Irhythm Technologies Inc Stock Price, News & Analysis

iRhythm Technologies (NASDAQ: IRTC) will present its 3-year clinical outcomes from the mSToPS trial at the AHA Scientific Sessions on November 16, 2020. The study involved 5,214 Aetna members at risk for atrial fibrillation (AF), with 1,738 enrolled for monitoring using the Zio XT patch. The trial aimed to evaluate the effectiveness of digital monitoring in diagnosing AF and its clinical consequences. A webcast will follow the presentation, discussing the implications of these findings for cardiac care. This event highlights iRhythm's commitment to improving arrhythmia detection.

iRhythm Technologies reported a robust third quarter for 2020, with revenue reaching $71.9 million, representing a 31.6% increase year-over-year and a 41.4% increase from Q2. Gross margin remained high at 74.7%, consistent with the previous year, while adjusted EBITDA turned positive at $14.8 million. The company completed a follow-on offering, generating $206.8 million in net proceeds. Cash and short-term investments totaled $327.2 million at quarter end. CEO Kevin King highlighted increased demand for the Zio XT service despite ongoing pandemic challenges.

iRhythm Technologies, Inc. (NASDAQ: IRTC) will announce its third-quarter 2020 financial results on November 5, 2020, after market close. A conference call will be held at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results. Interested investors can access a live and archived webcast via the company’s website.

iRhythm specializes in digital healthcare solutions for cardiac care, utilizing wearable biosensors and advanced data analytics for improved arrhythmia diagnosis.

iRhythm Technologies (NASDAQ: IRTC) has been awarded the Artificial Intelligence (AI) in Health and Care Award during London Tech Week's Founders Forum HealthTech Summit. The funding will support trials of its Zio cardiac monitoring service across various UK healthcare sites, enabling improved arrhythmia detection. This initiative aims to enhance patient outcomes while alleviating pressure on NHS resources. With approximately 1.2 million people in the UK diagnosed with atrial fibrillation, iRhythm's technology promises critical improvements in timely diagnoses and healthcare access.

iRhythm Technologies (NASDAQ: IRTC) has successfully closed its underwritten public offering of 1,257,142 shares at $175.00 each, totaling approximately $220 million in gross proceeds. This includes the full exercise of underwriters' options for an additional 163,975 shares. J.P. Morgan and Morgan Stanley led the offering, with Citigroup and others as co-managers. Investors can access the final prospectus on the SEC website. iRhythm focuses on innovative cardiac care solutions, utilizing wearable biosensors and cloud analytics to enhance arrhythmia diagnosis.

iRhythm Technologies (NASDAQ: IRTC) has announced the pricing of an underwritten public offering of 1,093,167 shares at $175.00 per share, aiming to raise approximately $191.3 million. The offering includes a 30-day option for underwriters to purchase an additional 163,975 shares. The funds will support growth initiatives, working capital, and potential expansions, such as enhancing their sales force and increasing R&D activities. The offering is set to close on August 21, 2020, pending customary conditions.

iRhythm Technologies, Inc. (NASDAQ: IRTC) has initiated a public offering of 1,000,000 shares of common stock, with an option for underwriters to purchase an additional 150,000 shares. The proceeds will fund growth initiatives, expand the sales force and operations, enhance R&D activities, and support general corporate purposes. The offering is subject to market conditions, and there are no current agreements for acquisitions. The registration statement has been filed with the SEC but is not yet effective.

iRhythm Technologies, Inc. (NASDAQ: IRTC) reported a 3% decline in revenue for Q2 2020, totaling $50.9 million, compared to $52.4 million in Q2 2019. Gross margin decreased to 69.6% from 75.2% year-over-year, with operating expenses rising 11.1% to $55.6 million. The net loss widened to $20.4 million or $0.75 per share, versus a loss of $10.7 million or $0.43 per share in the prior year. The company has not provided full-year guidance due to ongoing COVID-19 uncertainties.

iRhythm Technologies (NASDAQ: IRTC) is set to host a conference call on August 4, 2020, at 1:10 PM PT to discuss the impact of new Medicare codes on its business, as outlined in the 2021 Medicare Physician Fee Schedule Proposed Rule. The event will be available via live and archived webcast on the company’s investor website. iRhythm specializes in digital health care solutions for diagnosing cardiac arrhythmias, using advanced biosensor devices and proprietary algorithms.