Bayforest Capital Ltd Acquires 5,277 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• Bayforest Capital Ltd significantly increased its stake in Inspire Medical Systems by 2,465.9%, owning a total of 5,491 shares worth approximately $875,000 after acquiring an additional 5,277 shares.
• Inspire Medical Systems reported earnings of $0.45 per share, surpassing analysts' expectations of $0.22, with revenue increasing 10.8% year-over-year to $217.09 million.
• Institutional investors hold 94.91% of Inspire Medical Systems stock, indicating strong interest from large entities, while the company has approved a stock repurchase program worth $200 million.

Bayforest Capital Ltd raised its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 2,465.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,491 shares of the company's stock after buying an additional 5,277 shares during the quarter. Bayforest Capital Ltd's holdings in Inspire Medical Systems were worth $875,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC grew its position in shares of Inspire Medical Systems by 356.5% in the 1st quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after buying an additional 164 shares during the last quarter. Quarry LP grew its position in shares of Inspire Medical Systems by 2,127.3% in the 1st quarter. Quarry LP now owns 245 shares of the company's stock worth $39,000 after buying an additional 234 shares during the last quarter. Banque Transatlantique SA bought a new stake in shares of Inspire Medical Systems in the 1st quarter worth approximately $46,000. Smartleaf Asset Management LLC grew its position in shares of Inspire Medical Systems by 27.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 454 shares of the company's stock worth $71,000 after buying an additional 97 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Inspire Medical Systems by 253.7% in the 1st quarter. GAMMA Investing LLC now owns 573 shares of the company's stock worth $91,000 after buying an additional 411 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

INSP has been the topic of a number of recent analyst reports. Royal Bank Of Canada cut their price objective on Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. Morgan Stanley cut their price objective on Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Evercore ISI began coverage on Inspire Medical Systems in a research note on Tuesday, September 2nd. They issued an "outperform" rating and a $150.00 target price for the company. Truist Financial restated a "hold" rating and issued a $125.00 target price (down previously from $190.00) on shares of Inspire Medical Systems in a research note on Tuesday, August 5th. Finally, Stifel Nicolaus set a $140.00 target price on Inspire Medical Systems and gave the company a "hold" rating in a research note on Tuesday, August 5th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $164.50.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, CFO Richard Buchholz sold 11,000 shares of Inspire Medical Systems stock in a transaction on Friday, August 29th. The stock was sold at an average price of $93.39, for a total transaction of $1,027,290.00. Following the completion of the transaction, the chief financial officer owned 44,867 shares in the company, valued at approximately $4,190,129.13. The trade was a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.10% of the company's stock.

Inspire Medical Systems Trading Down 3.0%

NYSE:INSP traded down $2.52 during trading hours on Friday, reaching $80.28. 866,279 shares of the company traded hands, compared to its average volume of 985,127. The business's 50-day moving average price is $104.85 and its two-hundred day moving average price is $134.49. The stock has a market capitalization of $2.37 billion, a P/E ratio of 46.40, a P/E/G ratio of 2.58 and a beta of 1.15. Inspire Medical Systems, Inc. has a 1 year low of $73.92 and a 1 year high of $218.52.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.45 earnings per share (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 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 quarterly 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. As a group, equities analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Inspire Medical Systems declared that its Board of Directors has initiated a share buyback plan on Monday, August 11th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 8.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

About Inspire Medical Systems

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.