Irhythm Technologies Inc Stock Price, News & Analysis

iRhythm Technologies (NASDAQ:IRTC) announced leadership changes, appointing Brice Bobzien as Chief Financial Officer starting August 8, 2022, and Reyna Fernandez as Executive Vice President, Chief Human Resources Officer on July 25, 2022. Bobzien, previously at Dexcom, will focus on financial operations and growth, while Fernandez will drive HR strategies for global expansion. iRhythm aims to enhance operational effectiveness and efficiency with these appointments, aligning with its vision to lead in digital healthcare for cardiac care.

iRhythm Technologies has received FDA 510(k) clearance for its ZEUS System in conjunction with the Zio Watch, developed with Verily. This clinical-grade wearable aims to detect and monitor atrial fibrillation (AFib), integrating seamlessly into clinician workflows. The Zio Watch employs advanced algorithms for continuous monitoring and generating preliminary reports for physicians. Notably, the ACE algorithm achieved a 93.6% sensitivity and 99.1% specificity for AFib detection. The Zio Watch will be evaluated in a limited market in 2023.

iRhythm Technologies, Inc. (NASDAQ: IRTC) announced the resignation of Chief Commercial Officer Dave Vort, effective July 25, 2022. Vort will continue as a strategic advisor until March 31, 2023. Chad Patterson, formerly Chief Marketing Officer at Dexcom, joins as the new CCO. iRhythm estimates preliminary unit volumes for Q2 2022 are slightly ahead of expectations, with projected revenue for the year between $410 million and $420 million. The company will release its Q2 2022 financial results on August 4, 2022.

iRhythm Technologies (NASDAQ: IRTC) commented on the CMS Medicare Physician Fee Schedule Proposed Rule for 2023, released on July 7, 2022. The proposed rule includes updates to payment rates for long-term ECG monitoring services, specifically through CPT codes 93243 and 93247, used for reimbursement of the Zio XT service. Proposed national payment rates are $215 and $204, with potential rates ranging from $218 to $295 and $207 to $280 depending on geographic factors. iRhythm anticipates the impact on its full-year 2022 revenue guidance would be immaterial.

iRhythm Technologies, a leader in digital health care, announced its participation in the 42nd Annual William Blair Growth Stock Conference. The presentation is scheduled for June 8, 2022, at 2:40 p.m. Central Time. Interested parties can access the live and archived webcast via the company’s website.

iRhythm specializes in innovative cardiac care solutions, using wearable biosensor devices and advanced data analytics to improve the diagnosis of cardiac arrhythmias.

iRhythm Technologies reported strong first-quarter results for 2022, with revenue reaching $92.4 million, a 24.3% increase year-over-year. Gross margin improved to 66.9%, despite a slight decline from last year. However, the company reported a net loss of $50.6 million, an increase from $27.8 million in Q1 2021, attributed to higher operating expenses driven by one-time charges. Looking ahead, iRhythm projects 2022 revenue between $410 million and $420 million, anticipating growth of 27% to 30% compared to 2021.

iRhythm Technologies (NASDAQ: IRTC) announced the appointment of Dr. Mintu Turakhia as Chief Medical Officer and Chief Scientific Officer, aiming to enhance its innovation and clinical product portfolio. Dr. Turakhia is renowned for his work in cardiac care and digital health, with over 20 years of experience. His leadership is expected to drive advancements in the company’s technology and services. Additionally, Chief Clinical Officer Judy Lenane will retire after 14 years, with the company recognizing her significant contributions to its success.

iRhythm Technologies (NASDAQ: IRTC) will announce its first-quarter 2022 financial results after trading closes on May 5, 2022. The management team will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results. iRhythm specializes in cardiac care through its innovative wearable biosensor devices and cloud-based analytics, which aim to enhance arrhythmia detection and management. Interested investors can access the live and archived call via the company’s website.

iRhythm Technologies (NASDAQ: IRTC) presented promising clinical research at ACC.22, highlighting the effectiveness of its Zio service for early detection of silent atrial fibrillation (AF). Key findings include:

• Zio AT reduced hospital resources, saving a healthcare system 136 inpatient days.
• 4.5% of high-risk patients using Zio XT were diagnosed with AF within two weeks.
• Post-TAVR monitoring with Zio AT revealed a significant incidence of arrhythmias, notably AF in 25% of patients.

This data underscores Zio’s role in improving patient care and hospital workflows, particularly amidst ongoing healthcare challenges.