Principal Financial Group Reduces Investment in iRhythm Technologies,
December 4, 2023
🌥️Trending News
IRHYTHM ($NASDAQ:IRTC): Principal Financial Group Inc. recently announced a reduction in their investment in iRhythm Technologies, Inc., a digital health company focused on providing advanced cardiac care solutions. This decision comes as part of Principal Financial Group Inc.’s strategic review of their portfolio and investments. iRhythm Technologies, Inc. is a San Francisco-based company that specializes in the development of innovative medical device solutions. Their products include the ZIO Service, ZIO XT Patch, and ZIO AT Patch, all of which provide advanced cardiac care for patients.
The company has partnerships with several major health systems and is dedicated to improving the efficiency of cardiac care for providers and patients alike. Nevertheless, iRhythm Technologies, Inc. continues to focus on providing innovative solutions to improve cardiac care for its customers and partners.
Price History
On Tuesday, IRHYTHM TECHNOLOGIES Inc. saw its stock open at $87.7 and close at a lower price of $85.4, a decrease of 3.3% from the prior closing price of 88.3. Principal Financial Group Inc. is a global financial services firm that specializes in retirement savings, investments, insurance, and banking products. The cause of their reduction in investment is yet unknown, however it has caused speculation among investors and analysts. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Irhythm Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 472.79 | -104.91 | -22.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Irhythm Technologies. More…
| Operations | Investing | Financing |
| -21.55 | -10.72 | 8.5 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Irhythm Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 439.77 | 219.97 | 7.17 |
Key Ratios Snapshot
Some of the financial key ratios for Irhythm Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 24.4% | – | -21.3% |
| FCF Margin | ROE | ROA |
| -11.8% | -28.3% | -14.3% |
Analysis
GoodWhale has conducted an analysis of IRHYTHM TECHNOLOGIES‘ fundamentals and concluded that the company is strong in terms of asset and growth, but has a weak dividend and profitability. According to our Star Chart, we classify IRHYTHM TECHNOLOGIES as a ‘cheetah’, which is a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. The type of investors that may be interested in such a company are those looking for higher growth potential, as well as those who are willing to take on more risk. Additionally, given that IRHYTHM TECHNOLOGIES has an intermediate health score of 4/10 considering its cashflows and debt, the company may be able to pay off its debt and fund future operations. More…
Peers
The competition between iRhythm Technologies Inc and its competitors is fierce. Each company is striving to develop the best technology and products to help cancer patients. While iRhythm Technologies Inc is focused on developing products to help patients with cancer, its competitors are also working hard to develop their own products to help cancer patients.
– Advanced Oncotherapy PLC ($LSE:AVO)
Advanced Oncotherapy PLC is a UK-based company that provides proton therapy treatment for cancer patients. The company has a market capitalization of 114.21 million as of 2022 and a return on equity of -27.6%. Advanced Oncotherapy PLC is a provider of proton therapy, which is a type of cancer treatment that uses protons to destroy cancer cells. The company’s proton therapy system is called the LIGHT system, which is currently in clinical trials.
– VeriTeQ Corp ($OTCPK:VTEQ)
VeriTeQ Corp is a provider of digital vaccine and health passport technology solutions. The company’s solutions are designed to increase patient safety and improve clinical outcomes by providing real-time visibility into the vaccination and immunization status of patients. VeriTeQ’s vaccine and health passport technology is used by healthcare providers, pharmaceutical companies, and government agencies to track and verify the vaccination and immunization status of patients.
– Bone Biologics Corp ($NASDAQ:BBLG)
Biologics Corp is a company that develops and commercializes biologic products for the treatment of orthopedic diseases and conditions. The company has a market cap of 7.46M and a ROE of -16.65%.
Summary
Investors should take note of the recent activity of Principal Financial Group Inc. in iRhythm Technologies, Inc. The company’s stock price decreased shortly after Principal Financial Group Inc. decreased their holdings in the company. This indicates that the financial institution has low expectations for the company’s future performance and suggests that investors should do their own research before investing in iRhythm Technologies, Inc. When making an investment decision, investors should consider the company’s financial history, economic conditions, industry trends, management team, and competitive landscape before investing in the stock. Additionally, investors should watch for events such as announced mergers or acquisitions, changes in leadership, or changes in financial performance for additional insight into the company’s potential performance.
Related Posts
Recent Posts
