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YOKOHAMA, JAPAN - iRhythm Technologies, Inc. (NASDAQ:IRTC) presented data at the joint Asia Pacific Heart Rhythm Society and Japan Heart Rhythm Society scientific sessions showing its Zio long-term ECG monitoring system performs consistently across diverse populations. The cardiac monitoring company, currently valued at $5.47 billion, has seen its stock surge 129.63% over the past year according to InvestingPro data, despite not yet achieving profitability.
The study analyzed 408,470 U.S. patients monitored between 2018 and 2022, comparing results between Asian and non-Asian patients. Asian patients, who represented 3.4% of the cohort, showed comparable median wear time (13.6 vs. 13.0 days) and analyzable ECG duration (12.9 vs. 12.2 days) to non-Asian patients.
Despite lower baseline prevalence of atrial fibrillation, heart failure, and coronary artery disease, Asian patients demonstrated similar atrial fibrillation detection rates (14.0% vs. 14.3%) and total arrhythmia yield (79.8% vs. 82.9%). Repeat monitoring rates were also comparable between groups (14.8% vs. 15.4%).
"These findings show that factors such as skin type, lifestyle, and adherence did not affect wear time, analyzable time, or arrhythmia detection, indicating the device performs equally well in Asian patients," said Dr. Hiro Kawata, Consulting Medical Director for iRhythm Technologies and presenting author of the study.
Dr. Itsuro Morishima of Ogaki Municipal Hospital in Japan noted that while the results are based on Asians residing in the United States, they provide valuable insight into the system’s potential utility in Japan.
The Zio ECG Recording and Analysis System, which enables up to 14 days of continuous monitoring, is distributed in Japan through Senko Medical Instrument Co., Ltd. Japan represents the second-largest market worldwide for ambulatory cardiac monitoring with approximately 1.6 million tests prescribed annually.
The findings were presented at the 18th Asia Pacific Heart Rhythm Society and Japanese Heart Rhythm Society 2025 Joint Scientific Session in Yokohama, Japan, according to the company’s press release.
In other recent news, iRhythm Technologies has reported impressive third-quarter results, with revenue reaching $192.9 million, marking a 30.7% increase compared to the same period last year. This figure surpassed consensus estimates by approximately $8 million. The company also reported adjusted earnings per share of $0.06, significantly beating analyst expectations of -$0.32. Following these results, the company has seen several analysts raise their price targets. Freedom Capital increased its target to $220 while maintaining a Buy rating, citing strong performance in iRhythm’s Zio monitors and record volumes of Zio AT tests. Needham raised its price target to $244, also maintaining a Buy rating, after iRhythm exceeded revenue expectations and subsequently raised its 2025 revenue guidance. BTIG increased its target to $215, highlighting the company’s expansion in the primary care provider channel and integration of Zio into electronic health records. Canaccord Genuity set a new target of $212, noting the company’s adjusted EBITDA of $21.6 million, which exceeded both its and consensus projections.
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