The past month has seen a resurgence from medtech companies in the markets and last week saw the best performance yet. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 90.78 points at the end of last week (Aug. 28). Overall, medtech stocks saw a 1.3% increase […]
iRhythm Technologies Inc.
DTW Podcast: Truist’s Kaila Krum says Medtronic prepping for growth
In an interview with DeviceTalks Weekly Podcast, Truist Securities managing director Kaila Krum says Medtronic executives are retooling the company to keep pace with smaller, more focused competitors. Breaking down the company’s Q1 call, Krum says Medtronic is seen as a company that’s too big to grow market share quickly. On the call, new CEO […]
The top 5 MassDevice stories of the week — August 28, 2020
As earnings season concludes and the COVID-19 pandemic roars on, medtech companies continue to find new ways to make waves. This week’s top five MassDevice stories showcase how companies are operating in the “new normal,” as they look toward the post-pandemic future, whenever that may arrive. Strong quarterly earnings, big funding rounds and new innovations in […]
iRhythm closes $220M offering
iRhythm Technologies (NSDQ:IRTC) announced that it closed its underwritten public offering worth proceeds of approximately $220 million. San Francisco-based iRhythm offered nearly 1.3 million shares of its common stock priced at $175 per share, including the exercise in full of the underwriters’ option to purchase 163,975 additional shares under the same terms and conditions, according to […]
iRhythm prices $191.3M public offering
iRhythm Technologies (NSDQ:IRTC) announced that it priced an underwritten public offering of common stock expected to bring in $191.3 million. San Francisco-based iRhythm is offering nearly 1.1 million shares of its common stock, priced at $175 per share. Additionally, the underwriters were granted a 30-day option to purchase up to 163,975 more shares, bringing the expected […]
iRhythm Technologies dips on Street-beating Q2 results
iRhythm Technologies (NSDQ:IRTC) posted second-quarter results this week that beat the consensus on Wall Street. The San Francisco-based company reported losses of $20.4 million, or -75¢ per share, on sales of $50.9 million for the three months ended June 30, for a sales loss of -3% compared with Q2 2019. Earnings per share were -75¢, 7¢ […]
iRhythm Technologies names new chief financial officer
iRhythm Technologies (NSDQ:IRTC) this week said it appointed Douglas Devine as chief financial officer, effective June 22. Devine succeeds Matthew Garrett who announced his intention to step down. Garrett will assist in the transition of CFO responsibilities and will remain at the company under an advisory role for up to a year. “On behalf of everyone […]
iRhythm Technologies up on Street-beating Q1 results
iRhythm Technologies (NSDQ:IRTC) posted first-quarter results that beat the consensus on Wall Street. The company reported losses of -$9.1 million, or -34¢ per share, on sales of $63.5 million for the three months ended March 31, for a sales growth of 31.5% compared with Q1 2019. Earnings per share were -34¢, 28¢ ahead of The Street, […]
iRhythm Technologies beats on revenue, misses on earnings in Q4 results
iRhythm Technologies (NSDQ:IRTC) posted fourth-quarter results today that beat the revenue consensus on Wall Street but missed on earnings. The San Francisco-based company reported losses of $17.3 million, or -65¢ per share, on sales of $59.1 million for the three months ended Dec. 31, 2019, for a bottom-line sales growth of 41.5% compared with Q4 2018. […]
New 510(k) boosts iRhythm, Verily efforts for AFib screening
The latest 510(k) clearance for the Verily Study Watch will further the efforts of the Google sister company and iRhythm Technologies (NSDQ:IRTC) to improve atrial fibrillation treatment. Verily — a life science company under Alphabet (NSDQ:GOOGL) — recently received an FDA 510(k) clearance to include an irregular pulse monitor in its Study Watch wearable. “We’ve worked carefully […]
iRhythm releases delayed Q3 earnings report, falls short of Street projections
iRhythm Technologies (NSDQ:IRTC) shares are slightly up today on third-quarter results that came up short of the consensus forecast. The San Francisco-based company delayed its third-quarter report in November due to a previously disclosed material weaknesses. At the time, the company said it identified errors that affected prior periods while preparing the quarterly report for the […]
