Exchange Traded Concepts LLC Has $1.45 Million Holdings in Inspire Medical Systems, Inc. $INSP

Exchange Traded Concepts LLC raised its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 4.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,177 shares of the company’s stock after purchasing an additional 471 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Inspire Medical Systems were worth $1,450,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fox Hill Wealth Management boosted its holdings in shares of Inspire Medical Systems by 23.8% during the 2nd quarter. Fox Hill Wealth Management now owns 5,845 shares of the company’s stock worth $758,000 after buying an additional 1,122 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Inspire Medical Systems by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company’s stock valued at $8,190,000 after purchasing an additional 18,857 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Inspire Medical Systems by 5.3% during the 1st quarter. Voya Investment Management LLC now owns 164,936 shares of the company’s stock valued at $26,271,000 after purchasing an additional 8,361 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Inspire Medical Systems during the 1st quarter valued at $5,279,000. Finally, Intech Investment Management LLC increased its position in shares of Inspire Medical Systems by 166.4% during the 1st quarter. Intech Investment Management LLC now owns 34,094 shares of the company’s stock valued at $5,430,000 after purchasing an additional 21,297 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Trading Down 1.2%

Shares of NYSE INSP opened at $78.96 on Tuesday. The business has a 50-day moving average of $98.63 and a 200-day moving average of $129.96. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 45.64, a PEG ratio of 2.49 and a beta of 1.15. Inspire Medical Systems, Inc. has a 12 month low of $73.92 and a 12 month high of $218.52.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. The company had revenue of $217.09 million during the quarter, compared to the consensus estimate of $214.50 million. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.Inspire Medical Systems’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. On average, analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

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

Insiders Place Their Bets

In related news, CFO Richard Buchholz sold 11,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $93.39, for a total value of $1,027,290.00. Following the completion of the sale, the chief financial officer owned 44,867 shares in the company, valued at $4,190,129.13. The trade was a 19.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stifel Nicolaus set a $140.00 price objective on Inspire Medical Systems and gave the stock a “hold” rating in a report on Tuesday, August 5th. Royal Bank Of Canada decreased 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. Leerink Partners decreased their price objective on Inspire Medical Systems from $116.00 to $97.00 and set a “market perform” rating for the company in a report on Friday, August 15th. Truist Financial reissued a “hold” rating and issued a $125.00 price objective (down previously from $190.00) on shares of Inspire Medical Systems in a report on Tuesday, August 5th. Finally, Piper Sandler decreased 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. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $154.43.

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.