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 ($8.7m this quarter). Holder counts are more reliable. Shares outstanding: 29.6m as of 2025-07-30, 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 ≈ $129.82. Options: 11 managers hold calls ($15.4m notional), 10 hold puts ($16.7m).
Trends to Q2 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 |
| Q2 2025 | 358 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q2 2025 | 177 | 193 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $120.6m | $132.4m | 1.10 |
| Q4 2024 | $54.8m | $73.8m | 1.35 |
| Q1 2025 | $36.7m | $34.9m | 0.95 |
| Q2 2025 | $15.4m | $16.7m | 1.08 |
Biggest buyers
| Dragoneer Investment Group, LLC | Added | +1.1m |
| FRONTIER CAPITAL MANAGEMENT CO LLC | Added | +259.7k |
| Man Group plc | Added | +250.5k |
| BRAIDWELL LP | Added | +220.0k |
| BANK OF AMERICA CORP /DE/ | Added | +148.1k |
| DEERFIELD MANAGEMENT COMPANY, L.P. | New | +140.0k |
| Aberdeen Group plc | Added | +121.7k |
| WASATCH ADVISORS LP | Added | +110.3k |
| NORGES BANK | Added | +77.4k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | Added | +76.3k |
Biggest sellers
| Invesco Ltd. | Reduced | -525.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -504.6k |
| Allspring Global Investments Holdings, LLC | Reduced | -267.1k |
| FMR LLC | Reduced | -255.6k |
| WELLINGTON MANAGEMENT GROUP LLP | Sold out | -207.5k |
| BlackRock, Inc. | Reduced | -155.8k |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -151.6k |
| EVENTIDE ASSET MANAGEMENT, LLC | Reduced | -149.6k |
| MORGAN STANLEY | Reduced | -136.2k |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -120.8k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $5.6m43.2k shares |
| CITADEL ADVISORS LLC | Reduced | $2.9m22.1k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $2.0m15.2k shares |
| JANE STREET GROUP, LLC | Reduced | $1.7m13.3k shares |
| K2 PRINCIPAL FUND, L.P. | Added | $1.2m9.1k shares |
| SIMPLEX TRADING, LLC | Added | $739.0k5.7k shares |
| Balyasny Asset Management L.P. | Reduced | $480.1k3.7k shares |
| WOLVERINE TRADING, LLC | Added | $476.7k3.6k shares |
| TUDOR INVESTMENT CORP ET AL | Reduced | $220.6k1.7k shares |
| Walleye Capital LLC | Reduced | $168.7k1.3k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $9.7m74.7k shares |
| CITADEL ADVISORS LLC | Reduced | $3.5m26.7k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $1.6m12.2k shares |
| WOLVERINE TRADING, LLC | Reduced | $860.7k6.5k shares |
| JANE STREET GROUP, LLC | Reduced | $402.3k3.1k shares |
| JPMORGAN CHASE & CO | New | $337.4k2.6k shares |
| SIMPLEX TRADING, LLC | Added | $246.0k1.9k shares |
| OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) | Not comparable | $85.5k10.0k shares |
| Walleye Capital LLC | Reduced | $64.9k500 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 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), WASATCH ADVISORS LP (0.5%, 2025-11-12)
Insider purchases and sales in Q2 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 |
|---|---|---|---|---|---|
| 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 |
| Q2 2025 | 1 | $148 | 3 | $316.9k | $57.6k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-05-19 | Rondoni John Officer | Sold | $259.0k1.7k shares |
| 2025-05-08 | Curet Myriam Director | Sold | $3062 shares |
| 2025-05-02 | mcCormick Shawn Director | Sold plan | $57.6k360 shares |
| 2025-04-07 | Curet Myriam Director | Bought | $1481 share |
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, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 3.9m $502.7m | Reduced -155.8k |
| VANGUARD GROUP INC 0.01% of their portfolio | 3.2m $415.7m | Reduced -22.1k |
| Dragoneer Investment Group, LLC 6.24% of their portfolio | 2.4m $305.5m | Added +1.1m |
| FMR LLC 0.02% of their portfolio | 2.3m $296.6m | Reduced -255.6k |
| WASATCH ADVISORS LP 1.11% of their portfolio | 1.6m $212.1m | Added +110.3k |
| BAILLIE GIFFORD & CO 0.11% of their portfolio | 1.1m $144.5m | Reduced -45.9k |
| STATE STREET CORP 0.01% of their portfolio | 1.0m $133.8m | Added +22.8k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.26% of their portfolio | 769.2k $99.8m | Added +76.3k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.83% of their portfolio | 693.2k $90.0m | Added +259.7k |
| JANUS HENDERSON GROUP PLC 0.04% of their portfolio | 640.9k $83.2m | Reduced -1.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 608.3k $78.9m | Reduced -504.6k |
| BRAIDWELL LP 2.32% of their portfolio | 522.4k $67.8m | Added +220.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 512.8k $66.6m | Added +1.6k |
| TimesSquare Capital Management, LLC 0.93% of their portfolio | 499.2k $64.8m | Added +23.0k |
| MACQUARIE GROUP LTD 0.08% of their portfolio | 495.6k $64.3m | Reduced -62.7k |
| BAMCO INC /NY/ 0.17% of their portfolio | 491.8k $63.8m | Added +69.1k |
| UBS Group AG 0.01% of their portfolio | 430.7k $55.9m | Reduced -54.5k |
| Champlain Investment Partners, LLC 0.37% of their portfolio | 412.1k $53.5m | Reduced -23.7k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 384.0k $49.8m | Reduced -15.7k |
| Man Group plc 0.11% of their portfolio | 380.3k $49.4m | Added +250.5k |
| CONGRESS ASSET MANAGEMENT CO 0.33% of their portfolio | 373.3k $48.4m | Added +65.8k |
| BROWN CAPITAL MANAGEMENT LLC 1.39% of their portfolio | 367.4k $47.7m | Added +15.1k |
| Artisan Partners Limited Partnership 0.07% of their portfolio | 362.3k $47.0m | Reduced -11.1k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 344.9k $44.8m | Added +67.2k |
| Invesco Ltd. 0.01% of their portfolio | 333.2k $43.2m | Reduced -525.3k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 327.8k $42.5m | Reduced -52.5k |
| MORGAN STANLEY 0.00% of their portfolio | 302.9k $39.3m | Reduced -136.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 283.6k $36.8m | Reduced -4.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 254.5k $33.0m | Added +148.1k |
| Aberdeen Group plc 0.05% of their portfolio | 243.1k $31.5m | Added +121.7k |
| NORGES BANK 0.00% of their portfolio | 239.4k $31.1m | Added +77.4k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 230.2k $29.9m | Reduced -6.3k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 228.6k $29.7m | Added +10.9k |
| FEDERATED HERMES, INC. 0.06% of their portfolio | 228.3k $29.6m | Added +2 |
| Connor, Clark & Lunn Investment Management Ltd. 0.10% of their portfolio | 212.7k $27.6m | Added +16.6k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 202.5k $26.3m | Reduced -57.9k |
| KEYBANK NATIONAL ASSOCIATION/OH 0.10% of their portfolio | 200.6k $26.0m | Reduced -439 |
| NEW YORK STATE COMMON RETIREMENT FUND 0.03% of their portfolio | 191.3k $24.8m | Added +8.5k |
| Amundi 0.01% of their portfolio | 184.0k $24.0m | Added +1.7k |
| VOYA INVESTMENT MANAGEMENT LLC 0.02% of their portfolio | 178.3k $23.1m | Reduced -151.6k |
| Eversept Partners, LP 2.15% of their portfolio | 164.5k $21.3m | Reduced -22.0k |
| Atika Capital Management LLC 2.19% of their portfolio | 161.9k $21.0m | Added +1.3k |
| EVENTIDE ASSET MANAGEMENT, LLC 0.36% of their portfolio | 156.7k $20.3m | Reduced -149.6k |
| Tri Locum Partners LP 5.88% of their portfolio | 149.2k $19.4m | Added +70.4k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 145.7k $18.9m | Reduced -2.1k |
| Bridgewater Associates, LP 0.07% of their portfolio | 141.6k $18.4m | Added +68.8k |
| DEERFIELD MANAGEMENT COMPANY, L.P. 0.33% of their portfolio | 140.0k $18.2m | New |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.07% of their portfolio | 136.9k $17.8m | Added +776 |
| SEI INVESTMENTS CO 0.02% of their portfolio | 133.1k $17.3m | Reduced -38.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio | 126.8k $16.5m | Reduced -63.9k |
| FRED ALGER MANAGEMENT, LLC 0.07% of their portfolio | 122.7k $15.9m | Added +65.2k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 121.4k $15.8m | Reduced -120.8k |
| RIVERBRIDGE PARTNERS LLC 0.24% of their portfolio | 113.9k $14.8m | Reduced -18.5k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 112.5k $14.6m | Reduced -9.6k |
| WCM INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio | 110.7k $14.7m | Added +37.9k |
| Thrivent Financial for Lutherans 0.03% of their portfolio | 110.7k $14.4m | Reduced -30.3k |
| Soleus Capital Management, L.P. 0.98% of their portfolio | 109.0k $14.1m | Added +70.0k |
| Rock Springs Capital Management LP 0.87% of their portfolio | 107.5k $14.0m | Added +8.2k |
| Public Sector Pension Investment Board 0.06% of their portfolio | 100.5k $13.0m | Added +6.4k |
| NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio | 99.8k $12.9m | Reduced -363 |
| Legal & General Group Plc 0.00% of their portfolio | 95.7k $12.4m | Added +1.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 94.1k $12.2m | Added +42.6k |
| GILDER GAGNON HOWE & CO LLC 0.13% of their portfolio | 91.8k $11.9m | Reduced -91.9k |
| Bellevue Group AG 0.22% of their portfolio | 75.7k $9.8m | Reduced -23.4k |
| Point72 Asset Management, L.P. 0.02% of their portfolio | 75.4k $9.8m | New |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 72.1k $9.4m | Added +16.5k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 70.8k $9.2m | Reduced -780 |
| Integral Health Asset Management, LLC 0.85% of their portfolio | 70.0k $9.1m | Added +5.0k |
| CAPITAL FUND MANAGEMENT S.A. 0.10% of their portfolio | 68.7k $8.9m | Added +21.0k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio | 68.5k $8.9m | Added +669 |
| MAIRS & POWER INC 0.09% of their portfolio | 67.8k $8.8m | Reduced -3.0k |
| Magnetar Financial LLC 0.04% of their portfolio | 67.4k $8.7m | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 63.6k $8.3m | Added +7.2k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 62.7k $8.1m | Reduced -16.2k |
| Edgestream Partners, L.P. 0.22% of their portfolio | 60.2k $7.8m | Added +55.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 59.8k $7.8m | Added +118 |
| Mitsubishi UFJ Trust & Banking Corp 0.02% of their portfolio | 57.6k $7.5m | Reduced -9.9k |
| Swiss National Bank 0.00% of their portfolio | 56.8k $7.4m | Reduced -1.3k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 56.6k $7.3m | Added +38.2k |
| M&G PLC 0.04% of their portfolio | 52.9k $6.9m | Added +15 |
| INTECH INVESTMENT MANAGEMENT LLC 0.06% of their portfolio | 52.6k $6.8m | Added +18.5k |
| Rheos Capital Works Inc. 0.39% of their portfolio | 52.4k $6.8m | Unchanged |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.02% of their portfolio | 51.8k $6.7m | Added +4.5k |
| CITIGROUP INC 0.00% of their portfolio | 51.5k $6.7m | Added +27.7k |
| KORNITZER CAPITAL MANAGEMENT INC /KS 0.13% of their portfolio | 50.2k $6.5m | Unchanged |
| Impax Asset Management Group plc 0.04% of their portfolio | 50.0k $6.5m | Unchanged |
| CW Advisors, LLC 0.06% of their portfolio | 50.0k $6.5m | Added +15.6k |
| Nuveen, LLC 0.00% of their portfolio | 48.0k $6.2m | Reduced -88.6k |
| JENNISON ASSOCIATES LLC 0.00% of their portfolio | 45.4k $5.9m | Reduced -21.2k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.04% of their portfolio | 42.7k $5.5m | Reduced -2.3k |
| COMERICA BANK 0.02% of their portfolio | 41.0k $5.3m | Added +17.1k |
| Kopp Family Office, LLC 3.41% of their portfolio | 40.6k $5.3m | Reduced -427 |
| Beck Bode, LLC 0.89% of their portfolio | 40.5k $5.3m | Added +4.0k |
| Allspring Global Investments Holdings, LLC 0.01% of their portfolio | 39.6k $5.2m | Reduced -267.1k |
| California Public Employees Retirement System 0.00% of their portfolio | 38.5k $5.0m | Added +5 |
| Bullseye Asset Management LLC 2.34% of their portfolio | 36.1k $4.7m | Unchanged |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 31.9k $4.1m | Reduced -2.3k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 31.7k $4.1m | Added +557 |
| Rhenman & Partners Asset Management AB 0.50% of their portfolio | 30.5k $4.0m | Added +14.5k |
| Baird Financial Group, Inc. 0.01% of their portfolio | 28.8k $3.7m | Reduced -2.5k |