Aberdeen Group plc Purchases 121,741 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• Aberdeen Group plc increased its stake in Inspire Medical Systems by 100.3% in Q2, owning 243,102 shares valued at approximately $31.5 million.
• Analysts have mixed ratings for Inspire Medical Systems, with a target price ranging from $97 to $200 and an average price target of $150.50.
• Inspire Medical Systems announced a $200 million share buyback plan, indicating the company's belief that its stock is undervalued.

Aberdeen Group plc lifted its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 100.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,102 shares of the company's stock after buying an additional 121,741 shares during the quarter. Aberdeen Group plc owned about 0.82% of Inspire Medical Systems worth $31,547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in INSP. Quarry LP grew its stake in shares of Inspire Medical Systems by 2,127.3% in the first quarter. Quarry LP now owns 245 shares of the company's stock valued at $39,000 after buying an additional 234 shares in the last quarter. Banque Transatlantique SA bought a new position in Inspire Medical Systems during the first quarter worth $46,000. Smartleaf Asset Management LLC boosted its position in Inspire Medical Systems by 27.2% during the first quarter. Smartleaf Asset Management LLC now owns 454 shares of the company's stock worth $71,000 after purchasing an additional 97 shares during the period. Farther Finance Advisors LLC boosted its position in Inspire Medical Systems by 14.6% during the second quarter. Farther Finance Advisors LLC now owns 603 shares of the company's stock worth $78,000 after purchasing an additional 77 shares during the period. Finally, GAMMA Investing LLC boosted its position in Inspire Medical Systems by 253.7% during the first quarter. GAMMA Investing LLC now owns 573 shares of the company's stock worth $91,000 after purchasing an additional 411 shares during the period. 94.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $150.00 price objective on shares of Inspire Medical Systems in a research report on Friday. Evercore ISI reduced their price objective on shares of Inspire Medical Systems from $150.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, October 7th. Morgan Stanley reduced their price objective on shares of Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. JPMorgan Chase & Co. cut shares of Inspire Medical Systems from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $195.00 to $110.00 in a research report on Tuesday, August 5th. Finally, Leerink Partners dropped their target price on Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating for the company in a report on Friday, August 15th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $150.50.

Insider Buying and Selling

In related news, CFO Richard Buchholz sold 11,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief financial officer 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 document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by company insiders.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $75.23 on Monday. The firm has a 50-day moving average of $84.07 and a 200-day moving average of $121.24. The stock has a market cap of $2.22 billion, a PE ratio of 43.49, a PEG ratio of 2.34 and a beta of 1.16. Inspire Medical Systems, Inc. has a 52-week low of $70.77 and a 52-week high of $216.01.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.23. The business had revenue of $217.09 million during the quarter, compared to the consensus estimate of $214.50 million. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.Inspire Medical Systems's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. Equities research analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems declared that its board has approved a share buyback plan on Monday, August 11th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 8.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.

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