Vanguard Group Inc. Sells 44,712 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Vanguard Group Inc. cut its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,225,645 shares of the company’s stock after selling 44,712 shares during the period. Vanguard Group Inc. owned about 10.94% of Inspire Medical Systems worth $513,781,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of INSP. Wells Fargo & Company MN grew its holdings in shares of Inspire Medical Systems by 13.3% in the fourth quarter. Wells Fargo & Company MN now owns 19,013 shares of the company’s stock valued at $3,525,000 after acquiring an additional 2,230 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Inspire Medical Systems by 7.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 25,667 shares of the company’s stock valued at $4,758,000 after purchasing an additional 1,752 shares during the period. Russell Investments Group Ltd. grew its holdings in Inspire Medical Systems by 1,083.9% during the fourth quarter. Russell Investments Group Ltd. now owns 18,126 shares of the company’s stock valued at $3,360,000 after purchasing an additional 16,595 shares during the period. Bank of Montreal Can grew its holdings in Inspire Medical Systems by 30.8% during the fourth quarter. Bank of Montreal Can now owns 4,522 shares of the company’s stock valued at $838,000 after purchasing an additional 1,064 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in Inspire Medical Systems by 0.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 12,884 shares of the company’s stock valued at $2,388,000 after purchasing an additional 90 shares during the period. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $84.68 on Friday. Inspire Medical Systems, Inc. has a one year low of $73.92 and a one year high of $225.00. The business has a fifty day moving average price of $122.56 and a 200-day moving average price of $149.03. The firm has a market capitalization of $2.50 billion, a P/E ratio of 48.95, a PEG ratio of 2.72 and a beta of 1.22.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%. The firm had revenue of $217.09 million during the quarter, compared to analyst estimates of $214.50 million. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems announced that its Board of Directors has initiated a share buyback program on Monday, August 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

INSP has been the subject of several research reports. Piper Sandler reduced their price objective on Inspire Medical Systems from $233.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, August 5th. JPMorgan Chase & Co. lowered Inspire Medical Systems from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $195.00 to $110.00 in a report on Tuesday, August 5th. Stifel Nicolaus set a $140.00 price objective on Inspire Medical Systems and gave the company a “hold” rating in a report on Tuesday, August 5th. Royal Bank Of Canada reduced their price objective on Inspire Medical Systems from $215.00 to $180.00 and set an “outperform” rating for the company in a report on Tuesday, August 5th. Finally, Wall Street Zen lowered Inspire Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.31.

Inspire Medical Systems Profile

Inspire Medical Systems, Inc, a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.