Bank of America Corp DE Trims Stock Holdings in Inspire Medical Systems, Inc. $INSP

Bank of America Corp DE cut its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 11.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 186,069 shares of the company's stock after selling 24,057 shares during the quarter. Bank of America Corp DE owned approximately 0.65% of Inspire Medical Systems worth $9,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of INSP. Daiwa Securities Group Inc. grew its position in shares of Inspire Medical Systems by 38.7% during the second quarter. Daiwa Securities Group Inc. now owns 466 shares of the company's stock worth $60,000 after buying an additional 130 shares in the last quarter. State of Wyoming boosted its stake in Inspire Medical Systems by 31.5% during the 4th quarter. State of Wyoming now owns 731 shares of the company's stock valued at $67,000 after acquiring an additional 175 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Inspire Medical Systems by 84.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 449 shares of the company's stock valued at $42,000 after acquiring an additional 205 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Inspire Medical Systems by 5.6% during the 1st quarter. Apollon Wealth Management LLC now owns 3,997 shares of the company's stock worth $206,000 after acquiring an additional 212 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in Inspire Medical Systems by 5.1% during the 3rd quarter. Blair William & Co. IL now owns 4,865 shares of the company's stock worth $361,000 after acquiring an additional 234 shares in the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Inspire Medical Systems Stock Down 1.5%

Shares of INSP stock opened at $61.45 on Tuesday. The company has a market cap of $1.78 billion, a P/E ratio of 13.30, a PEG ratio of 4.74 and a beta of 0.70. The business has a 50 day moving average of $51.55 and a two-hundred day moving average of $52.55. Inspire Medical Systems, Inc. has a 52 week low of $38.91 and a 52 week high of $147.03.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly 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. Inspire Medical Systems had a return on equity of 8.64% and a net margin of 15.03%.The business had revenue of $200.58 million for the quarter, compared to analysts' expectations of $194.72 million. During the same period in the prior year, the firm earned $0.45 EPS. The business's quarterly revenue was down 7.6% on a year-over-year basis. Inspire Medical Systems has set its FY 2026 guidance at 1.050-1.450 EPS. Analysts expect that Inspire Medical Systems, Inc. will post 1.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INSP. Bank of America lowered shares of Inspire Medical Systems from a "neutral" rating to an "underperform" rating and set a $39.00 target price on the stock. in a research note on Friday, May 22nd. JPMorgan Chase & Co. boosted their price objective on Inspire Medical Systems from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Weiss Ratings upgraded Inspire Medical Systems from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, August 19th. Piper Sandler increased their target price on Inspire Medical Systems from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Finally, Zacks Research upgraded Inspire Medical Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $66.19.

Insiders Place Their Bets

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

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.

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