Irhythm Technologies (IRTC) has disclosed a new risk, in the Debt & Financing category.
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Irhythm Technologies faces a significant risk related to the potential conversion of its 2029 Notes, which could lead to dilution of existing stockholders’ ownership interests if shares are delivered upon conversion. This conversion process could prompt market sales of the newly issued common stock, potentially exerting downward pressure on the stock’s market price. Furthermore, the mere presence of the 2029 Notes might stimulate short selling, as market participants may exploit the conversion to cover short positions, further depressing the stock price. Such dynamics could negatively impact the company’s market valuation and shareholder value.
The average IRTC stock price target is $104.91, implying 44.82% upside potential.
To learn more about Irhythm Technologies’ risk factors, click here.