Allianz Asset Management GmbH Sells 3,200 Shares of Inspire Medical Systems, Inc. $INSP

Allianz Asset Management GmbH trimmed its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 64.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,800 shares of the company’s stock after selling 3,200 shares during the quarter. Allianz Asset Management GmbH’s holdings in Inspire Medical Systems were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quarry LP grew its stake in shares of Inspire Medical Systems by 2,127.3% during the first quarter. Quarry LP now owns 245 shares of the company’s stock valued at $39,000 after purchasing an additional 234 shares during the last quarter. Banque Transatlantique SA bought a new position in Inspire Medical Systems in the first quarter valued at approximately $46,000. Smartleaf Asset Management LLC boosted its stake in Inspire Medical Systems by 27.2% in the first quarter. Smartleaf Asset Management LLC now owns 454 shares of the company’s stock valued at $71,000 after acquiring an additional 97 shares during the last quarter. GAMMA Investing LLC boosted its stake in Inspire Medical Systems by 253.7% in 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 during the last quarter. Finally, Archer Investment Corp bought a new position in Inspire Medical Systems in the first quarter valued at approximately $96,000. 94.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INSP has been the topic of a number of recent research reports. Evercore ISI reduced their price objective on shares of Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Piper Sandler reduced their price objective on shares of Inspire Medical Systems from $233.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inspire Medical Systems in a research note on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Inspire Medical Systems in a research note on Friday, October 10th. Finally, UBS Group set a $89.00 price objective on shares of Inspire Medical Systems and gave the company a “neutral” rating in a research note on Monday, September 22nd. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $141.13.

Inspire Medical Systems Stock Down 1.8%

Shares of NYSE:INSP opened at $76.80 on Wednesday. Inspire Medical Systems, Inc. has a 12 month low of $70.77 and a 12 month high of $216.01. The company’s fifty day simple moving average is $81.97 and its 200 day simple moving average is $115.23. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 44.39, a PEG ratio of 2.42 and a beta of 1.16.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $217.09 million for the quarter, compared to analyst estimates of $214.50 million. During the same period last year, the business posted $0.32 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. Research analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems announced that its Board of Directors has approved a stock repurchase program on Monday, August 11th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 8.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Inspire Medical Systems

In other news, CFO Richard Buchholz sold 11,000 shares of Inspire Medical Systems stock in a transaction dated 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 owned 44,867 shares of the company’s stock, valued at $4,190,129.13. This trade represents a 19.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is currently owned by company 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.