INSPIRE MED SYS INC INSP
COM · Common Stock · CUSIP 457730109 · ISIN US4577301090
Company in Maple Grove, United States
- SectorHealth care
- IndustrySurgical & Medical Instruments & Apparatus
- HeadquartersGolden Valley, MN
- Founded2007
- Websiteinspiresleep.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($15.0m this quarter). Holder counts are more reliable. Shares outstanding: 29.5m as of 2025-04-30, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $160.09. Options: 14 managers hold calls ($36.7m notional), 14 hold puts ($34.9m).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 302 |
| Q4 2022 | 339 |
| Q1 2023 | 373 |
| Q2 2023 | 408 |
| Q3 2023 | 366 |
| Q4 2023 | 343 |
| Q1 2024 | 327 |
| Q2 2024 | 325 |
| Q3 2024 | 347 |
| Q4 2024 | 357 |
| Q1 2025 | 364 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 209 | 192 |
| Q3 2023 | 192 | 209 |
| Q4 2023 | 171 | 202 |
| Q1 2024 | 165 | 162 |
| Q2 2024 | 189 | 167 |
| Q3 2024 | 190 | 164 |
| Q4 2024 | 166 | 168 |
| Q1 2025 | 194 | 163 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $68.8m | $70.8m | 1.03 |
| Q3 2024 | $120.6m | $132.4m | 1.10 |
| Q4 2024 | $54.8m | $73.8m | 1.35 |
| Q1 2025 | $36.7m | $34.9m | 0.95 |
Biggest buyers
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +759.1k |
| Dragoneer Investment Group, LLC | Added | +426.5k |
| CONGRESS ASSET MANAGEMENT CO | Added | +299.9k |
| WASATCH ADVISORS LP | Added | +202.3k |
| EVENTIDE ASSET MANAGEMENT, LLC | Added | +181.2k |
| VOYA INVESTMENT MANAGEMENT LLC | Added | +173.3k |
| UBS Group AG | Added | +121.6k |
| NORGES BANK | Added | +104.3k |
| Granite Investment Partners, LLC | Added | +90.6k |
| Catalio Capital Management, LP | New | +85.9k |
Biggest sellers
| MARSHALL WACE, LLP | Reduced | -261.8k |
| FULLER & THALER ASSET MANAGEMENT, INC. | Sold out | -232.4k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | Reduced | -209.7k |
| Bank of New York Mellon Corp | Reduced | -200.6k |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -196.6k |
| BlackRock, Inc. | Reduced | -171.8k |
| MORGAN STANLEY | Reduced | -145.5k |
| Rhenman & Partners Asset Management AB | Reduced | -134.0k |
| JPMORGAN CHASE & CO | Reduced | -119.8k |
| Eversept Partners, LP | Reduced | -107.9k |
Biggest calls
| MILLENNIUM MANAGEMENT LLC | Added | $13.6m85.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $8.6m53.9k shares |
| CITADEL ADVISORS LLC | Reduced | $7.1m44.6k shares |
| JANE STREET GROUP, LLC | Added | $3.5m21.9k shares |
| Balyasny Asset Management L.P. | Added | $764.5k4.8k shares |
| Arrowpoint Investment Partners (Singapore) Pte. Ltd. | New | $684.9k4.3k shares |
| K2 PRINCIPAL FUND, L.P. | Reduced | $653.0k4.1k shares |
| TUDOR INVESTMENT CORP ET AL | Added | $541.6k3.4k shares |
| WOLVERINE TRADING, LLC | Reduced | $456.0k2.9k shares |
| PEAK6 LLC | Reduced | $302.6k1.9k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $14.9m93.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $9.9m62.3k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $2.6m16.2k shares |
| WOLVERINE TRADING, LLC | Added | $1.8m11.2k shares |
| JANE STREET GROUP, LLC | Reduced | $1.4m9.0k shares |
| Arrowpoint Investment Partners (Singapore) Pte. Ltd. | New | $1.0m6.5k shares |
| GROUP ONE TRADING LLC | Added | $907.9k5.7k shares |
| Walleye Trading LLC | Added | $653.0k4.1k shares |
| Walleye Capital LLC | Reduced | $637.1k4.0k shares |
| PEAK6 LLC | Reduced | $366.3k2.3k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution +3.1 pts · filed 2026-07-28 | 14.4% |
| WELLINGTON MANAGEMENT GROUP LLP 13G · institution +1.2 pts · filed 2026-05-15 | 8.8% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution +1.7 pts · filed 2026-07-31 | 7.4% |
| Soleus Capital Master Fund, L.P. 13G · passive investor +1.6 pts · filed 2026-08-13 | 6.7% |
| AQR CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-08-12 | 6.4% |
| D. E. SHAW & CO, L.P. 13G · passive investor new · filed 2026-07-02 | 5.1% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.1% |
Fell to 5% or below in the last year: Flynn James E (4.5%, 2026-05-14), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC), CITADEL ADVISORS LLC (1.8%, 2026-02-17), Dragoneer Investment Group, LLC (0.0%, 2025-11-14)
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2023 | 0 | — | 2 | $5.3m | $4.9m |
| Q3 2023 | 0 | — | 2 | $822.5k | $822.5k |
| Q4 2023 | 1 | $15.3k | 0 | — | — |
| Q1 2024 | 0 | — | 3 | $5.6m | $2.8m |
| Q2 2024 | 0 | — | 3 | $11.7m | $3.5m |
| Q3 2024 | 0 | — | 3 | $5.2m | $5.2m |
| Q4 2024 | 0 | — | 1 | $1.7m | $1.7m |
| Q1 2025 | 1 | $655 | 2 | $6.0m | $6.0m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-03-20 | Curet Myriam Director | Bought | $6554 shares |
| 2025-03-03 | Ban Randy Officer | Sold plan | $733.5k3.9k shares |
| 2025-03-03 | Rondoni John Chief Technology Officer | Sold plan | $424.5k2.3k shares |
| 2025-02-13 | Ban Randy Officer | Sold plan | $4.7m25.6k shares |
| 2025-02-11 | Rondoni John Chief Technology Officer | Sold plan | $99.4k583 shares |
| 2025-01-07 | Rondoni John Chief Technology Officer | Sold plan | $12.5k58 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 4.0m $641.8m | Reduced -171.8k |
| VANGUARD GROUP INC 0.01% of their portfolio | 3.2m $513.8m | Reduced -44.7k |
| FMR LLC 0.03% of their portfolio | 2.5m $404.8m | Added +21.8k |
| WASATCH ADVISORS LP 1.35% of their portfolio | 1.5m $242.8m | Added +202.3k |
| Dragoneer Investment Group, LLC 4.35% of their portfolio | 1.3m $206.7m | Added +426.5k |
| BAILLIE GIFFORD & CO 0.16% of their portfolio | 1.2m $184.7m | Reduced -96.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.05% of their portfolio | 1.1m $177.3m | Added +759.1k |
| STATE STREET CORP 0.01% of their portfolio | 1.0m $160.6m | Reduced -54.1k |
| Invesco Ltd. 0.03% of their portfolio | 858.6k $136.8m | Added +65.5k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.31% of their portfolio | 692.9k $110.4m | Reduced -209.7k |
| JANUS HENDERSON GROUP PLC 0.06% of their portfolio | 642.8k $101.1m | Added +75.4k |
| MACQUARIE GROUP LTD 0.11% of their portfolio | 558.2k $88.9m | Added +20.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 511.2k $81.5m | Added +24.9k |
| UBS Group AG 0.02% of their portfolio | 485.2k $77.3m | Added +121.6k |
| TimesSquare Capital Management, LLC 1.22% of their portfolio | 476.2k $75.9m | Added +42.4k |
| MORGAN STANLEY 0.01% of their portfolio | 439.1k $69.9m | Reduced -145.5k |
| Champlain Investment Partners, LLC 0.50% of their portfolio | 435.8k $69.4m | Reduced -8.6k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.76% of their portfolio | 433.5k $69.0m | Added +14.6k |
| BAMCO INC /NY/ 0.20% of their portfolio | 422.7k $67.3m | Added +74.9k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 399.7k $63.7m | Reduced -119.8k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 380.3k $60.6m | Reduced -200.6k |
| Artisan Partners Limited Partnership 0.10% of their portfolio | 373.4k $59.5m | Reduced -76.8k |
| BROWN CAPITAL MANAGEMENT LLC 1.69% of their portfolio | 352.3k $56.1m | Added +47.6k |
| VOYA INVESTMENT MANAGEMENT LLC 0.03% of their portfolio | 329.9k $52.5m | Added +173.3k |
| CONGRESS ASSET MANAGEMENT CO 0.37% of their portfolio | 307.6k $49.0m | Added +299.9k |
| Allspring Global Investments Holdings, LLC 0.08% of their portfolio | 306.7k $48.5m | Reduced -19.6k |
| EVENTIDE ASSET MANAGEMENT, LLC 0.97% of their portfolio | 306.3k $48.8m | Added +181.2k |
| BRAIDWELL LP 1.69% of their portfolio | 302.4k $48.2m | Added +9.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 287.9k $45.9m | Reduced -8.3k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 277.7k $44.2m | Added +45.3k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 260.4k $41.5m | Added +16.2k |
| AQR CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 242.2k $37.1m | Reduced -196.6k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 236.5k $37.7m | Reduced -20.3k |
| FEDERATED HERMES, INC. 0.08% of their portfolio | 228.3k $36.4m | Unchanged |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 217.7k $34.7m | Reduced -3.9k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 207.5k $33.1m | Reduced -36.9k |
| KEYBANK NATIONAL ASSOCIATION/OH 0.13% of their portfolio | 201.1k $32.0m | Added +311 |
| Connor, Clark & Lunn Investment Management Ltd. 0.14% of their portfolio | 196.2k $31.2m | Added +18.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.05% of their portfolio | 190.7k $30.4m | Added +54.0k |
| Eversept Partners, LP 3.36% of their portfolio | 186.4k $29.7m | Reduced -107.9k |
| GILDER GAGNON HOWE & CO LLC 0.38% of their portfolio | 183.7k $29.3m | Reduced -4.0k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.04% of their portfolio | 182.8k $29.1m | Added +35.1k |
| Amundi 0.01% of their portfolio | 182.3k $27.2m | Reduced -21.1k |
| SEI INVESTMENTS CO 0.04% of their portfolio | 171.8k $27.4m | Added +8.3k |
| NORGES BANK 0.00% of their portfolio | 162.0k $25.8m | Added +104.3k |
| Atika Capital Management LLC 3.93% of their portfolio | 160.6k $25.6m | Added +3.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 147.8k $23.5m | Added +1.5k |
| Thrivent Financial for Lutherans 0.05% of their portfolio | 140.9k $22.4m | Added +11.8k |
| Nuveen, LLC 0.01% of their portfolio | 136.6k $21.8m | First filing |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.10% of their portfolio | 136.2k $21.7m | Added +45.6k |
| RIVERBRIDGE PARTNERS LLC 0.34% of their portfolio | 132.4k $21.1m | Reduced -9.7k |
| Man Group plc 0.06% of their portfolio | 129.8k $20.7m | Reduced -46.1k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 122.1k $19.4m | Added +17.3k |
| Aberdeen Group plc 0.04% of their portfolio | 121.4k $19.3m | Unchanged |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.07% of their portfolio | 110.6k $17.6m | Reduced -99.6k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 106.4k $16.9m | Added +60.0k |
| Granite Investment Partners, LLC 0.84% of their portfolio | 104.1k $16.6m | Added +90.6k |
| NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio | 100.2k $16.0m | Added +15.9k |
| Rock Springs Capital Management LP 0.90% of their portfolio | 99.2k $15.8m | Reduced -30.8k |
| Bellevue Group AG 0.35% of their portfolio | 99.0k $15.8m | Reduced -49.5k |
| Public Sector Pension Investment Board 0.06% of their portfolio | 94.1k $15.0m | Added +19.4k |
| Legal & General Group Plc 0.00% of their portfolio | 94.0k $15.0m | Reduced -1.5k |
| Catalio Capital Management, LP 3.39% of their portfolio | 85.9k $13.7m | New |
| Caisse de depot et placement du Quebec 0.03% of their portfolio | 85.2k $13.6m | Added +81.2k |
| Eagle Health Investments LP 3.36% of their portfolio | 81.1k $12.9m | Reduced -55.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 78.9k $12.6m | Added +1.5k |
| Tri Locum Partners LP 6.44% of their portfolio | 78.8k $12.6m | Reduced -72.0k |
| WCM INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio | 72.9k $11.5m | Added +17.1k |
| Bridgewater Associates, LP 0.05% of their portfolio | 72.9k $11.6m | Added +69.7k |
| Driehaus Capital Management LLC 0.11% of their portfolio | 71.7k $11.4m | New |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 71.5k $11.4m | Reduced -2.1k |
| MAIRS & POWER INC 0.12% of their portfolio | 70.8k $11.3m | Added +6.1k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio | 67.8k $10.8m | Added +2.1k |
| Mitsubishi UFJ Trust & Banking Corp 0.03% of their portfolio | 67.5k $10.7m | Reduced -5.9k |
| CREDIT AGRICOLE S A 0.04% of their portfolio | 67.2k $10.7m | Reduced -50.9k |
| JENNISON ASSOCIATES LLC 0.01% of their portfolio | 66.6k $10.6m | Added +19.0k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 65.4k $10.4m | Reduced -36.2k |
| Integral Health Asset Management, LLC 1.15% of their portfolio | 65.0k $10.4m | Reduced -35.0k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 60.3k $9.6m | Added +7.9k |
| ALGERT GLOBAL LLC 0.24% of their portfolio | 59.8k $9.5m | Added +16.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 59.6k $9.5m | First filing |
| Swiss National Bank 0.01% of their portfolio | 58.1k $9.3m | Reduced -500 |
| FRED ALGER MANAGEMENT, LLC 0.05% of their portfolio | 57.4k $9.1m | Reduced -5.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 56.4k $9.0m | Reduced -1.5k |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 55.6k $8.9m | Reduced -8.7k |
| ExodusPoint Capital Management, LP 0.12% of their portfolio | 54.9k $8.7m | Reduced -97.8k |
| M&G PLC 0.04% of their portfolio | 52.9k $8.4m | Added +3.2k |
| Rheos Capital Works Inc. 0.68% of their portfolio | 52.4k $8.3m | Unchanged |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 51.4k $8.2m | Added +18.9k |
| KORNITZER CAPITAL MANAGEMENT INC /KS 0.16% of their portfolio | 50.2k $8.0m | Unchanged |
| Impax Asset Management Group plc 0.05% of their portfolio | 50.0k $8.0m | Unchanged |
| CAPITAL FUND MANAGEMENT S.A. 0.10% of their portfolio | 47.6k $7.6m | Reduced -33.3k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.03% of their portfolio | 47.3k $7.5m | Added +12.1k |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 46.2k $7.4m | Added +29.8k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.06% of their portfolio | 45.0k $7.2m | Reduced -2.9k |
| Trexquant Investment LP 0.08% of their portfolio | 41.6k $6.6m | Added +7.7k |
| Kopp Family Office, LLC 4.52% of their portfolio | 41.0k $6.5m | Unchanged |
| Soleus Capital Management, L.P. 0.49% of their portfolio | 39.0k $6.2m | New |
| California Public Employees Retirement System 0.00% of their portfolio | 38.5k $6.1m | Reduced -36 |
| Beck Bode, LLC 1.08% of their portfolio | 36.5k $5.8m | Added +1.8k |