iRhythm Technologies (IRTC) Leads Cardiac Monitoring Market with Zio Device, Freedom Capital Initiates Coverage

iRhythm Technologies, Inc. (NASDAQ:IRTC) ranks among the best medical device stocks to invest in. On October 13, Freedom Capital Markets began coverage of iRhythm Technologies, Inc. (NASDAQ:IRTC) with a Buy rating and a $205 price target.

With a 70% market share in long-term cardiac monitoring, Freedom Capital states that iRhythm’s Zio Monitor has established itself as a “category killer” and has disrupted the conventional 48-hour Holter monitors.

According to Freedom Capital, iRhythm Technologies, Inc. (NASDAQ:IRTC) has a 12% market share in continuous monitoring with its Zio AT product, which patients can wear for up to 14 days. The firm anticipates a rise in share with the impending release of a 21-day device.

The firm emphasized that while iRhythm Technologies, Inc. (NASDAQ:IRTC) has grown its sales channels to the primary care market and landed larger accounts, it has surpassed expectations and increased projections in the last two quarters.

iRhythm Technologies, Inc. (NASDAQ:IRTC) is a digital healthcare company. It specializes in the design and commercialization of device-based technologies for ambulatory cardiac monitoring.

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Disclosure: None. This article is originally published at Insider Monkey.