Last Updated: 17 Sep 2024
Executive Summary
iRhythm Technologies Inc. (IRTC) is a leading provider of ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias. The company's products are used to diagnose and manage arrhythmias, which are irregular heartbeats that can lead to serious health complications. iRhythm has a strong market position, with a large installed base of its products and a growing customer base. The company is also benefiting from the increasing adoption of remote patient monitoring technologies.
Company Overview
iRhythm Technologies was founded in 2006 and is headquartered in San Francisco, California. The company's products are used by cardiologists, electrophysiologists, and other healthcare professionals to diagnose and manage arrhythmias. iRhythm's products include the Zio XT, a wearable ECG monitor that can be worn for up to 14 days, and the Zio Patch, a disposable ECG monitor that can be worn for up to 7 days.
Fundamental Analysis
iRhythm Technologies has a strong financial profile. The company has a revenue of $537.1 million and an EBITDA of -$95.8 million. The company's gross profit margin is 52.5% and its operating margin is -15.5%. iRhythm has a book value of $3.18 per share and a diluted EPS of -$4.27.
Technical Analysis
iRhythm Technologies' stock price is currently trading at $73.7, which is below its 52-week high of $124.11 and above its 52-week low of $60.88. The stock's 50-day moving average is $80.09 and its 200-day moving average is $99.11. The stock's relative strength index (RSI) is 50.1, which indicates that the stock is neither overbought nor oversold.
Short Term Outlook
iRhythm Technologies' stock price is expected to rise in the short term. The company's strong financial performance and the increasing adoption of remote patient monitoring technologies are expected to drive the stock price higher. The stock's technical indicators also suggest that the stock is in a bullish trend.
Long Term Outlook
iRhythm Technologies' stock price is expected to rise in the long term. The company's strong market position and its growing customer base are expected to drive the stock price higher. The company's products are also expected to benefit from the increasing adoption of remote patient monitoring technologies.
Analyst Recommendations
Analysts are bullish on iRhythm Technologies' stock. The average analyst rating for the stock is "Buy." The analysts' target price for the stock is $119.3.
