Inspire Medical Systems (INSP)
Uses hypoglossal-nerve stimulation to treat obstructive sleep apnea.
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Develops and commercializes Inspire, an implantable closed-loop therapy for obstructive sleep apnea. The single-therapy business is moving to the Inspire V system, with coverage, regulatory approvals, implanting-center adoption, and manufacturing execution shaping commercialization.
Implantable Inspire therapy addresses obstructive sleep apnea through a closed-loop system that monitors breathing and stimulates the hypoglossal nerve to help keep the airway open. The system includes an implantable pulse generator, stimulation and sensing leads, a physician programmer, and a patient remote. It is intended for qualifying people who cannot use or tolerate PAP or BiPAP.
The business centers on a single therapy, has expanded its regulatory reach, and completed the Inspire V launch. The current system refresh adds a next-generation neurostimulator, Bluetooth patient remote, and physician programmer. Commercial acceptance, reimbursement coverage, adoption by implanting centers, regulatory approvals, component supply, and manufacturing execution shape the business.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 11, 2026 | Stifel Nicolaus | Target | Target: $75 | Target: $80 |
| Aug 4, 2026 | Evercore ISI | Target | Target: $40 | Target: $54 |
| Aug 4, 2026 | Truist Financial | Target | Target: $54 | Target: $62 |
| Aug 4, 2026 | RBC Capital | Reiterate | Rating: —Target: $45 | Target: $60 |
| Aug 4, 2026 | Stifel Nicolaus | Target | Target: $70 | Target: $75 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $320.7M · Total debt $29.1M · Total assets $926.0M · Shareholders' equity $825.6M
- Revenue
- $200.6M
- Operating income
- −$514.0K
- Net income
- $314.0K
No dividends on record.
| Institutions | 128.96% | 37.28M shares | |
|---|---|---|---|
| 285 holders · as of Jun 30, 2026 | |||
| Insiders | 6.43% | 1.86M shares | |
| 19 holders · as of Sep 2, 2026 | |||
| Adds to | 135.39% | ||
28.91M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 135.39%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 16.39% | 4.74M | as of Jun 30, 2026 |
Wellington Management Group LLPInstitution | 8.24% | 2.38M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 7.23% | 2.09M | as of Jun 30, 2026 |
Soleus Capital Management, L.P.Institution | 6.68% | 1.93M | as of Jun 30, 2026 |
AQR Capital Management LLCInstitution | 6.42% | 1.86M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | Jason P. Kelly | officer: See Remarks | −963 | $59.55 |
| May 15, 2026 | John Rondoni | officer: See Remarks | −2,641 | $43.28 |
| May 14, 2026 | John Rondoni | officer: See Remarks | −700 | $43.01 |
| May 8, 2026 | Shawn mcCormick | director | −696 | $45.31 |
| Jan 9, 2026 | John Rondoni | officer: See Remarks | −109 | $100.00 |
- Nyxoah
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- ResMed
PAP devices and masks for OSA first-line treatment
- Five Point
OSA masks in a global homecare respiratory portfolio
- Vivos Therapeutics
FDA-cleared CARE oral appliances for adult OSA
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Inspire Medical Systems | $71.29 | +0.06% | $2.19B | 16.4 | 54.8 | 2.4 | −7.6% |
| Nyxoah | $1.47 | +5.00% | $148.1M | — | — | 5.7 | +455.6% |
| LivaNova | $78.92 | +0.62% | $4.29B | 23.1 | 17.8 | 2.9 | +10.8% |
| ResMed | $221.97 | 0.00% | $32.44B | 21.5 | 18.2 | 5.7 | +8.6% |
| Five Point | $4.92 | −0.40% | $349.8M | 14.1 | — | 3.0 | +157.8% |
| Vivos Therapeutics | $0.1588 | +3.79% | $2.2M | — | — | 0.1 | +34.9% |
| Median | 21.5 | 18.0 | 3.0 | +34.9% |