Is iRhythm Technologies, Inc. overvalued or undervalued?

As of 15 February 2017, iRhythm Technologies, Inc. has moved from a grade of "does not qualify" to "risky." The company is currently considered overvalued. Key ratios indicate significant financial distress, with a Price to Book Value of 54.03, an EV to EBIT of -62.98, and an ROE of -76.24%.
In comparison to its peers, iRhythm's P/E ratio is notably negative at -70.04, while Glaukos Corp. has a P/E of -47.09 and Inari Medical, Inc. shows an even more negative P/E of -97.30. The company's performance has outpaced the S&P 500 in the past year, returning 46.52% compared to the index's 10.26%, but this does not mitigate the valuation concerns reflected in its financial ratios.