Inspire Medical Systems, Inc. $INSP Shares Acquired by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its holdings in Inspire Medical Systems by a remarkable 2,038.3%, owning approximately $13.57 million worth of shares as of the latest SEC filing.
• Inspire Medical Systems reported better-than-expected results, with an EPS of $0.45 for the quarter, surpassing the consensus estimate of $0.22 and showing a revenue increase of 10.8% year-over-year.
• The company has initiated a $200 million share buyback plan, which typically indicates that its leadership believes the stock is currently undervalued.

Caisse DE Depot ET Placement DU Quebec raised its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 2,038.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,167 shares of the company's stock after buying an additional 81,184 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.29% of Inspire Medical Systems worth $13,565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC increased its position in 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 purchasing an additional 164 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Inspire Medical Systems by 39.0% during the 4th quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after buying an additional 55 shares during the period. Smartleaf Asset Management LLC increased its holdings 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 last quarter. GAMMA Investing LLC raised 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 period. Finally, Archer Investment Corp acquired a new position in Inspire Medical Systems in the first quarter valued at $96,000. Institutional investors and hedge funds own 94.91% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on INSP. UBS Group set a $230.00 price target on Inspire Medical Systems and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Wells Fargo & Company dropped their price target on Inspire Medical Systems from $174.00 to $101.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 5th. 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 note on Tuesday, August 5th. Robert W. Baird upped their price target on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Leerink Partners lowered their price target on Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating for the company in a report on Friday, August 15th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $165.62.

Inspire Medical Systems Price Performance

NYSE INSP traded up $2.40 during trading hours on Monday, hitting $93.86. The company had a trading volume of 656,389 shares, compared to its average volume of 1,718,609. The firm's 50 day moving average is $113.86 and its 200 day moving average is $141.01. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 54.26, a P/E/G ratio of 2.92 and a beta of 1.15. Inspire Medical Systems, Inc. has a fifty-two week low of $73.92 and a fifty-two week high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.45 earnings per share 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 the consensus estimate of $214.50 million. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.The company's revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Inspire Medical Systems announced that its Board of Directors has authorized a stock repurchase plan on Monday, August 11th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 8.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.