Corient Private Wealth LP Acquires 52,275 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• Corient Private Wealth LP increased its Inspire Medical Systems stake by 993.8% in the second quarter, acquiring 52,275 shares and ending with 57,535 shares worth approximately $2.57 million.
• Institutional investors own 94.91% of Inspire Medical Systems, while company insiders own 2.20%; insider Jason Kelly recently sold 963 shares for about $57,347.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $66.50. Inspire reported quarterly EPS of $0.14, beating estimates, while revenue reached $200.58 million but declined 7.6% year over year.

Corient Private Wealth LP increased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 993.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,535 shares of the company's stock after acquiring an additional 52,275 shares during the period. Corient Private Wealth LP owned about 0.20% of Inspire Medical Systems worth $2,567,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in INSP. Nykredit A S bought a new position in Inspire Medical Systems during the 2nd quarter valued at $78,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Inspire Medical Systems by 21.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,020 shares of the company's stock valued at $24,358,000 after purchasing an additional 97,233 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Inspire Medical Systems by 24.2% in the 2nd quarter. Van ECK Associates Corp now owns 5,267 shares of the company's stock worth $235,000 after buying an additional 1,025 shares during the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Inspire Medical Systems in the 2nd quarter worth about $12,021,235. Finally, Palo Alto Investors LP bought a new position in Inspire Medical Systems during the second quarter valued at about $391,319. Institutional investors and hedge funds own 94.91% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on INSP shares. Robert W. Baird raised their price target on shares of Inspire Medical Systems from $54.00 to $59.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 4th. Piper Sandler upped their price objective on shares of Inspire Medical Systems from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Truist Financial reissued a "hold" rating and issued a $62.00 price target (up from $54.00) on shares of Inspire Medical Systems in a research report on Tuesday, August 4th. Oppenheimer upgraded shares of Inspire Medical Systems from a "market perform" rating to an "outperform" rating and set a $85.00 price target on the stock in a research note on Tuesday, August 4th. Finally, Zacks Research raised shares of Inspire Medical Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $66.50.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $71.51 on Wednesday. The company's fifty day moving average price is $60.42 and its 200-day moving average price is $53.13. Inspire Medical Systems, Inc. has a one year low of $38.91 and a one year high of $147.03. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 5.73 and a beta of 0.70.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.38. The firm had revenue of $200.58 million during the quarter, compared to analyst estimates of $194.72 million. Inspire Medical Systems had a return on equity of 8.64% and a net margin of 15.03%.The company's revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. Inspire Medical Systems has set its FY 2026 guidance at 1.050-1.450 EPS. As a group, equities research analysts expect that Inspire Medical Systems, Inc. will post 1.24 EPS for the current year.

About Inspire Medical Systems

Inspire Medical Systems, Inc develops and commercializes medical devices for treating moderate to severe obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly becomes blocked during sleep. The company's primary product is Inspire therapy, an implantable system designed for patients who are unable to use or obtain consistent benefit from continuous positive airway pressure (CPAP) therapy.

The Inspire system uses a small implantable pulse generator, a breathing-sensing lead and a stimulation lead.

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