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IRhythm Technologies CEO Mike Coyle Resigns; Shares Down 12%

Shares of digital healthcare solutions company iRhythm Technologies, Inc. (IRTC) are down 12 percent in Tuesday's after-market trade on news that President and Chief Executive Officer Mike Coyle will be stepping down from his positions with immediate effect due to personal matters.

The company's Chief Financial Officer, Douglas Devine, will serve as the interim CEO while the search for a permanent CEO is ongoing. The company's Board of Directors has formed a CEO search committee and appointed a leading executive search firm to help with the search process.

The Company also reiterated its second quarter 2021 guidance of approximately 4% sequential volume growth over the sequential quarter and operating expenses to be approximately flat compared to the same period last year.

IRTC ended Tuesday at $76.25, up $0.79 or 1% on the NYSE.

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