What happened Shares of iRhythm Technologies (NASDAQ: IRTC), a company that makes wearable heart monitors, are posting big gains today. Investors fired up about the appointment of Quentin Blackford as CEO pushed the stock 33.8% higher as of 12:25 p.m. EDT on Monday. So what The stock crashed earlier this year when the company failed to secure a favorable reimbursement rate from Medicare for the Zio XT, its heart arrhythmia detection device for high-risk patients. Despite the setback, the company expects total revenue to rise about 22% year over year to $323 million in 2021. Blackford previously served as the chief operating officer of DexCom, a highly successful manufacturer of wearable blood glucose monitors that had reimbursement issues of its own. DexCom's operations turned strongly profitable last year, and it looks as if investors expect him to do the same for iRhythm in the years ahead. Image source: Getty Images. Now what Sales of iRhythm's devices are growing, but they would grow a lot faster with a national pricing determination from the Centers for Medicare and Medicaid Services. It's hoped that Blackford can make more progress on this front than his predecessor once he officially takes the helm on Oct. 4. Before a Medicare contractor slashed the reimbursement price for the Zio XT, iRhythm's market cap had risen past $7 billion. This company is still the only manufacturer of simple, wearable solutions for detecting life-threatening heart arrhythmias. It's probably just a matter of time before the stock reaches a new peak. 10 stocks we like better than iRhythm Technologies, Inc. Common StockWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and iRhythm Technologies, Inc. Common Stock wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 9, 2021 Cory Renauer has no position in any of the stocks mentioned. The Motley Fool recommends DexCom. The Motley Fool has a disclosure policy.Source