INSPNYSESurgical & Medical Instruments & ApparatusFiscal year ends December 31
Inspire Medical Systems, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 3, 2026
$70.15+1.36 (+1.98%)
Close on Oct 19, 2026
- Market cap
- $2.03B
- P/E (TTM)
- 15.2
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
38M of 29M shares
Institutional holders
275
69 new, 90 sold out
Net institutional buying
3M
In Q2 2026
Insider trades, 12 months
0 buys · 7 sales
Net sold $665.95K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 4,163,016 | 14.40% | 13G (passive) amendment | Jun 30, 2026 |
| Wellington Management Company LLP | 2,535,954 | 8.60% | 13G (passive) amendment | Mar 31, 2026 |
| Marc Stad | 2,354,411 | 8.00% | 13G (passive) | Jun 30, 2025 |
| Wellington Investment Advisors Holdings LLP | 2,211,091 | 7.60% | 13G (passive) | Dec 31, 2025 |
| Vanguard Portfolio Management | 2,126,116 | 7.37% | 13G (passive) amendment | Jun 30, 2026 |
| Guy Levy | 1,931,436 | 6.70% | 13G (passive) amendment | Jun 30, 2026 |
| AQR Capital Management Holdings, LLC | 1,856,800 | 6.44% | 13G (passive) | Jun 30, 2026 |
| David E. Shaw | 1,483,107 | 5.10% | 13G (passive) | Jun 25, 2026 |
| Deerfield Partners, L.P. | 1,476,303 | 5.08% | 13G (passive) | Nov 6, 2025 |
| Vanguard Capital Management | 1,469,703 | 5.10% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of INSP | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 4,737,519 | 16.39% | $211.34M | +1,187,965 | 0.00% |
| Wellington Management Group Llp | 2,382,660 | 8.24% | $106.29M | −153,294 | 0.02% |
| Vanguard Portfolio Management LLC | 2,088,961 | 7.23% | $93.19M | +451,788 | 0.00% |
| Soleus Capital Management, L.P. | 1,931,436 | 6.68% | $86.16M | +1,355,137 | 2.97% |
| Aqr Capital Management LLC | 1,856,800 | 6.42% | $80.94M | +1,548,138 | 0.03% |
| Assenagon Asset Management S.A. | 1,728,790 | 5.98% | $77.12M | +1,208,616 | 0.05% |
| UBS Group AG | 1,645,511 | 5.69% | $73.41M | +1,006,583 | 0.01% |
| D. E. Shaw & Co., Inc. | 1,470,462 | 5.09% | $65.60M | +281,925 | 0.03% |
| Nomura Holdings Inc | 1,369,410 | 4.74% | $61.09M | New | 0.07% |
| Deerfield Management Company, L.P. (Series C) | 1,296,862 | 4.49% | $57.85M | −1,406,376 | 0.60% |
| Vanguard Capital Management LLC | 1,270,928 | 4.40% | $56.70M | +4,190 | 0.00% |
| State Street Corp | 1,206,494 | 4.17% | $53.82M | +250,483 | 0.00% |
| Morgan Stanley | 791,222 | 2.74% | $35.30M | −659,412 | 0.00% |
| Artisan Partners Limited Partnership | 732,323 | 2.53% | $32.67M | −48,252 | 0.05% |
| Geode Capital Management, LLC | 700,836 | 2.42% | $31.27M | +190,602 | 0.00% |
| Braidwell LP | 677,570 | 2.34% | $30.23M | – | 1.12% |
| Goldman Sachs Group Inc | 645,858 | 2.23% | $28.81M | −18,145 | 0.00% |
| UBS Asset Management Americas Inc | 546,020 | 1.89% | $24.36M | +97,233 | 0.00% |
| Nantahala Capital Management, LLC | 538,948 | 1.86% | $24.04M | New | 0.40% |
| Citadel Advisors LLC | 506,334 | 1.75% | $22.59M | +112,258 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 275 | 38M | 100.0% | 69 / 97 | 76 / 90 | 13M | 10M |
| Q1 2026 | 301 | 35M | 100.0% | 59 / 119 | 100 / 94 | 11M | 7M |
| Q4 2025 | 343 | 35M | 100.0% | 93 / 115 | 113 / 69 | 12M | 8M |
| Q3 2025 | 325 | 31M | 100.0% | 66 / 96 | 133 / 94 | 10M | 13M |
| Q2 2025 | 356 | 34M | 100.0% | 48 / 131 | 141 / 52 | 4M | 4M |
| Q1 2025 | 363 | 34M | 100.0% | 58 / 141 | 113 / 50 | 4M | 3M |
| Q4 2024 | 357 | 33M | 100.0% | 60 / 119 | 127 / 44 | 4M | 5M |
| Q3 2024 | 347 | 34M | 100.0% | 80 / 116 | 109 / 55 | 8M | 5M |
| Q2 2024 | 325 | 32M | 100.0% | 71 / 120 | 99 / 70 | 7M | 6M |
| Q1 2024 | 327 | 33M | 100.0% | 43 / 124 | 108 / 55 | 5M | 4M |
| Q4 2023 | 343 | 32M | 100.0% | 64 / 120 | 121 / 80 | 9M | 6M |
| Q3 2023 | 364 | 28M | 98.5% | 49 / 145 | 121 / 88 | 6M | 6M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of INSP | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Health Care Fund | 2,093,826 | 7.24% | $105.13M | 0.28% | Jul 31, 2026 |
| iShares Core S&P Small-Cap ETF | 1,580,006 | 5.47% | $70.48M | 0.06% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 914,149 | 3.16% | $40.78M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 750,558 | 2.60% | $33.48M | 0.04% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 660,263 | 2.28% | $29.45M | 0.02% | Jun 30, 2026 |
| Artisan International Small-Mid Fund | 456,014 | 1.58% | $20.34M | 0.80% | Jun 30, 2026 |
| Vanguard Small-Cap Growth Index Fund | 379,022 | 1.31% | $16.91M | 0.04% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 317,411 | 1.10% | $15.94M | 0.05% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 302,273 | 1.05% | $13.48M | 0.01% | Jun 30, 2026 |
| State Street(R) SPDR(R) Portfolio S&P 600(TM) Small Cap ETF | 240,113 | 0.83% | $10.71M | 0.06% | Jun 30, 2026 |
| Federated Hermes MDT Mid Cap Growth Fund | 236,764 | 0.82% | $11.89M | 0.18% | Jul 31, 2026 |
| iShares S&P Small-Cap 600 Growth ETF | 234,886 | 0.81% | $10.48M | 0.13% | Jun 30, 2026 |
| iShares Russell 2000 Growth ETF | 232,083 | 0.80% | $10.35M | 0.07% | Jun 30, 2026 |
| Vanguard Strategic Equity Fund | 230,603 | 0.80% | $10.29M | 0.08% | Jun 30, 2026 |
| Vanguard Explorer Fund | 182,216 | 0.63% | $9.15M | 0.04% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Timothy P. Herbert | CEO and President, Director | 105,349 | 0.36% | Feb 24, 2026 |
| Jason P. Kelly | See Remarks | 25,335 | 0.09% | Sep 2, 2026 |
| Melissa Mann | Chief People Officer | 22,957 | 0.08% | Aug 4, 2026 |
| John Rondoni | See Remarks | 27,165 | 0.09% | May 19, 2026 |
| Bryan K. Phillips | See Remarks | 38,513 | 0.13% | Feb 24, 2026 |
| Carlton Weatherby | See Remarks | 41,679 | 0.14% | Feb 24, 2026 |
| Matthew J. Osberg | Chief Financial Officer | 19,794 | 0.07% | Feb 24, 2026 |
| Richard Buchholz | Interim CFO | 45,463 | 0.16% | Feb 18, 2026 |
| Randy Ban | See Remarks | 9,303 | 0.03% | Mar 5, 2025 |
| Michael H. Carrel | Director | 5,631 | 0.02% | Jul 27, 2026 |
| Casey M. Tansey | Director | 27,132 | 0.09% | Jul 17, 2026 |
| Shelley G. Broader | Director | 8,854 | 0.03% | Jul 17, 2026 |
| Georgia Melenikiotou | Director | 8,329 | 0.03% | Jul 17, 2026 |
| Gary Lee Ellis | Director | 11,419 | 0.04% | Jul 17, 2026 |
| Shawn mcCormick | Director | 30,712 | 0.11% | May 11, 2026 |
| Cynthia Burks | Director | 6,213 | 0.02% | May 4, 2026 |
| Dana G. Mead Jr. | Director | 26,213 | 0.09% | May 4, 2026 |
| Myriam Curet | Director | 6,927 | 0.02% | May 4, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Jason P. Kelly See Remarks | Aug 31, 2026 | Award | +6,350 | – | – | 25,335 |
| Jason P. Kelly See Remarks | Aug 7, 2026 | Sale | −963 | $59.55 | $57.35K | 18,985 |
| Melissa Mann Chief People Officer | Jul 31, 2026 | Tax withholding | −326 | $50.21 | $16.37K | 22,957 |
| Michael H. Carrel Director | Jul 20, 2026 | Award | +5,631 | – | – | 5,631 |
| Shelley G. Broader Director | Jul 15, 2026 | Award | +383 | – | – | 8,854 |
| Georgia Melenikiotou Director | Jul 15, 2026 | Award | +344 | – | – | 8,329 |
| Casey M. Tansey Director | Jul 15, 2026 | Award | +346 | – | – | 26,632 |
| Gary Lee Ellis Director | Jul 15, 2026 | Award | +581 | – | – | 11,419 |
| John Rondoni See Remarks | May 15, 2026 | Sale | −2,641 | $43.28 | $114.30K | 27,165 |
| John Rondoni See Remarks | May 14, 2026 | Sale | −700 | $43.01 | $30.11K | 29,806 |
| Shawn mcCormick Director | May 8, 2026 | Sale(10b5-1 plan) | −696 | $45.31 | $31.54K | 27,712 |
| Georgia Melenikiotou Director | May 1, 2026 | Tax withholding | −50 | $56.70 | $2.84K | 7,985 |
| Dana G. Mead Jr. Director | Apr 30, 2026 | Award | +3,562 | – | – | 26,213 |
| Georgia Melenikiotou Director | Apr 30, 2026 | Award | +3,562 | – | – | 8,035 |
| Shelley G. Broader Director | Apr 30, 2026 | Award | +3,562 | – | – | 8,471 |
| Myriam Curet Director | Apr 30, 2026 | Award | +3,562 | – | – | 6,927 |
| Cynthia Burks Director | Apr 30, 2026 | Award | +3,562 | – | – | 6,213 |
| Gary Lee Ellis Director | Apr 30, 2026 | Award | +3,562 | – | – | 10,838 |
| Casey M. Tansey Director | Apr 30, 2026 | Award | +3,562 | – | – | 26,286 |
| Shawn mcCormick Director | Apr 30, 2026 | Award | +3,562 | – | – | 28,408 |
| Gary Lee Ellis Director | Apr 15, 2026 | Award | +518 | $52.07 | $26.97K | 7,276 |
| Casey M. Tansey Director | Apr 15, 2026 | Award | +308 | $52.07 | $16.04K | 22,724 |
| Georgia Melenikiotou Director | Apr 15, 2026 | Award | +307 | $52.07 | $15.99K | 4,473 |
| Shelley G. Broader Director | Apr 15, 2026 | Award | +342 | $52.07 | $17.81K | 4,909 |
| Jason P. Kelly See Remarks | Feb 20, 2026 | Award | +15,958 | – | – | 19,948 |
| Timothy P. Herbert CEO and President, Director | Feb 20, 2026 | Award | +9,005 | – | – | 41,691 |
| Timothy P. Herbert CEO and President, Director | Feb 20, 2026 | Tax withholding | −4,010 | $59.53 | $238.72K | 37,681 |
| Timothy P. Herbert CEO and President, Director | Feb 20, 2026 | Award | +62,153 | – | – | 99,834 |
| Carlton Weatherby See Remarks | Feb 20, 2026 | Award | +12,598 | – | – | 41,679 |
| Carlton Weatherby See Remarks | Feb 20, 2026 | Award | +20,997 | – | – | 29,081 |
| Carlton Weatherby See Remarks | Feb 20, 2026 | Tax withholding | −672 | $59.53 | $40.00K | 8,084 |
| Carlton Weatherby See Remarks | Feb 20, 2026 | Award | +2,196 | – | – | 8,756 |
| Bryan K. Phillips See Remarks | Feb 20, 2026 | Award | +8,399 | – | – | 38,513 |
| Bryan K. Phillips See Remarks | Feb 20, 2026 | Award | +15,958 | – | – | 30,114 |
| Bryan K. Phillips See Remarks | Feb 20, 2026 | Tax withholding | −735 | $59.53 | $43.75K | 14,156 |
| Bryan K. Phillips See Remarks | Feb 20, 2026 | Award | +2,400 | – | – | 14,891 |
| John Rondoni See Remarks | Feb 20, 2026 | Award | +2,400 | – | – | 15,283 |
| John Rondoni See Remarks | Feb 20, 2026 | Tax withholding | −735 | $59.53 | $43.75K | 14,548 |
| John Rondoni See Remarks | Feb 20, 2026 | Award | +15,958 | – | – | 30,506 |
| Melissa Mann Chief People Officer | Feb 20, 2026 | Award | +15,958 | – | – | 23,609 |
| Carlton Weatherby See Remarks | Feb 13, 2026 | Tax withholding | −570 | $59.76 | $34.06K | 6,560 |
| John Rondoni See Remarks | Feb 13, 2026 | Tax withholding | −587 | $59.76 | $35.08K | 12,883 |
| Bryan K. Phillips See Remarks | Feb 13, 2026 | Tax withholding | −579 | $59.76 | $34.60K | 12,491 |
| Melissa Mann Chief People Officer | Feb 13, 2026 | Tax withholding | −615 | $59.76 | $36.75K | 7,651 |
| Richard Buchholz Interim CFO | Feb 13, 2026 | Tax withholding | −579 | $59.76 | $34.60K | 43,988 |
| Jason P. Kelly See Remarks | Feb 13, 2026 | Tax withholding | −551 | $59.76 | $32.93K | 3,990 |
| Timothy P. Herbert CEO and President, Director | Feb 13, 2026 | Tax withholding | −1,635 | $59.76 | $97.71K | 32,686 |
| Carlton Weatherby See Remarks | Feb 9, 2026 | Tax withholding | −327 | $66.33 | $21.69K | 7,130 |
| John Rondoni See Remarks | Feb 9, 2026 | Tax withholding | −327 | $66.33 | $21.69K | 13,470 |
| Timothy P. Herbert CEO and President, Director | Feb 9, 2026 | Tax withholding | −968 | $66.33 | $64.21K | 34,321 |
| Bryan K. Phillips See Remarks | Feb 9, 2026 | Tax withholding | −327 | $66.33 | $21.69K | 13,070 |
| Richard Buchholz Interim CFO | Feb 9, 2026 | Tax withholding | −327 | $66.33 | $21.69K | 44,567 |
| Shelley G. Broader Director | Jan 15, 2026 | Award | +200 | $96.47 | $19.29K | 4,567 |
| Casey M. Tansey Director | Jan 15, 2026 | Award | +181 | $96.47 | $17.46K | 22,416 |
| Georgia Melenikiotou Director | Jan 15, 2026 | Award | +180 | $96.47 | $17.36K | 4,166 |
| Gary Lee Ellis Director | Jan 15, 2026 | Award | +304 | $96.47 | $29.33K | 6,758 |
| John Rondoni See Remarks | Jan 9, 2026 | Sale(10b5-1 plan) | −109 | $100.00 | $10.90K | 13,797 |
| Shawn mcCormick Director | Dec 2, 2025 | Sale(10b5-1 plan) | −1,200 | $139.00 | $166.80K | 24,846 |
| Shawn mcCormick Director | Nov 28, 2025 | Sale(10b5-1 plan) | −2,000 | $127.48 | $254.96K | 26,046 |
| Georgia Melenikiotou Director | Oct 14, 2025 | Award | +229 | $78.84 | $18.05K | 3,986 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Rondoni John Officer | Aug 24, 2026 | 64 | $3.99K | Aug 24, 2026 | Employee Stock Purchase Plan |
| P. Kelly Jason Officer | Aug 7, 2026 | 963 | $57.34K | Aug 7, 2026 | Restricted Stock |
| Rondoni John Officer | May 15, 2026 | 2,641 | $114.30K | May 15, 2026 | Restricted stock vesting under a registered plan |
| Rondoni John Officer | May 14, 2026 | 700 | $30.11K | May 14, 2026 | Restricted stock vesting under a registered plan |
| T. McCormick Shawn Director | May 8, 2026 | 696 | $31.72K | May 8, 2026 | Restricted Stock Units |
| Rondoni John Officer | Jan 9, 2026 | 109 | $10.36K | Jan 9, 2026 | Employee Stock Purchase Plan |
| T. McCormick Shawn Director | Dec 2, 2025 | 1,200 | $151.61K | Dec 2, 2025 | Previously Exercised Stock Options |
| T. McCormick Shawn Director | Nov 28, 2025 | 2,000 | $254.66K | Nov 28, 2025 | Previously Exercised Stock Options |
| Richard Buchholz Officer | Aug 29, 2025 | 11,000 | $1.03M | Aug 29, 2025 | OPTION EXERCISE |
| Rondoni John Officer | May 19, 2025 | 1,734 | $259.02K | May 19, 2025 | Exercised Shares |
| T. McCormick Shawn Director | May 2, 2025 | 360 | $56.84K | May 2, 2025 | Restricted Stock Units |
| Rondoni John Officer | Mar 3, 2025 | 2,287 | $424.47K | Mar 3, 2025 | Performance Shares |
| Ban Randall Officer | Feb 28, 2025 | 3,947 | $726.33K | Feb 28, 2025 | Performance Stock Units |
| Ban Randall Officer | Feb 13, 2025 | 25,584 | $4.78M | Feb 13, 2025 | Exercise of Stock Options |
| Rondoni John Officer | Feb 11, 2025 | 583 | $99.40K | Feb 11, 2025 | Restricted Stock |