Inspire Medical Systems, Inc. $INSP Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 783.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,368 shares of the company’s stock after buying an additional 2,100 shares during the period. Nisa Investment Advisors LLC’s holdings in Inspire Medical Systems were worth $307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of INSP. Quarry LP increased its holdings in shares of Inspire Medical Systems by 2,127.3% in the 1st quarter. Quarry LP now owns 245 shares of the company’s stock valued at $39,000 after purchasing an additional 234 shares during the period. Banque Transatlantique SA acquired a new position in shares of Inspire Medical Systems in the 1st quarter valued at about $46,000. Smartleaf Asset Management LLC increased its holdings in shares of 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 during the period. Farther Finance Advisors LLC increased its holdings in shares of 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 during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Inspire Medical Systems by 253.7% in the 1st quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock valued at $91,000 after purchasing an additional 411 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Trading Down 1.5%

Shares of NYSE INSP opened at $71.97 on Monday. The business has a fifty day simple moving average of $80.76 and a 200 day simple moving average of $113.43. Inspire Medical Systems, Inc. has a one year low of $70.77 and a one year high of $216.01. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 41.60, a PEG ratio of 2.42 and a beta of 1.14.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results 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. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.The firm had revenue of $217.09 million for the quarter, compared to analysts’ expectations of $214.50 million. During the same period in the prior year, the business posted $0.32 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts anticipate 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 allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows 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.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Zacks Research raised Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. UBS Group set a $89.00 price target on Inspire Medical Systems and gave the company a “neutral” rating in a research note on Monday, September 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $150.00 price target on shares of Inspire Medical Systems in a research note on Friday, October 10th. Stifel Nicolaus set a $100.00 price target on Inspire Medical Systems in a research note on Friday, October 24th. Finally, KeyCorp cut Inspire Medical Systems from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, August 5th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $141.13.

Insiders Place Their Bets

In other Inspire Medical Systems news, CFO Richard Buchholz sold 11,000 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $93.39, for a total value of $1,027,290.00. Following the sale, the chief financial officer directly owned 44,867 shares in the company, valued at $4,190,129.13. This represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

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.