iRhythm Technologies, Inc. (NASDAQ:IRTC) is among the 10 Stocks with Huge Catalysts on the Horizon, with FDA clearance for the Zio AT device paving the way for innovation and stock growth potential. The company, based in California, specializes in transforming cardiac arrhythmia detection through wearable biosensors and cloud-based data analytics.

The recent FDA 510(k) clearance for iRhythm’s Zio AT device allows for design modifications and labeling updates, ensuring continued availability in the U.S. The company also launched the Zio ECG Recording and Analysis System in Japan, with nationwide availability expected by July 2025. Baird maintained a Buy rating on the stock with a price target of $160.

Insider Monkey database shows 31 hedge funds holding stakes in iRhythm Technologies, Inc. (NASDAQ:IRTC), indicating a moderate level of institutional confidence. While IRTC has investment potential, other AI stocks may offer greater upside with less downside risk. For undervalued AI stock opportunities, check out the report on the best short-term AI stock.

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Read more at Yahoo Finance: FDA Clearance Boosts iRhythm Zio Device Innovation and Fuels Growth Potential