Public Employees Retirement System of Ohio Boosts Stake in Inspire Medical Systems, Inc. $INSP

Public Employees Retirement System of Ohio boosted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 9.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 51,777 shares of the company’s stock after purchasing an additional 4,477 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.18% of Inspire Medical Systems worth $6,719,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Inspire Medical Systems by 14.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 603 shares of the company’s stock valued at $78,000 after purchasing an additional 77 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Inspire Medical Systems by 1.6% during the first quarter. Allianz Asset Management GmbH now owns 5,000 shares of the company’s stock worth $796,000 after acquiring an additional 78 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Inspire Medical Systems by 27.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 454 shares of the company’s stock valued at $71,000 after purchasing an additional 97 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Inspire Medical Systems by 4.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,419 shares of the company’s stock valued at $385,000 after buying an additional 109 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of Inspire Medical Systems by 1.7% during the first quarter. Bessemer Group Inc. now owns 7,183 shares of the company’s stock worth $1,145,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on INSP shares. Morgan Stanley cut their price objective on Inspire Medical Systems from $200.00 to $182.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 15th. Truist Financial reaffirmed a “hold” rating and set a $125.00 price objective (down previously from $190.00) on shares of Inspire Medical Systems in a research report on Tuesday, August 5th. UBS Group set a $89.00 price objective on shares of Inspire Medical Systems and gave the stock a “neutral” rating in a research note on Monday, September 22nd. Leerink Partners dropped their target price on Inspire Medical Systems from $116.00 to $97.00 and set a “market perform” rating on the stock in a research report on Friday, August 15th. Finally, KeyCorp cut Inspire Medical Systems from an “overweight” rating to a “sector weight” rating in a report on Tuesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $154.43.

Insiders Place Their Bets

In other news, CFO Richard Buchholz sold 11,000 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were 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 directly owned 44,867 shares of the company’s stock, valued at $4,190,129.13. This represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by company insiders.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $77.07 on Monday. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 44.55, a price-to-earnings-growth ratio of 2.41 and a beta of 1.15. Inspire Medical Systems, Inc. has a 1 year low of $73.92 and a 1 year high of $216.01. The firm’s 50 day moving average price is $94.61 and its two-hundred day moving average price is $127.41.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 business 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 posted $0.32 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. As a group, equities analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Inspire Medical Systems announced that its board has initiated a share repurchase plan on Monday, August 11th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 8.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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.