20,525 Shares in Inspire Medical Systems, Inc. $INSP Bought by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company initiated a position in Inspire Medical Systems by purchasing 20,525 shares valued at approximately $916,000. Institutional investors collectively own 94.91% of the company.
• Inspire reported quarterly EPS of $0.14, beating estimates by $0.38, while revenue reached $200.58 million; however, revenue declined 7.6% year over year.
• Analyst sentiment remains cautious, with the stock holding a consensus “Hold” rating and a $66.19 average price target. Shares recently traded at $62.99, above their 50-day and 200-day moving averages.

The Manufacturers Life Insurance Company bought a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,525 shares of the company's stock, valued at approximately $916,000. The Manufacturers Life Insurance Company owned 0.07% of Inspire Medical Systems as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Algert Global LLC boosted its position in shares of Inspire Medical Systems by 14.5% in the 2nd quarter. Algert Global LLC now owns 60,517 shares of the company's stock valued at $2,700,000 after purchasing an additional 7,657 shares during the period. Sanctuary Advisors LLC purchased a new stake in Inspire Medical Systems during the second quarter valued at about $213,000. Bank of Nova Scotia acquired a new position in shares of Inspire Medical Systems in the second quarter worth about $6,467,000. Quantbot Technologies LP acquired a new position in shares of Inspire Medical Systems in the second quarter worth about $1,158,000. Finally, Allworth Financial LP purchased a new position in shares of Inspire Medical Systems in the second quarter worth approximately $88,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Stock Performance

Shares of INSP opened at $62.99 on Friday. The company's 50 day moving average price is $55.05 and its 200 day moving average price is $52.43. Inspire Medical Systems, Inc. has a 52 week low of $38.91 and a 52 week high of $147.03. The company has a market capitalization of $1.82 billion, a PE ratio of 13.63, a PEG ratio of 4.79 and a beta of 0.70.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.38. Inspire Medical Systems had a net margin of 15.03% and a return on equity of 8.64%. The firm had revenue of $200.58 million for the quarter, compared to analyst estimates of $194.72 million. During the same quarter in the prior year, the business earned $0.45 EPS. The company's revenue for the quarter was down 7.6% compared to the same quarter last year. Inspire Medical Systems has set its FY 2026 guidance at 1.050-1.450 EPS. On average, equities analysts forecast that Inspire Medical Systems, Inc. will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In other news, insider Jason Kelly sold 963 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $59.55, for a total value of $57,346.65. Following the transaction, the insider directly owned 18,985 shares of the company's stock, valued at approximately $1,130,556.75. This represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on INSP. Piper Sandler boosted their price target on shares of Inspire Medical Systems from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. UBS Group assumed coverage on shares of Inspire Medical Systems in a research note on Tuesday, July 28th. They issued a "sell" rating and a $39.00 price objective for the company. Evercore set a $54.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, August 4th. Royal Bank Of Canada reissued a "sector perform" rating and set a $60.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, August 4th. Finally, Bank of America cut Inspire Medical Systems from a "neutral" rating to an "underperform" rating and set a $39.00 target price for the company. in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $66.19.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company's flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source