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HeartBeam stock jumps amid heart monitor device patent

Yahoo Finance Live looks at cardiac technology company HeartBeam's stock after receiving a patent for a device in detecting heartbeat irregularities.

Video Transcript

[AUDIO LOGO]

[MUSIC PLAYING]

- It's time for "Triple Play," of the three stocks we're watching in the final 30 minutes of trading. We've got HeartBeam, Boeing, and Netflix on deck. So I'll start with my pick, which is HeartBeam-- take a peek-- as in "heartbeat." It's a cardiac technology company that focuses on telemedicine and one of our trending tickers on Yahoo Finance.

Now, the stock actually surging today. It's at the high-- it's at about 81% there. And that's on news that its patent for a 12-lead ECG patch monitor has been issued by the US Patent and Trade Office. Now this technology allows for faster and more accurate detection of heart-attack symptoms in real time for both patients and physicians. It also, of course, increases HeartBeam's intellectual property footprint in this space.

And we know this is part of a growing trend of more personalized health care to complement some of these more traditional health care facility settings. And of course, it makes it easier and more attractive for tech companies like your Amazons and your Apples to really expand their footprint into the telehealth space.

Now, BEAT shares, though, are down more than 30% year to date, though, of course, it is a cheaper stock at $2.00. But their CEO does expect this to be a $4 billion market. But we'll see where the newly appointed chief technology officer, Ken Persen, will take their strategy from here, Seana. So a long play indeed.

SEANA SMITH: Yeah, it could be a long play here. Certainly excitement around this deal. I think it just speaks to the fact about the excitement in telehealth, the growth prospect there, what we've seen over the last couple of years, and what that could potentially look like going out over the next five to ten years.