form S-1 registration statement to learn about the company.  The company operates at the intersection of healthcare savings and telehealth. Its investor presentation highlights the fact that Americans spend double what other OECD country members spend per capita on healthcare. It also notes the striking fact that 66% of all personal bankruptcies are due to medical costs (Page 6).  Its telehealth digital platform claims to have saved users $20 billion plus throughout its existence. Primarily it is working to lower the prices of prescriptions via increased access to prescription choices.  The market will know more about the company’s financials following its upcoming earnings release. But investors can reference similar information about its past performance. The company’s revenue growth and EBITDA growth have been strong from 2016 through 2019. Its revenue CAGR was 57% during that period, and its EBITDA CAGR was an even higher 75% (Page 28). 7 Retail Stocks That Will Benefit From 2020’s Holiday Shopping Season That kind of growth in a highly profitable sector like telemedicine bodes well for GoodRx. Combine that with social distancing, flu season and customer savings, and GDRX looks like a winner.  Humana (HUM) Humana is a highly profitable medical insurance company. And when it comes to telemedicine the company is working on several fronts. The company waived out-of-pocket expenses for telehealth services through 2020. Ultimately, this will lead to reduced revenues, though it has the effect of increasing goodwill. But I also believe it has a further positive effect which will help Humana. That is, it stands to increase telehealth volume due to waived fees. While this may cost in terms of lost revenues, it benefits the company in increased data and experience. Companies benefit greatly from those two things. Humana will learn a lot more about its own services (and its customers) due to increased volume. Of course, more volume leads to more data. So while the short-term ding to revenues isn’t great, the value in voluntarily doing so may prove much more valuable in the longer term. That’s smart strategy if you ask me. The company also invested $100 million in telehealth start-up, Heal. Heal allows users to schedule in-home visits with doctors, bringing the doctor to the patient. This is a slight twist to the more common screen-to-screen model. And that might be why investors are interested in Humana. While Humana has less growth potential than some of the other stocks on this list, it makes up for it with more stability. And analysts give it a price target as high as $540, leaving a lot of growth from its current $422 price. If it can leverage the telehealth factors I mentioned, there’s every chance that possibility becomes reality. Castlight Health (CSLT) Source: Shutterstock Castlight Health represents a few things which are inherently volatile and fraught with risk. First, it’s technically a penny stock given its current $1.02 share price. Secondly, it is deeply undervalued. In fact, so undervalued that some consider it a value trap All this really means is that while the company should be trading much higher, it isn’t. Unfortunately it .also suggests that investors may never change their minds. Thus, no price appreciation, and not a good investment. I’ll concede that all of these may well turn out to be true. But employers may also soon be looking for companies that serve the market as Castlight Health does. Investors will seek out Castlight if and when that happens. And the stock price will rise from its cheap current levels. What the company does is allow employers to connect all their health, wellness and benefits vendors in one place. Employers are also participants in the health care system in America which is fraught with high prices. This is something we often forget. Companies also desperately want to find ways to reduce costs associated therewith. And cost savings can add up quickly with a single health benefit vendor, this can multiply across the myriad vendors an employer must deal with. That’s where Castlight Health comes in. 7 Retail Stocks That Will Benefit From 2020’s Holiday Shopping Season Consider it for those reasons, but also remember that it may never gain the recognition its fundamentals suggest it should. American Well (AMWL) Source: Stephanie L Sanchez / Shutterstock.com Also known as AmWell, AMWL stock is a young equity, having had its IPO in September. Stock prices rose from $23.07 at the September 17 launch to nearly $39 by October 7. It dropped all the way down to $25.10 by November 2, then rose to $30.41 four days later. The point is that this is a young, volatile play on telehealth. Yet the company also has clout behind giving it extra attractiveness. Importantly, AmWell has partnered with Google (NASDAQ:GOOG,GOOGL) to leverage its Cloud architecture. That is of course a reason to consider AmWell in and of itself. And AmWell does have a broad variety of solutions in telehealth which it seems to be able to operate well.  To that end, AmWell was recently ranked the number 1 telehealth provider by BusinessInsider. Direct to consumer companies like AmWell will dominate telehealth as consumers see that there are ways to reduce prices and cut out the middle man.  On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article.  More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets The post 7 Telehealth Stocks To Buy Ahead Of Flu Season appeared first on InvestorPlace.

  • iRhythm Technologies Announces Data from mSToPS Clinical Trial to be Presented in a Late-Breaking Scientific Session at American Heart Association 2020
    GlobeNewswire

    iRhythm Technologies Announces Data from mSToPS Clinical Trial to be Presented in a Late-Breaking Scientific Session at American Heart Association 2020

    iRhythm to Host Webcast to Discuss Outcomes on Monday, November 16, 2020SAN FRANCISCO, Nov. 13, 2020 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ: IRTC), a leading digital health care solutions company focused on the advancement of cardiac care, today announced that 3-year clinical outcomes in a nationwide, randomized, pragmatic clinical trial of atrial fibrillation screening – Mhealth Screening to Prevent Strokes (mSToPS) – will be presented at the 2020 American Heart Association (AHA) Scientific Sessions. Presentation DetailsTitle: 3-year Clinical Outcomes in a Nationwide, Randomized, Pragmatic Clinical Trial of Atrial Fibrillation Screening - Mhealth Screening to Prevent Strokes (mSToPS)Presenter: Steven Steinhubl, MD, Scripps Research Translational InstituteSession: To Screen or Not to Screen, and then What? Studies of Detection and Treatment of AFDate/Time: Monday, November 16, 2020 at 9:21-9:29 a.m. CTThe above presentation will be available to conference registrants for viewing online at the AHA Scientific Sessions’ Virtual Platform at https://professional.heart.org/es/meetings/scientific-sessions.  iRhythm Technologies Webcast Information iRhythm Technologies will host a webcast at 2:00 p.m. PT/5:00 p.m ET on Monday, November 16, 2020 to coincide with the 2020 AHA Scientific Sessions. Investors interested in listening to the webcast may do so by accessing the webcast on the “Investors” section of the company’s website at: www.irhythmtech.com.About the mSToPS Study Researchers at the Scripps Translational Science Institute (STSI) conducted the study in partnership with collaborators, Aetna and Janssen Pharmaceuticals. The innovative study design demonstrated that the digital solution enabled by Zio effectively monitored a large and geographically dispersed population of patients who had risk factors for AF. The study involved 5,214 eligible Aetna members who were identified through claims data to have risk factors for AF but had not been previously diagnosed. 1,738 individuals were enrolled via a web-based platform to undergo either immediate or delayed active ECG monitoring at home for up to 4 weeks with a Zio XT patch monitor (two-week monitoring periods spaced four months apart). Each monitored participant was matched with two non-monitored participants with a similar CHA2DS2-VASc, a standardized stroke-risk assessment score, to act as controls. The study looked at the time to first diagnosis of AF and its clinical consequences for the active monitoring cohort as well as the cohort undergoing usual care.About iRhythm Technologies, Inc.  iRhythm is a leading digital health care company redefining the way cardiac arrhythmias are clinically diagnosed. The company combines wearable biosensor devices worn for up to 14 days and cloud-based data analytics with powerful proprietary algorithms that distill data from millions of heartbeats into clinically actionable information. The company believes improvements in arrhythmia detection and characterization have the potential to change clinical management of patients.Investor Relations Contact: Media Contact: Leigh Salvo Saige Smith (415) 937-5404 (262) 289-7065 investors@irhythmtech.com irhythm@highwirepr.com