Mervin Smith, who serves as Executive Vice President Strategic Business Operations at iRhythm Holdings, Inc. (NASDAQ: IRTC), executed a sale of 732 shares of common stock on February 24, 2026, at a price of $140.91 per share. The transaction produced total proceeds of $103,146, according to a Form 4 filing with the Securities and Exchange Commission.
The filing specifies the sale was carried out pursuant to a Rule 10b5-1 trading plan that Smith established on November 19, 2025. After the disposition, Smith's direct ownership in iRhythm Holdings stands at 15,106 shares.
The stock has experienced recent weakness: shares declined 14.5% over the past week and were trading at $135.85 when the sale was reported. Separately, InvestingPro analysis cited in the filing indicates the shares appear overvalued at current levels.
iRhythm's most recent quarterly performance provided context to the insider sale. The company reported fourth-quarter revenue of $208.9 million, a year-over-year increase of 27.1%, and outpaced consensus revenue expectations by roughly 4%. Management attributed the stronger top-line showing to momentum behind ZioAT and gains with channel partners.
In that quarter, iRhythm recorded positive GAAP net income for the first time and reported adjusted EBITDA of $34.3 million. Following the preliminary results, several research firms updated their views: Truist Securities and Canaccord Genuity trimmed their price targets to $200 and $198 respectively while leaving Buy ratings intact. Morgan Stanley reaffirmed an Overweight rating with a $205 price target.
Looking to 2026, iRhythm projected revenue between $870 million and $880 million, implying growth of 17% to 18% year over year. The company also forecast an adjusted EBITDA margin in the range of approximately 11.5% to 12.5% for 2026.
For investors seeking additional company-level analysis, the filing notes the availability of a detailed Pro Research Report on InvestingPro that covers iRhythm alongside more than 1,400 other U.S. equities.