Inspire Medical Systems, Inc. $INSP Shares Bought by Bayforest Capital Ltd

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 increased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 2,465.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,491 shares of the company's stock after buying an additional 5,277 shares during the period. Bayforest Capital Ltd's holdings in Inspire Medical Systems were worth $875,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC boosted its position in shares of Inspire Medical Systems by 14.7% in the 1st quarter. SG Americas Securities LLC now owns 4,055 shares of the company's stock worth $646,000 after buying an additional 521 shares in the last quarter. GAMMA Investing LLC boosted 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 in the last quarter. New York State Teachers Retirement System boosted its position in shares of Inspire Medical Systems by 132.7% in the 1st quarter. New York State Teachers Retirement System now owns 21,390 shares of the company's stock worth $3,407,000 after buying an additional 12,196 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Inspire Medical Systems by 1.7% in the 1st quarter. Bessemer Group Inc. now owns 7,183 shares of the company's stock worth $1,145,000 after buying an additional 123 shares in the last quarter. Finally, Parallel Advisors LLC boosted 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 in the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Inspire Medical Systems Stock Performance

INSP traded down $2.52 on Friday, reaching $80.28. 866,279 shares of the company's stock were exchanged, compared to its average volume of 985,127. The company's 50 day moving average is $104.85 and its 200-day moving average is $134.92. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 46.40, a PEG ratio of 2.58 and a beta of 1.15. Inspire Medical Systems, Inc. has a twelve month low of $73.92 and a twelve month high of $218.52.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.23. The firm had revenue of $217.09 million during the quarter, compared to the consensus estimate of $214.50 million. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The company's revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. Sell-side analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

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

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, CFO Richard Buchholz sold 11,000 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were 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 owned 44,867 shares of the company's stock, valued at $4,190,129.13. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. KeyCorp lowered shares of Inspire Medical Systems from an "overweight" rating to a "sector weight" rating in a report on Tuesday, August 5th. Piper Sandler reduced their target price on shares of Inspire Medical Systems from $233.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday, August 5th. Royal Bank Of Canada reduced their target price on shares of Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating on the stock in a report on Tuesday, August 5th. Stifel Nicolaus set a $140.00 target price on shares of Inspire Medical Systems and gave the company a "hold" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley reduced their target price on shares of Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $164.50.

Inspire Medical Systems 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.