Credit Agricole S A Has $10.70 Million Stock Position in Inspire Medical Systems, Inc. $INSP

Key Points

• Credit Agricole S A reduced its stake in Inspire Medical Systems by 43.1%, ending the quarter with a holding worth $10.7 million.
• Multiple hedge funds increased their investments in Inspire Medical Systems, reflecting a strong institutional ownership of 94.91% of the company's stock.
• Inspire Medical Systems reported a better-than-expected quarterly earnings per share of $0.45, surpassing analyst estimates and showing a year-over-year revenue increase of 10.8%.

Credit Agricole S A lowered its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 43.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,177 shares of the company's stock after selling 50,899 shares during the period. Credit Agricole S A owned 0.23% of Inspire Medical Systems worth $10,700,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in INSP. Dragoneer Investment Group LLC acquired a new stake in Inspire Medical Systems in the fourth quarter valued at approximately $161,486,000. Congress Asset Management Co. raised its stake in shares of Inspire Medical Systems by 3,943.6% during the first quarter. Congress Asset Management Co. now owns 307,555 shares of the company's stock valued at $48,987,000 after acquiring an additional 299,949 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Inspire Medical Systems by 869.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 210,160 shares of the company's stock valued at $38,959,000 after acquiring an additional 188,492 shares during the last quarter. Nuveen LLC bought a new position in shares of Inspire Medical Systems during the first quarter valued at $21,761,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Inspire Medical Systems by 98.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 232,333 shares of the company's stock valued at $43,069,000 after acquiring an additional 115,024 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Analyst Ratings Changes

INSP has been the subject of several analyst reports. UBS Group set a $230.00 price target on shares of Inspire Medical Systems and gave the company a "buy" rating in a research note on Tuesday, August 5th. Lake Street Capital set a $150.00 price target on shares of Inspire Medical Systems and gave the company a "buy" rating in a research note on Tuesday, August 5th. Leerink Partners lowered their target price on shares of Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating for the company in a research note on Friday, August 15th. Morgan Stanley lowered their target price on shares of Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Finally, Piper Sandler lowered their target price on shares of 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. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems currently has an average rating of "Moderate Buy" and a consensus price target of $165.62.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $93.05 on Thursday. The stock has a market capitalization of $2.75 billion, a P/E ratio of 53.79, a P/E/G ratio of 2.81 and a beta of 1.22. The company has a 50-day moving average price of $118.92 and a 200-day moving average price of $146.19. 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 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 firm had revenue of $217.09 million during the quarter, compared to analysts' expectations of $214.50 million. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The business's revenue was up 10.8% on a year-over-year basis. During the same period last year, the company 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 research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems declared that its board has authorized a stock repurchase program on Monday, August 11th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Inspire Medical Systems Company 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.

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