Morgan Stanley raises iRhythm price target to $160, maintaining overweight rating

iRhythm Technologies, Inc. (NASDAQ:IRTC) is one of the top 10 healthcare AI stocks to buy according to hedge funds. Morgan Stanley raised the price target on IRTC to $160 from $130, maintaining an “Overweight” rating. The company saw a surge in MyZio app downloads totaling 171,169 in Q2, signaling potential outperformance.

Morgan Stanley highlighted iRhythm’s strong app adoption as a sign of growing patient engagement and acceptance of digital cardiac care. The company’s scalable infrastructure and rising clinical data volume are improving detection and redefining remote patient monitoring. iRhythm is viewed as a compelling investment amid increasing demand for smart health solutions.

iRhythm Technologies, Inc. develops the Zio platform, a patch-based cardiac monitoring solution utilizing advanced analytics and machine learning for accurate arrhythmia detection. The company’s AI technology analyzes millions of heartbeats in real time, aiding in the diagnosis of conditions like atrial fibrillation more effectively than traditional methods.

Morgan Stanley sees iRhythm as a leader in digital diagnostics and a promising investment. For those seeking AI stocks with high growth potential, other options may offer greater returns with limited downside risk. Check out our report on the cheapest AI stock with 100x upside potential for more information on promising investments.

Read more at Yahoo Finance: Morgan Stanley Raises iRhythm (IRTC) Price Target, Maintains Overweight Rating