IRhythm Technologies, Inc. is a digital healthcare company, which engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services. It also provides solutions that detect, predict, and prevent disease. The company was founded by Uday N. Kumar in September 2006 and is headquartered in San Francisco, CA. Market Cap is calculated by multiplying the number of shares outstanding by the stock’s price. To calculate, start with total shares outstanding and subtract the number of restricted shares.

• Finally, the fair price would stand at close to $158 per share.
• Raised $76 million in an initial public offering on Thursday, October 20th 2016.
• This puts Kevin M. King in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.
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• Specifically, they have bought $0.00 in company stock and sold $1,831,058.00 in company stock.

Breakout in below trend line or support level of 550, will open the room for levels of 400 and 270. Weekly chart analysis of IRCTC, Trending in negative channel. Trending In negative channel and most probably to do so in futurDaily chart analysis of IRCTC, Trending in negative channel. IRhythm Technologies saw a increase in short interest in April. As of April 15th, there was short interest totaling 2,280,000 shares, an increase of 6.0% from the March 31st total of 2,150,000 shares.

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Average price gain of 7.64% within 30 days of this signal in last 5 years. One share of IRTC stock can currently be purchased for approximately $134.90. Sign-up to receive the latest news and ratings for iRhythm Technologies and its competitors with MarketBeat’s FREE daily newsletter. The P/E ratio of iRhythm Technologies is -34.27, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. 98.96% of the stock of iRhythm Technologies is held by institutions.

Raised $76 million in an initial public offering on Thurshttps://1investing.in/, October 20th 2016. The company issued 5,400,000 shares at a price of $13.00-$15.00 per share. Morgan and Morgan Stanley acted as the underwriters for the IPO and Canaccord Genuity and BTIG were co-managers. 20 employees have rated iRhythm Technologies Chief Executive Officer Kevin M. King on Glassdoor.com. Kevin M. King has an approval rating of 91% among the company’s employees. This puts Kevin M. King in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

IRhythm Technologies, Inc. offers innovative solutions in the field of digital healthcare with its Zio ambulatory cardiac monitoring technology. Its Zio system, which combines a portable biosensor and cloud-based software, enables clinicians to efficiently and quickly diagnose arrhythmias, which can lead to more timely and effective care for patients. I believe that further expansion and market penetration by targeting the large existing ambulatory cardiac monitoring market in the United States will bring revenue growth. Sufficient marketing efforts as well as enhancement of the current portfolio of products will likely bring revenue growth. The company believes that the current market penetration is only close to 25%. 10 Wall Street analysts have issued “buy,” “hold,” and “sell” ratings for iRhythm Technologies in the last twelve months.

There are currently 2 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street analysts is that investors should “buy” IRTC shares. Market cap, also known as market capitalization, is the total market value of a company. It’s calculated by multiplying the current market price by the total number of shares outstanding. The 50-day moving average is a frequently used data point by active investors and traders to understand the trend of a stock. It’s calculated by averaging the closing stock price over the previous 50 trading days.

High institutional ownership can be a signal of strong market trust in this company. In the past three months, iRhythm Technologies insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,831,058.00 in company stock. MarketBeat has tracked 4 news articles for iRhythm Technologies this week, compared to 3 articles on an average week. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes.

IRhythm Technologies has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock. According to analysts’ consensus price target of $152.10, iRhythm Technologies has a forecasted upside of 14.1% from its current price of $133.33. The company’s average rating score is 2.80, and is based on 8 buy ratings, 2 hold ratings, and no sell ratings. IRhythm reported accounts payable worth $7 million, accrued liabilities of $65 million, and deferred revenue of $3 million. Finally, long term debt stands at $34 million, with total liabilities of $208 million.

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tax credits net funds Buy IdeaNote – One of the best forms of Price Action is to not try to predict at all. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy if it breaks”, You should not buy at all. Positional buying trade for IRCTCbuy on irctc with limited risk and profit target of 90points against the 30 point risk. Buy on irctc with limited risk and profit target of 90points against the 30 point risk. Medical device short idea IRTCThis device maker has fragile business model which may soon become victim of medicare reimbursement changes, reducing is current payment by 50%.

With this, the company is expecting enhancement of its portfolio, and adding products in adjacent markets like undiagnosed and/or asymptomatic cardiac arrhythmias. In my view, even considering risks from failed market assessment and the billing complexity of Zio services, I believe that the stock is undervalued. Trending In ChannelWeekly chart analysis of IRCTC, Trending in negative channel. No chance of upside unlesss breaks channel in upward direction.

FAQs about IRCTC share

The buzz surrounding generative artificial intelligence this year is shining a spotlight on the broader AI industry, which is ripe with potential for early investors.

I also believe that adjacent markets like undiagnosed and/or asymptomatic cardiac arrhythmias could increase the target market. As a result, potential revenue growth could accelerate, which may bring more interest from market participants. In this regard, new efforts are expected for 2023, so I believe that paying attention to the stock will likely help. In addition, it competes with companies that sell traditional 24 to 48-hour monitoring, such as GE Healthcare , Philips Healthcare , and Spacelabs Healthcare. Also, future competition could come from big tech companies focused on general health and wellness.

IRCTC Share Price Forecast

My numbers are a bit more conservative than what other investment analysts are expecting. I included 2023 net loss of -$94 million, depreciation and amortization close to $16 million, and stock-based compensation of $67 million. Besides, changes in accounts receivable of -$76 million and changes in inventory of -$8 million resulted in a net cash used in operating activities of -$1 million. If we also assume purchases of property and equipment of -$41 million, 2023 FCF would be close to -$41 million. Money Flow Uptick/Downtick RatioMoney flow measures the relative buying and selling pressure on a stock, based on the value of trades made on an “uptick” in price and the value of trades made on a “downtick” in price.

As the name implies, momentum trading relies on reacting to the current movement o… IRhythm Technologies delivered earnings and revenue surprises of 23.17% and 2.40%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock… Within Tourism & Hospitality sector IRCTC, Thomas Cook Ltd. and Wonderla Holidays Ltd. are usually compared together by investors for analysis. Within Tourism & Hospitality sector, it’s market cap rank is 1.

Based on an average daily trading volume, of 334,300 shares, the days-to-cover ratio is presently 6.8 days. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 to -2 . This is a higher news sentiment than the 0.65 average news sentiment score of Medical companies. My figures for 2033 include net income of $211 million, depreciation and amortization close to $49 million, and stock-based compensation close to $147 million. If we also include capex of -$120 million, the FCF would be close to $364 million.

As of December 31, 2022, iRhythm reported cash and cash equivalents of $78 million, with short-term investments of $134 million and accounts receivable of $49 million. Also, with inventory worth $15 million and prepaid expenses and other current assets of $10 million, total current assets were equal to $288 million. The total amount of current assets is around 2.9x the total amount of current liabilities, so I do not believe that we have a liquidity issue here. I believe that having a careful look at the expectations from other investment analysts will help the investors who may not believe in the future of the products.

• My cash flow model includes gradual increases in FCF driven by increases in net income accompanied by increases in depreciation, increases in accounts payable, and increases in deferred revenue.
• If we sum future FCF, and use a WACC of 7.4%, the enterprise value would stand at $4.782 billion.
• Zio service consists of wearable patch-based biosensors, Zio XT and Zio AT monitors, which records and stores ECG data from every patient…
• The company issued revenue guidance of $475.00 million-$485.00 million, compared to the consensus revenue estimate of $482.18 million.
• If doctors, regulators, and insurance companies decide that the devices are too expensive or not necessary, I believe that revenue expectations would decline.
• The company’s average rating score is 2.80, and is based on 8 buy ratings, 2 hold ratings, and no sell ratings.

To see all exchange delays and terms of use please see Barchart’s disclaimer. The company is scheduled to release its next quarterly earnings announcement on Thursday, May 4th 2023. IRhythm Technologies has a short interest ratio (“days to cover”) of 6.8.

Data may be intentionally delayed pursuant to supplier requirements. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. I/we have a beneficial long position in the shares of IRTC either through stock ownership, options, or other derivatives.

Besides, if we sum cash of $78 million, and subtract noncurrent debt of $34 million, the company value would stand at $4.826 billion. Finally, the fair price would stand at close to $158 per share. In my view, a significant amount of cash in hand means management likely does not have to talk to financial institutions or providers to finance the operations.

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Property and equipment stood at $75 million, with operating lease right-of-use assets close to $60 million and total assets of $448 million. The asset/liability ratio is equal to more than 2x, so I believe that the balance sheet has a stable position. With that about the income statement, the most interesting, in my view, is the cash flow statement. Analysts expect FCF to grow from negative territory in 2022 to close to $175 million in 2023 and $130 million in 2025. The expected increase in FCF is what made me design a DCF model for the company.