iRhythm Holdings, Inc Stock Price, News & Analysis

iRhythm Technologies (NASDAQ: IRTC) responded to the CMS 2022 Medicare Physician Fee Schedule, released on November 2, 2021. The Final Rule did not establish national pricing for relevant CPT codes associated with iRhythm’s Zio XT service, which is vital for extended ECG monitoring. The company is working with Medicare Administrative Contractors (MACs) to secure local pricing for these services. Although disappointed by the lack of national pricing, iRhythm remains hopeful about constructive discussions with MACs regarding appropriate rates.

iRhythm Technologies, Inc. (NASDAQ: IRTC) announced the release of its third quarter 2021 financial results on November 4, 2021, after market close. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET, where management will discuss the results. The event can be accessed live and archived on the company’s website. iRhythm is recognized for its innovative approach to cardiac arrhythmia diagnosis through wearable biosensor devices and advanced analytics, aiming to enhance clinical management of patients.

iRhythm Technologies has appointed Karen Ling to its Board of Directors as a Class 1 Director, effective November 1, 2021, while Raymond Scott will retire from the Board on the same date after serving since 2013. Quentin Blackford, iRhythm’s President and CEO, highlighted Ms. Ling's extensive HR leadership experience in healthcare and insurance, which will aid in scaling the company's operations globally. Ms. Ling previously held significant HR roles at AIG and Allergan, and expressed her commitment to contribute to iRhythm's growth and market opportunities.

iRhythm Technologies announced results from the mHealth Screening to Prevent Strokes (mSToPS) study, published in PLOS One. The trial involved 1,718 participants who used the Zio XT monitor vs. 3,371 controls, showing a reduction in serious cardiac events like death and stroke. The actively monitored group had a 3.6 incidence rate per 100 person-years, compared to 4.5 in controls, indicating Zio's effectiveness in detecting atrial fibrillation (AF). The study supports the need for enhanced cardiac screening to prevent adverse outcomes.

iRhythm Technologies announced the appointment of Quentin Blackford as President and CEO effective October 4, 2021. Blackford, previously Chief Operating Officer at Dexcom, brings over 20 years of experience in innovative medical devices and digital health. His leadership is expected to drive iRhythm's growth and market expansion. The company focuses on improving cardiac arrhythmia diagnoses through advanced technology. Douglas Devine will continue as Interim CEO until Blackford assumes his role.

iRhythm Technologies (NASDAQ: IRTC) will participate in the 19th Annual Morgan Stanley Global Healthcare Conference on September 9, 2021, at 5:00 p.m. Eastern Time. The event will feature a presentation by iRhythm's management, accessible via a live and archived webcast on their website. iRhythm is transforming cardiac arrhythmia diagnosis with wearable biosensors and advanced data analytics, improving patient care management. For more information, visit www.irhythmtech.com.

iRhythm Technologies reported a 59.8% increase in revenue for Q2 2021, reaching $81.3 million compared to $50.9 million in Q2 2020. Despite strong demand for the Zio platform, gross margin declined to 68.0% from 69.6% due to lower Medicare reimbursement rates and increased overtime costs. Operating expenses rose to $72.3 million, causing a net loss of $17.4 million, an improvement from last year's $20.4 million. For 2021, revenue guidance is set at $320-$325 million, reflecting 21%-23% growth.

iRhythm Technologies (NASDAQ: IRTC), a leader in digital healthcare for cardiac care, will participate in the 41st Annual Canaccord Genuity Global Growth Conference on August 12, 2021, at 1:00 p.m. ET. The event will highlight the company’s innovative approach to diagnosing cardiac arrhythmias using wearable biosensor devices and cloud-based data analytics. Interested parties can access the live and archived webcast on the company website.

iRhythm Technologies, Inc. (NASDAQ: IRTC) will report its Q2 2021 financial results on August 5, 2021, after market close. A conference call, starting at 1:30 p.m. PT / 4:30 p.m. ET, will accompany the results. The company specializes in digital health care solutions for cardiac care, utilizing advanced biosensor devices and cloud-based analytics for arrhythmia diagnosis. This innovative approach aims to significantly enhance patient management by providing actionable insights from extensive cardiac data.