Professional
Added to YB: 2025-08-20
Pitch date: 2025-08-18
IRTC [bearish]
iRhythm Holdings, Inc.
+25.68%
current return
Author Info
Spruce Point Capital Management is an activist investment manager specializing in forensic short-selling. Sign up for the newsletter.
Company Info
iRhythm Holdings, Inc., a digital healthcare company, engages in the design, development, and commercialization of device-based technology that provides ambulatory cardiac monitoring services to diagnose arrhythmias in the United States.
Market Cap
$3.8B
Pitch Price
$158.55
Price Target
43.00 (-64%)
Dividend
N/A
EV/EBITDA
4.2K
P/E
-133.02
EV/Sales
5.01
Sector
Health Care Equipment and Supplies
Category
N/A
Spruce Point Capital Management Issues 'Strong Sell' Research Opinion On iRhythm Technologies (NASDAQ: IRTC)
IRTC short: DOJ investigating possible cover-up of fatal product flaws; FDA found Zio AT transmission limit led to patient deaths. Management credibility questioned. Product undifferentiated as cardio monitors commoditized. Asymptomatic market overstated; smartwatches disrupting. Growth headwinds with declining transparency. 40-70% downside to $43-94/share.
Read full article (12 min)