IRTC Stock: 7 Things to Know About Digital Healthcare Play iRhythm Technologies as Shares Soar

Irhythm Technologies (NASDAQ:IRTC) stock is taking off on Monday after announcing Quentin Blackford as its next CEO.

Image of a virtual heart in front of a diagram representing IRTC stock.

Source: ESB Professional/Shutterstock.com

Blackford will be joining iRhythm Technologies starting Oct. 4. This will also have him taking on the role of president, as well as joining the company’s Board of Directors. This will have him taking over from interim CEO Douglas Devine.

Abhijit Talwalkar, chairman of the Board at iRhythm Technologies, said the following about the news.

“Quentin is a world-class leader who has been at the center of growth and market expansion at multiple premier medtech companies. Quentin has a strong track record of engaging teams to instill excellence across global operations.”

Keeping this in mind, here’ what else traders need to know about IRTC stock.

  • Irhythm Technologies is a digital healthcare company focused on wearable biosensing technology.
  • These devices support cloud-based data analytics and machine-learning capabilities.
  • The company’s goal is to be the leader for “first-line ambulatory electrocardiogram, or ECG, monitoring for patients at risk for arrhythmias.”
  • Irhythm Technologies’ big product is Zio.
  • This is a complete ambulatory cardiac monitoring solution.
  • The monitor is installed by a doctor, the patient wears it for a time, then it’s sent back for the data to be evaluated.
  • It’s also worth noting that iRhythm Technologies has a market capitalization of $1.886 billion.

IRTC stock is seeing heavy trading on Monday. As of this writing, some 2 million shares of the stock have changed hands. For comparison, the company’s daily average trading volume was about 383,000 shares.

IRTC stock was up 33.1% as of Monday morning.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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