Janney Montgomery Scott LLC Acquires 984 Shares of Inspire Medical Systems, Inc. $INSP

Janney Montgomery Scott LLC raised its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 22.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,316 shares of the company’s stock after buying an additional 984 shares during the period. Janney Montgomery Scott LLC’s holdings in Inspire Medical Systems were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in INSP. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Inspire Medical Systems by 214.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,112,925 shares of the company’s stock valued at $177,267,000 after purchasing an additional 759,090 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Inspire Medical Systems by 8.3% in the first quarter. Invesco Ltd. now owns 858,572 shares of the company’s stock valued at $136,753,000 after purchasing an additional 65,492 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of Inspire Medical Systems by 9.8% in the first quarter. TimesSquare Capital Management LLC now owns 476,217 shares of the company’s stock valued at $75,852,000 after purchasing an additional 42,411 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of Inspire Medical Systems by 21.4% in the second quarter. Congress Asset Management Co. now owns 373,347 shares of the company’s stock valued at $48,449,000 after purchasing an additional 65,792 shares during the last quarter. Finally, Eventide Asset Management LLC raised its holdings in shares of Inspire Medical Systems by 144.9% in the first quarter. Eventide Asset Management LLC now owns 306,301 shares of the company’s stock valued at $48,785,000 after purchasing an additional 181,211 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Stock Up 0.1%

INSP opened at $78.92 on Thursday. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 45.62, a PEG ratio of 2.46 and a beta of 1.16. The firm has a 50-day moving average price of $82.86 and a 200-day moving average price of $120.11. Inspire Medical Systems, Inc. has a twelve month low of $70.77 and a twelve month high of $216.01.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results 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. The firm had revenue of $217.09 million during the quarter, compared to the consensus estimate of $214.50 million. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. On average, sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

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

Insider Activity at Inspire Medical Systems

In other news, CFO Richard Buchholz sold 11,000 shares of the firm’s 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 transaction, the chief financial officer directly owned 44,867 shares in the company, valued at approximately $4,190,129.13. This trade represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on INSP shares. Lake Street Capital set a $150.00 target price on shares of Inspire Medical Systems and gave the company a “buy” rating in a report on Tuesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Inspire Medical Systems in a report on Wednesday, October 8th. Leerink Partners decreased their price objective on shares of 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. Royal Bank Of Canada restated an “outperform” rating and set a $150.00 price objective on shares of Inspire Medical Systems in a report on Friday, October 10th. Finally, Evercore ISI decreased their price objective on shares of Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Inspire Medical Systems presently has an average rating of “Hold” and an average target price of $148.00.

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.