Itamar Medical In Wake-up Mode?

(RTTNews) - Shares of Itamar Medical Ltd. (ITMR), which closed at an all-time high of $15.73 on Friday, have gained an impressive 22% so far this year.

Itamar Medical is an Israeli medical device company developing non-invasive diagnostic medical devices for sleep apnea with a focus on the cardiology market. The Company markets FDA-cleared EndoPAT and WatchPAT devices.

EndoPAT is indicated for the diagnosis of endothelial dysfunction, which is the earliest detectable stage of cardiovascular disease. WatchPAT is a home device for the diagnosis of sleep breathing disorders.

It is estimated that about 54 million people in North America suffer from sleep apnea, which is a major risk factor for heart disease and stroke. The diagnostic and treatment market for sleep apnea is valued at more than $3 billion.

Itamar provides cardiologists with a comprehensive sleep solution, combining diagnostics and therapy.

The Company plans to report financial results for the fourth quarter and full-year ended December 31, 2019, on March 3, 2020.

Total revenue for the fourth quarter of 2019 is expected to be $9.6 million to $9.8 million, an increase of 46% to 49% compared to $6.6 million in the year-ago same quarter. Total revenue for the full year ended December 31, 2019, is expected to be $31.1 million to $31.3 million, an increase of 29% compared to $24.2 million in 2018.

Wall Street analysts have a consensus revenue estimate of $10.92 million for the fourth quarter and $31.28 million for the full year of 2019.

Looking ahead to full-year 2020, revenue is expected to be in the range of approximately $39.5 million to $42.0 million while the analysts' consensus estimate calls for revenue of $41.12 million.

Itamar had its initial public offering on the Tel Aviv Stock Exchange (TASE) in March 2007. The Company's American Depositary Shares commenced trading on the Nasdaq on February 27, 2019.

On the TASE, ITMR is currently trading at 176 Israeli Shekel, down 1.07%. On the Nasdaq, the stock closed Friday's (Jan.31, 2020) trading at $15.73, up 13.99%.