Here is Why Hedge Funds Are Appreciating iRhythm Holdings (IRTC)

iRhythm Holdings (NASDAQ:IRTC) is one of the 12 best Medical Devices stocks to invest in according to Hedge Funds.

On January 12, Morgan Stanley maintained its Overweight rating on iRhythm Holdings (NASDAQ:IRTC). The firm assigned a price target of $205, which represents a 35% upside from the current level.

The rating came after iRhythm Holdings (NASDAQ:IRTC) announced its preliminary results for the fourth quarter, posting revenues of around $207 million amid volumetric growth. This represented outperformance relative to consensus estimates, which stood at $200 million. As per the company’s 2026 guidance, midpoint revenues are projected at around $875 million, which, according to Morgan Stanley, does not include expected numbers from iRhythm’s next-generation Mobile Cardiac Telemetry (MCT) device.

Earlier on January 5, Vijay Kumar from Evercore ISI had also revised his rating for iRhythm Holdings (NASDAQ:IRTC), to Outperform. He adjusted his price target estimate from $194 to $210, which now offers an upside potential above 38% from the prevailing level.

iRhythm Holdings (NASDAQ:IRTC) is a digital healthcare company that develops and commercializes device-based Zio biosensor technology for diagnosing cardiac arrhythmias. It offers both long-term and short-term cardiac monitoring services, as well as mobile cardiac telemetry monitoring. The company also incorporates AI-based data analytics in its operations.

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