Cwm LLC Trims Stock Holdings in Inspire Medical Systems, Inc. $INSP

Cwm LLC cut its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 88.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 538 shares of the company’s stock after selling 4,154 shares during the quarter. Cwm LLC’s holdings in Inspire Medical Systems were worth $70,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its holdings in Inspire Medical Systems by 14.6% in the second quarter. Farther Finance Advisors LLC now owns 603 shares of the company’s stock valued at $78,000 after buying an additional 77 shares during the period. Allianz Asset Management GmbH lifted its holdings in Inspire Medical Systems by 1.6% in the first quarter. Allianz Asset Management GmbH now owns 5,000 shares of the company’s stock worth $796,000 after acquiring an additional 78 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Inspire Medical Systems by 27.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 454 shares of the company’s stock worth $71,000 after buying an additional 97 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Inspire Medical Systems by 4.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,419 shares of the company’s stock worth $385,000 after purchasing an additional 109 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Inspire Medical Systems by 6.1% in the first quarter. US Bancorp DE now owns 2,479 shares of the company’s stock worth $395,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on INSP shares. UBS Group set a $89.00 price objective on Inspire Medical Systems and gave the stock a “neutral” rating in a research note on Monday, September 22nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $85.00 target price (down previously from $160.00) on shares of Inspire Medical Systems in a research note on Friday, October 24th. Lake Street Capital set a $150.00 target price on Inspire Medical Systems and gave the company a “buy” rating in a research note on Tuesday, August 5th. Evercore ISI cut their target price on Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, October 7th. Finally, Piper Sandler lowered their target price 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. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $141.13.

Inspire Medical Systems Price Performance

NYSE INSP opened at $73.76 on Tuesday. The stock’s 50 day simple moving average is $80.37 and its 200 day simple moving average is $112.89. 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 cap of $2.18 billion, a PE ratio of 42.64, a price-to-earnings-growth ratio of 2.42 and a beta of 1.14.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.49. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. During the same quarter in the prior year, the business posted $0.60 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

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

Insider Activity at Inspire Medical Systems

In related news, CFO Richard Buchholz sold 11,000 shares of the business’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 transaction of $1,027,290.00. Following the completion of the sale, the chief financial officer directly owned 44,867 shares of the company’s stock, 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 filing with the SEC, which is available at this link. 2.30% of the stock is currently owned by corporate 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.