SCHEDULE 13G/A: BlackRock Discloses 11.3% Stake in Inspire Medical Systems
Beneficial Ownership Report
BlackRock, Inc. has reported an 11.3% beneficial ownership stake in Inspire Medical Systems Inc., holding over 3.3 million shares of common stock.
Summary
- BlackRock, Inc. filed an Amendment No. 6 to Schedule 13G, disclosing its beneficial ownership in Inspire Medical Systems Inc.
- As of September 30, 2025, BlackRock, Inc. beneficially owned 3,353,407 shares of Inspire Medical Systems Inc. common stock.
- This aggregate amount represents 11.3% of the class of securities outstanding.
- BlackRock, Inc. holds sole voting power over 3,283,122 shares and sole dispositive power over 3,353,407 shares.
- No shared voting or dispositive power was reported.
- The filing indicates that iShares Core S&P Small-Cap ETF, a BlackRock affiliate, holds more than 5% of the total outstanding common stock of Inspire Medical Systems Inc.
- The filing was made under Rule 13d-1(b), indicating the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
Sentiment
Score: 5
Explanation: The filing is a factual disclosure of beneficial ownership, providing no direct positive or negative operational news for Inspire Medical Systems Inc. The presence of a major institutional investor like BlackRock is generally viewed as a neutral to slightly positive signal for market confidence.
Positives
- Significant institutional ownership by BlackRock, a major global asset manager, may signal confidence in Inspire Medical Systems Inc.'s long-term prospects.
- The filing indicates BlackRock's stake is for ordinary course of business, not for control-influencing purposes, suggesting a passive investment strategy.
Risks
- The filing itself does not detail specific business risks for Inspire Medical Systems Inc., as it is an ownership disclosure.
Future Outlook
This filing does not contain any forward-looking statements or guidance regarding Inspire Medical Systems Inc.'s future performance or strategic direction.
Management Comments
- BlackRock, Inc. certifies that, to the best of its knowledge and belief, the securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.
Industry Context
This filing reflects a significant institutional investment by BlackRock, a leading global asset manager, in Inspire Medical Systems Inc., a company operating in the medical technology sector, specifically focusing on sleep apnea solutions. Such disclosures are common for large asset managers as their holdings in various public companies cross regulatory thresholds.
Comparison to Industry Standards
- This filing is a standard regulatory disclosure of beneficial ownership and does not provide operational or financial results for direct comparison to industry benchmarks.
- However, BlackRock's substantial stake positions it as a significant institutional holder, a common occurrence for well-established companies in growing sectors like medical devices.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update (BlackRock, Inc.) | BlackRock, Inc. executed a new Power of Attorney, effective January 21, 2025, revoking a previous one dated April 30, 2023. This grants specific individuals the authority to execute and file ownership or control-person reporting requirements on behalf of BlackRock and its affiliates. | 01/21/2025 | This is an internal corporate governance update for BlackRock, Inc., streamlining its regulatory filing processes. It does not directly impact the corporate governance of Inspire Medical Systems Inc. |
Stakeholder Impact
- Shareholders: Increased institutional ownership by a prominent firm like BlackRock may enhance market confidence and perception of the company's stability and investment appeal.
Key Dates
| Date | Description |
|---|---|
| 04/30/2023 | Date of previous Power of Attorney for BlackRock, Inc. that was revoked. |
| 01/21/2025 | Effective date of the new Power of Attorney for BlackRock, Inc. |
| 09/30/2025 | Date of event which requires filing of this statement (beneficial ownership reporting date). |
| 10/17/2025 | Signature date of the Schedule 13G filing by BlackRock, Inc. |
Keywords
Inspire Medical Systems, BlackRock, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Medical Devices, Sleep Apnea, Healthcare
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