Morgan Stanley Raises iRhythm (IRTC) PT on MedTech Recovery Outlook

Company Overview - iRhythm Technologies, Inc. (NASDAQ:IRTC) is a digital health company specializing in wearable biosensors and cloud-based analytics for cardiac monitoring, integrating AI into arrhythmia detection and predictive diagnostics [4] Industry Outlook - Morgan Stanley raised its price target on iRhythm Technologies from $195 to $205, maintaining an Overweight rating, reflecting a positive outlook for the MedTech industry heading into 2026 [1] - The MedTech industry is seen as well-positioned due to major product cycles, a supportive hospital spending environment, and current valuations at trough levels [1] Recent Developments - On November 21, iRhythm presented new data at the joint Asia Pacific Heart Rhythm Society and Japan Heart Rhythm Society scientific sessions, showcasing a large-scale retrospective analysis of its Zio long-term continuous ECG monitoring (LTCM) system [2] - The study involved data from 408,470 US patients using the Zio LTCM service for up to 14 days, demonstrating consistent performance in Asian patients compared to non-Asian patients, despite lower baseline prevalence of conditions like atrial fibrillation, heart failure, and coronary artery disease [3] - Detection rates and repeat monitoring rates were similar across diverse populations, supporting the generalizability of Zio monitoring [3]