Baird Financial Group Inc. Raises Stake in Inspire Medical Systems, Inc. $INSP

Key Points

• Baird Financial Group Inc. increased its stake in Inspire Medical Systems by 10.2% during the first quarter, owning approximately 0.11% of the company worth around $4.98 million.
• Inspire Medical Systems recently reported a net margin of 6.17% and a revenue of $217.09 million for the quarter, exceeding analyst estimates.
• The company's Board of Directors approved a $200 million stock buyback program, which allows for the repurchase of up to 8.6% of its stock, indicating that they believe the shares are undervalued.

Baird Financial Group Inc. increased its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 10.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 31,298 shares of the company's stock after purchasing an additional 2,907 shares during the period. Baird Financial Group Inc. owned approximately 0.11% of Inspire Medical Systems worth $4,985,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INSP. Parallel Advisors LLC boosted its position in shares of Inspire Medical Systems by 356.5% during the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after buying an additional 164 shares during the period. Smartleaf Asset Management LLC lifted 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 acquiring an additional 97 shares in the last quarter. GAMMA Investing LLC lifted its stake in Inspire Medical Systems by 253.7% during the 1st quarter. GAMMA Investing LLC now owns 573 shares of the company's stock worth $91,000 after acquiring an additional 411 shares in the last quarter. Archer Investment Corp purchased a new position in Inspire Medical Systems during the 1st quarter valued at about $96,000. Finally, AlphaQuest LLC grew its position in Inspire Medical Systems by 248.5% in the 1st quarter. AlphaQuest LLC now owns 1,028 shares of the company's stock valued at $164,000 after acquiring an additional 733 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Inspire Medical Systems from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $195.00 to $110.00 in a research report on Tuesday, August 5th. Piper Sandler dropped their price target on shares of Inspire Medical Systems from $233.00 to $150.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. Leerink Partners reduced their price objective on Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating on the stock in a research note on Friday, August 15th. Wells Fargo & Company decreased their target price on Inspire Medical Systems from $174.00 to $101.00 and set an "equal weight" rating for the company in a report on Tuesday, August 5th. Finally, Evercore ISI assumed coverage on Inspire Medical Systems in a report on Tuesday, September 2nd. They set an "outperform" rating and a $150.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Inspire Medical Systems currently has a consensus rating of "Moderate Buy" and an average target price of $164.50.

Insider Activity at Inspire Medical Systems

In related news, CFO Richard Buchholz sold 11,000 shares of the company'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 sale, the chief financial officer directly owned 44,867 shares of the company's stock, valued at $4,190,129.13. This represents a 19.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.10% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of NYSE:INSP traded down $2.68 on Wednesday, hitting $78.79. 1,542,240 shares of the company's stock were exchanged, compared to its average volume of 958,848. Inspire Medical Systems, Inc. has a 1-year low of $73.92 and a 1-year high of $218.52. The company has a market capitalization of $2.33 billion, a PE ratio of 45.55, a P/E/G ratio of 2.54 and a beta of 1.15. The firm's 50-day moving average is $106.73 and its 200 day moving average is $136.36.

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

Inspire Medical Systems announced that its Board of Directors has authorized a share buyback plan on Monday, August 11th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 8.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management 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.