Braidwell LP Grows Position in Inspire Medical Systems, Inc. $INSP

Key Points

• Braidwell LP raised its stake in Inspire Medical Systems, increasing its holdings by 3.1% to 302,410 shares, making it the firm's 23rd largest holding.
• Several institutional investors significantly boosted their positions in Inspire Medical Systems, with Congress Asset Management increasing its stake by a remarkable 3,943.6% during the first quarter.
• Inspire Medical Systems reported a quarterly earnings per share of $0.45, surpassing expectations, and the company initiated a $200 million stock repurchase program indicating confidence in its valuation.

Braidwell LP increased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 302,410 shares of the company's stock after purchasing an additional 9,000 shares during the quarter. Inspire Medical Systems accounts for approximately 1.7% of Braidwell LP's investment portfolio, making the stock its 23rd largest holding. Braidwell LP owned 1.03% of Inspire Medical Systems worth $48,168,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in shares of Inspire Medical Systems by 356.5% during 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 period. Quarry LP raised its stake in shares of Inspire Medical Systems by 2,127.3% during 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 period. Smartleaf Asset Management LLC raised its stake in shares of 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 buying an additional 97 shares during the period. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 411 shares during the period. Finally, Archer Investment Corp acquired a new position in shares of Inspire Medical Systems during the 1st quarter worth approximately $96,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Up 0.1%

NYSE:INSP traded up $0.08 during trading hours on Friday, hitting $86.40. The company had a trading volume of 924,970 shares, compared to its average volume of 997,672. The company has a 50-day moving average of $109.67 and a 200 day moving average of $138.36. The company has a market cap of $2.55 billion, a P/E ratio of 49.94, a P/E/G ratio of 2.69 and a beta of 1.15. Inspire Medical Systems, Inc. has a 1 year low of $73.92 and a 1 year high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.23. The company 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. On average, analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

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

Wall Street Analyst Weigh In

INSP has been the subject of several research analyst reports. Royal Bank Of Canada reduced their target price on Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating for the company in a research note on Tuesday, August 5th. Truist Financial reaffirmed a "hold" rating and set a $125.00 target price (down from $190.00) on shares of Inspire Medical Systems in a research note on Tuesday, August 5th. Evercore ISI started coverage on Inspire Medical Systems in a research note on Tuesday. They set an "outperform" rating and a $150.00 target price for the company. Piper Sandler dropped their price target on Inspire Medical Systems from $233.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Finally, UBS Group set a $230.00 price target on Inspire Medical Systems and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $164.50.

Insider Transactions at Inspire Medical Systems

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

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.