Driehaus Capital Management LLC Acquires New Shares in Inspire Medical Systems, Inc. $INSP

Key Points

• Driehaus Capital Management LLC has acquired 71,745 shares of Inspire Medical Systems, valued at approximately $11.43 million, giving them about 0.24% ownership of the company.
• A consensus rating of "Moderate Buy" has been assigned to Inspire Medical Systems, with a consensus target price of $165.62 based on input from several investment analysts.
• Inspire Medical Systems reported earnings of $0.45 per share, surpassing expectations, along with a revenue increase of 10.8% year-over-year, totaling $217.09 million for the quarter.

Driehaus Capital Management LLC acquired a new stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,745 shares of the company's stock, valued at approximately $11,428,000. Driehaus Capital Management LLC owned about 0.24% of Inspire Medical Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC acquired a new position in Inspire Medical Systems during the fourth quarter worth $161,486,000. Invesco Ltd. lifted its stake in Inspire Medical Systems by 8.3% during the first quarter. Invesco Ltd. now owns 858,572 shares of the company's stock worth $136,753,000 after purchasing an additional 65,492 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Inspire Medical Systems by 12.9% during the fourth quarter. Janus Henderson Group PLC now owns 567,312 shares of the company's stock worth $105,173,000 after purchasing an additional 64,703 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in Inspire Medical Systems by 9.8% during the first quarter. TimesSquare Capital Management LLC now owns 476,217 shares of the company's stock worth $75,852,000 after purchasing an additional 42,411 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its stake in Inspire Medical Systems by 6.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 418,854 shares of the company's stock worth $77,647,000 after purchasing an additional 23,838 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INSP has been the topic of a number of research reports. Lake Street Capital set a $150.00 price target on Inspire Medical Systems and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada decreased their price target on Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 5th. Wells Fargo & Company decreased their price target on Inspire Medical Systems from $174.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 5th. JPMorgan Chase & Co. cut Inspire Medical Systems from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $195.00 to $110.00 in a research note on Tuesday, August 5th. Finally, Stifel Nicolaus set a $140.00 price target on Inspire Medical Systems and gave the stock a "hold" rating in a research note on Tuesday, August 5th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.62.

Inspire Medical Systems Trading Up 2.6%

Inspire Medical Systems stock opened at $93.86 on Friday. Inspire Medical Systems, Inc. has a twelve month low of $73.92 and a twelve month high of $225.00. The stock's fifty day simple moving average is $113.86 and its 200-day simple moving average is $141.33. The firm has a market capitalization of $2.78 billion, a P/E ratio of 54.26, a P/E/G ratio of 2.92 and a beta of 1.22.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.23. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.The business had revenue of $217.09 million for the quarter, compared to analyst estimates of $214.50 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. The company's revenue was up 10.8% on a year-over-year basis. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. Sell-side analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Inspire Medical Systems declared that its board has approved a stock repurchase plan on Monday, August 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

About Inspire Medical Systems

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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