Assenagon Asset Management S.A. Sells 221,080 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• Assenagon Asset Management cut its Inspire Medical Systems stake by 25.6%, selling 221,080 shares and retaining 643,315 shares worth about $44.6 million. Institutional investors collectively own 94.91% of the company.
• Inspire reported quarterly earnings of $0.14 per share, beating estimates by $0.38, while revenue of $200.58 million exceeded expectations. However, revenue declined 7.6% year over year.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $68.82, close to the stock’s reported price of $68.72.

Assenagon Asset Management S.A. reduced its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 25.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 643,315 shares of the company's stock after selling 221,080 shares during the quarter. Assenagon Asset Management S.A. owned approximately 2.23% of Inspire Medical Systems worth $44,620,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Inspire Medical Systems in the second quarter worth about $211,341,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Inspire Medical Systems by 21.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,020 shares of the company's stock valued at $24,358,000 after acquiring an additional 97,233 shares during the period. Renaissance Technologies LLC grew its stake in shares of Inspire Medical Systems by 14.4% during the 1st quarter. Renaissance Technologies LLC now owns 469,968 shares of the company's stock valued at $24,241,000 after acquiring an additional 59,200 shares during the period. ADAR1 Capital Management LLC grew its stake in shares of Inspire Medical Systems by 2,601.3% during the 1st quarter. ADAR1 Capital Management LLC now owns 405,197 shares of the company's stock valued at $20,900,000 after acquiring an additional 390,197 shares during the period. Finally, Nantahala Capital Management LLC purchased a new stake in Inspire Medical Systems in the 2nd quarter worth approximately $12,021,235. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $68.72 on Friday. Inspire Medical Systems, Inc. has a 1 year low of $38.91 and a 1 year high of $147.03. The firm's 50 day moving average price is $66.26 and its 200-day moving average price is $54.80. The stock has a market cap of $1.99 billion, a P/E ratio of 14.87, a PEG ratio of 5.20 and a beta of 0.73.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INSP shares. Truist Financial increased their price objective on shares of Inspire Medical Systems from $62.00 to $78.00 and gave the stock a "hold" rating in a research note on Wednesday. Barclays initiated coverage on shares of Inspire Medical Systems in a research note on Tuesday, October 6th. They set an "underweight" rating and a $65.00 target price on the stock. Evercore set a $54.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, August 4th. Weiss Ratings raised shares of Inspire Medical Systems from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, September 22nd. Finally, Freedom Capital upgraded Inspire Medical Systems to a "strong-buy" rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Inspire Medical Systems has a consensus rating of "Hold" and a consensus price target of $68.82.

Insider Buying and Selling at Inspire Medical Systems

In other news, insider Jason Kelly sold 963 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $59.55, for a total transaction of $57,346.65. Following the completion of the transaction, the insider owned 18,985 shares in the company, valued at $1,130,556.75. This trade represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by insiders.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company focused on developing and commercializing treatments for obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly becomes blocked during sleep. The company's primary product is the Inspire therapy system, an implantable device designed for certain adults with moderate to severe OSA who are unable to use or obtain consistent benefits from continuous positive airway pressure (CPAP) therapy.

The Inspire system uses an implantable pulse generator, a stimulation lead and a sensing lead.

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