Sands Capital Management Reduces Stake in iRhythm Technologies

The investment firm sold nearly a quarter of its shares in the digital health company.

Published on Mar. 11, 2026

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Sands Capital Management LLC, a major institutional investor, reduced its stake in iRhythm Technologies (NASDAQ: IRTC) by 23.3% during the third quarter of 2025. The firm now owns 2.2 million shares, or 6.94% of the company's outstanding stock, down from its previous holding of 2.9 million shares.

Why it matters

iRhythm is a leading provider of wearable cardiac monitoring devices and data analytics services. The company's flagship Zio patch is widely used by cardiologists to diagnose heart rhythm disorders. Sands Capital's decision to trim its position in iRhythm could signal a shift in investor sentiment around the stock or the broader digital health industry.

The details

According to a 13F filing with the SEC, Sands Capital sold 679,417 shares of iRhythm Technologies during the third quarter. The firm cited portfolio rebalancing as the reason for the reduction in its iRhythm stake. Despite the sell-off, Sands Capital remains one of iRhythm's largest institutional shareholders, with a position valued at $384.6 million as of the most recent filing.

  • Sands Capital Management reduced its iRhythm Technologies stake during the third quarter of 2025.

The players

Sands Capital Management LLC

A major institutional investment firm that manages over $70 billion in assets.

iRhythm Technologies

A medical technology company that develops wearable cardiac monitoring devices and data analytics services.

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The takeaway

Sands Capital's decision to trim its iRhythm position could signal broader uncertainty around the digital health sector, though the firm remains a significant shareholder in the company. Investors will be watching to see if other major institutions follow suit or if iRhythm can maintain strong investor support.