iRhythm Technologies announces the retirement of board members Rubash and Snyderman, appoints McGinnis and O’Boyle as new directors.
Quiver AI Summary
iRhythm Technologies, Inc. announced the retirement of long-time board members Mark Rubash and Dr. Ralph Snyderman, effective July 7, 2025. Rubash, a board member since 2016, and Snyderman, who joined in 2017, both decided to step down to focus on personal endeavors. In their place, Karen McGinnis and Kevin O’Boyle have been appointed to the board, bringing extensive experience in finance and the medical industry. The Chairman of the Board, Abhi Talwalkar, expressed gratitude for Rubash and Snyderman's contributions to the company's growth and innovation in digital health. McGinnis has over 30 years of executive experience and a history of successful leadership in large organizations, while O’Boyle has a proven record of driving significant market growth in his previous roles.
Potential Positives
- The appointment of Karen McGinnis and Kevin O’Boyle to the board of directors enhances iRhythm Technologies' leadership with significant expertise in finance, strategy, and healthcare, positioning the company well for future growth.
- The outgoing board members, Mark Rubash and Ralph Snyderman, expressed confidence in the company's future, indicating a strong foundation has been established during their tenure.
- McGinnis and O’Boyle bring experience from large-scale companies, which may facilitate strategic initiatives, operational improvements, and potential market expansion for iRhythm.
Potential Negatives
- The retirement of established board members with significant industry expertise may raise concerns about leadership continuity and strategic direction during a critical phase of growth.
- There is a potential risk of instability within the company’s governance structure as two key figures exit simultaneously, which could impact investor confidence.
- Transitioning to new board members who are relatively untested in the specific context of digital health may provoke skepticism about the company’s future performance and direction.
FAQ
Who are the retiring board members at iRhythm Technologies?
The retiring board members are Mark Rubash and Ralph Snyderman, M.D., effective July 7, 2025.
What expertise do the new board members bring to iRhythm?
Karen McGinnis and Kevin O’Boyle bring extensive financial expertise and operational experience from the medical and biotechnology industries.
What roles will Karen McGinnis and Kevin O'Boyle serve in?
They will serve on the board and as members of the Audit Committee, with O'Boyle also on the Nominating & Governance Committee.
When did Mark Rubash join iRhythm's board?
Mark Rubash joined the board in 2016, prior to iRhythm's initial public offering.
What is iRhythm Technologies' primary focus?
iRhythm focuses on creating digital health solutions that detect, predict, and prevent disease through innovative technology.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$IRTC Insider Trading Activity
$IRTC insiders have traded $IRTC stock on the open market 15 times in the past 6 months. Of those trades, 0 have been purchases and 15 have been sales.
Here’s a breakdown of recent trading of $IRTC stock by insiders over the last 6 months:
- CHAD PATTERSON (Chief Commercial Officer) has made 0 purchases and 6 sales selling 23,499 shares for an estimated $2,758,965.
- QUENTIN S. BLACKFORD (President and CEO) sold 22,252 shares for an estimated $2,495,116
- PATRICK MICHAEL MURPHY (CBO and CLO) has made 0 purchases and 2 sales selling 16,330 shares for an estimated $1,791,041.
- MINANG TURAKHIA (EVP, CMO & CSO) has made 0 purchases and 2 sales selling 8,434 shares for an estimated $992,962.
- DANIEL G. WILSON (Chief Financial Officer) has made 0 purchases and 3 sales selling 7,512 shares for an estimated $981,670.
- SUMI SHRISHRIMAL (EVP, Chief Risk Officer) sold 7,942 shares for an estimated $890,536
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$IRTC Hedge Fund Activity
We have seen 128 institutional investors add shares of $IRTC stock to their portfolio, and 101 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC added 568,261 shares (+169.7%) to their portfolio in Q1 2025, for an estimated $59,485,561
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$IRTC Analyst Ratings
Wall Street analysts have issued reports on $IRTC in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Citigroup issued a "Buy" rating on 05/22/2025
- Wells Fargo issued a "Overweight" rating on 05/02/2025
- Oppenheimer issued a "Outperform" rating on 01/08/2025
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$IRTC Price Targets
Multiple analysts have issued price targets for $IRTC recently. We have seen 2 analysts offer price targets for $IRTC in the last 6 months, with a median target of $133.0.
Here are some recent targets:
- Richard Newitter from Truist Financial set a target price of $146.0 on 05/05/2025
- Suraj Kalia from Oppenheimer set a target price of $120.0 on 01/08/2025
Full Release
SAN FRANCISCO, July 07, 2025 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ:IRTC) , a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, today announced the retirement of two long-serving board members, Mark Rubash and Ralph Snyderman, M.D., effective July 7, 2025. Concurrently, Karen McGinnis and Kevin O’Boyle have accepted appointments to the board of directors.
Mark Rubash has served on the board since 2016, prior to the company’s initial public offering, bringing decades of experience in finance, accounting, and strategy at high-growth technology companies. Ralph Snyderman, M.D., who joined the board in 2017, brought unparalleled clinical expertise and was a driving force in leading iRhythm through complex digital technology challenges early in the company’s trajectory. The leaders decided to leave the board to pursue personal endeavors in their retirement.
“It has been an extraordinary privilege to serve on the board of iRhythm during a period of tremendous growth and maturation,” said Mr. Rubash. “I’ve seen firsthand how this company continues to pioneer, evolve, and put its values into action. I leave with incredible confidence in management, the board, and the company’s bright future.”
Dr. Snyderman added, “The eight years I’ve spent on the board of iRhythm have provided some of the most rewarding experiences of my professional life. I’m extremely proud of what iRhythm has accomplished for the benefit of millions of patients globally and am excited to watch the company execute its long-range plan and innovate into the future.”
iRhythm’s newly appointed board members bring deep financial expertise, business acumen, and strategic operational experience from within the medical and biotechnology industry. With their appointment to the board of directors, both Mr. O’Boyle and Ms. McGinnis have also been appointed to serve as members of the Company’s Audit Committee, and Mr. O’Boyle will serve as a member of the Nominating & Governance Committee.
“We are profoundly grateful to Mark and Ralph for their service, wisdom, and steadfast leadership during the better part of a decade, playing crucial roles in the establishment of iRhythm as a pioneer in ambulatory cardiac monitoring and digital health innovation,” said Abhi Talwalkar, Chairman of the Board of Directors. “Their guidance has helped navigate a period of substantial company maturation while also helping to shape iRhythm’s long-term vision. At the same time, we are thrilled to welcome Karen and Kevin, whose extensive experiences, global expertise, and unique insights at global medical companies will be invaluable as we enter our next phase of growth.”
About Karen McGinnis
Karen McGinnis is an accomplished senior executive and board member with over three decades of experience leading complex international companies across biotechnology, consumer electronics, semiconductor, and technology industries. She has demonstrated expertise in driving results for organizations ranging from under $100 million to over $5 billion in annual revenue, with a proven track record in both growth and turnaround situations. Her most recent executive role was Chief Accounting Officer at Illumina, Inc. (NASDAQ: ILMN) from 2017 to 2021, where she led global accounting and tax operations for the genomics leader. Previously, she served as CEO, board member, and CFO of Mad Catz Interactive, a manufacturing gaming brand of interactive entertainment and computer products, where she successfully executed a global restructuring plan that reduced annual operating expenses and navigated complex liquidation proceedings across eight countries.
Throughout her career, Ms. McGinnis has built a reputation as a hands-on leader focused on building quality teams, implementing key processes, and maintaining the highest standards of integrity and ethics. Her extensive experience spans strategic planning, acquisitions and integrations, capital raises including IPOs, SEC reporting and compliance, and international operations. McGinnis currently serves on multiple public company boards, including as board member and Audit Committee Chair at Alphatec Holdings (NASDAQ: ATEC) and Absci Corporation (NASDAQ: ABSI), where she previously served as Lead Independent Director.
Ms. McGinnis holds a bachelor’s degree in accounting from the University of Oklahoma and is a Certified Public Accountant.
About Kevin O’Boyle
Kevin O'Boyle brings over 20 years of executive leadership experience, most notably as Executive Vice President and Chief Financial Officer at NuVasive, where he helped grow the company's market capitalization from $100 million to $2 billion. Under his financial leadership, NuVasive met or exceeded Wall Street expectations for 23 consecutive quarters while achieving an average compound annual growth rate of over 45 percent and expanding Wall Street research coverage from four to 24 analysts. His executive experience also includes CFO and COO roles at Advanced BioHealing, ChromaVision Medical Systems, and Albert Fisher.
Mr. O'Boyle has served on the boards of directors of multiple public companies over the past decade, notably as Chairman of GenMark Molecular Diagnostics (acquired by Roche) and Audit Committee Chair roles at Wright Medical Group (acquired by Stryker), ZELTIQ (acquired by Allergan), and Nevro (acquired by Globus Medical). He currently serves as Audit Committee Chair at Outset Medical (NASDAQ: OM) and Carlsmed.
Mr. O'Boyle holds a bachelor’s degree in accounting from Rochester Institute of Technology and completed executive management studies at UCLA Anderson School of Management.
About iRhythm Technologies
iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all.
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