SCHEDULE: Sands Capital Maintains 5.3% Stake in iRhythm Holdings

Sands Capital Management and Frank M. Sands report a continued 5.3% beneficial ownership in iRhythm Holdings, Inc. as of December 31, 2025.

Summary

• Sands Capital Management, LLC and Frank M. Sands jointly report beneficial ownership of 1,699,645 shares of iRhythm Holdings, Inc. Common Stock.
• This represents 5.3% of the issuer's outstanding shares, based on 32,219,143 shares as of October 23, 2025.
• The reporting persons hold shared voting power over 1,117,133 shares and shared dispositive power over 1,699,645 shares.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive update, as a prominent institutional investor maintaining a significant passive stake can be interpreted as a vote of confidence, though it provides no new operational or financial insights.

Positives

• A significant institutional investor, Sands Capital Management, maintains a substantial stake, indicating continued confidence in iRhythm Holdings, Inc.

Future Outlook

This filing, a beneficial ownership report, does not contain forward-looking statements or guidance from iRhythm Holdings, Inc. or the reporting persons regarding the issuer's future performance.

Industry Context

StockSavvy.ai notes that the continued significant stake by Sands Capital Management, a prominent investment firm, in iRhythm Holdings, Inc. suggests ongoing institutional interest in the medical device and healthcare technology sector, particularly in companies focused on cardiac monitoring solutions.

Stakeholder Impact

• Shareholders: The continued presence of a significant institutional investor like Sands Capital Management may provide a degree of stability and confidence.

Key Dates

Recommendation

This Schedule 13G filing primarily reports a passive ownership stake by Sands Capital Management and Frank M. Sands. It does not contain new financial performance data, strategic updates, or operational insights that would warrant a change in investment recommendation. The maintenance of a significant stake by a reputable institutional investor is generally a neutral to slightly positive signal, suggesting continued belief in the company's long-term prospects, but it lacks the fundamental information needed for a 'buy' or 'sell' decision. Therefore, a 'hold' recommendation is appropriate, pending further operational or financial disclosures from iRhythm Holdings, Inc.

Keywords

iRhythm Holdings, Sands Capital Management, Beneficial Ownership, Schedule 13G, Institutional Investor, Common Stock, Medical Devices, Healthcare Technology