Inspire Medical Systems, Inc. $INSP Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS raised its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 10.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,300 shares of the company’s stock after buying an additional 600 shares during the period. KLP Kapitalforvaltning AS’s holdings in Inspire Medical Systems were worth $818,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INSP. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Inspire Medical Systems by 214.5% during 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 period. Eventide Asset Management LLC raised its stake in shares of Inspire Medical Systems by 144.9% during 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 period. Nuveen LLC purchased a new stake in shares of Inspire Medical Systems during the first quarter valued at approximately $21,761,000. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Inspire Medical Systems by 2,038.3% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 85,167 shares of the company’s stock valued at $13,565,000 after purchasing an additional 81,184 shares during the period. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Inspire Medical Systems during the first quarter valued at approximately $11,428,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Lake Street Capital set a $150.00 price objective on shares of Inspire Medical Systems and gave the company a “buy” rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. lowered shares of Inspire Medical Systems from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $195.00 to $110.00 in a research note on Tuesday, August 5th. KeyCorp lowered 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 restated an “outperform” rating and issued a $150.00 price target on shares of Inspire Medical Systems in a research note on Friday, October 10th. Finally, Piper Sandler dropped their price target on shares of Inspire Medical Systems from $233.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $148.00.

Inspire Medical Systems Price Performance

INSP stock opened at $77.36 on Friday. Inspire Medical Systems, Inc. has a 1-year low of $70.77 and a 1-year high of $216.01. The firm has a fifty day moving average price of $82.87 and a two-hundred day moving average price of $119.54. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 44.72, a PEG ratio of 2.46 and a beta of 1.16.

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, beating the consensus estimate of $0.22 by $0.23. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The firm had revenue of $217.09 million during the quarter, compared to analyst estimates of $214.50 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter 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, analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other Inspire Medical Systems 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is currently owned by insiders.

About Inspire Medical Systems

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.