Fifth Third Bancorp Sells 1,122 Shares of Inspire Medical Systems, Inc. $INSP

Fifth Third Bancorp lessened its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 41.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,576 shares of the company’s stock after selling 1,122 shares during the period. Fifth Third Bancorp’s holdings in Inspire Medical Systems were worth $205,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of Inspire Medical Systems by 14.7% during the first quarter. SG Americas Securities LLC now owns 4,055 shares of the company’s stock valued at $646,000 after acquiring an additional 521 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Inspire Medical Systems by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company’s stock valued at $8,190,000 after acquiring an additional 18,857 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Inspire Medical Systems by 253.7% during the first quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock valued at $91,000 after acquiring an additional 411 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Inspire Medical Systems by 132.7% during the first quarter. New York State Teachers Retirement System now owns 21,390 shares of the company’s stock valued at $3,407,000 after acquiring an additional 12,196 shares in the last quarter. Finally, Bayforest Capital Ltd raised its stake in shares of Inspire Medical Systems by 2,465.9% during the first quarter. Bayforest Capital Ltd now owns 5,491 shares of the company’s stock valued at $875,000 after acquiring an additional 5,277 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on INSP. Truist Financial reaffirmed a “hold” rating and set a $125.00 price target (down previously from $190.00) on shares of Inspire Medical Systems in a research note on Tuesday, August 5th. KeyCorp downgraded shares of Inspire Medical Systems from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, August 5th. Royal Bank Of Canada cut their price objective on shares of Inspire Medical Systems from $215.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday, August 5th. Wall Street Zen lowered shares of Inspire Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Evercore ISI assumed coverage on shares of Inspire Medical Systems in a report on Tuesday, September 2nd. They set an “outperform” rating and a $150.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $154.43.

Insider Buying and Selling at Inspire Medical Systems

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

Inspire Medical Systems Price Performance

Shares of INSP opened at $73.98 on Wednesday. The firm has a market capitalization of $2.19 billion, a PE ratio of 42.76, a price-to-earnings-growth ratio of 2.36 and a beta of 1.15. Inspire Medical Systems, Inc. has a 1-year low of $72.66 and a 1-year high of $216.01. The company’s fifty day moving average price is $92.50 and its 200-day moving average price is $126.44.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. The firm had revenue of $217.09 million for the quarter, compared to analyst estimates of $214.50 million. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

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

Inspire Medical Systems Company 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.