Goldman Sachs Group Inc. Purchases 18,857 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• Goldman Sachs Group Inc. increased its holdings in Inspire Medical Systems by 57.9%, owning 51,422 shares worth $8.19 million after acquiring an additional 18,857 shares in the first quarter.
• Multiple large investors have also increased their stakes in Inspire Medical Systems, with 94.91% of the stock currently owned by institutional investors and hedge funds.
• Inspire Medical Systems announced a stock buyback program, allowing for the repurchase of $200 million in outstanding shares, typically indicating management believes the stock is undervalued.

Goldman Sachs Group Inc. increased its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 57.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,422 shares of the company's stock after acquiring an additional 18,857 shares during the period. Goldman Sachs Group Inc. owned approximately 0.17% of Inspire Medical Systems worth $8,190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Captrust Financial Advisors raised its position in shares of Inspire Medical Systems by 2.0% during the 4th quarter. Captrust Financial Advisors now owns 3,034 shares of the company's stock worth $562,000 after buying an additional 59 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Inspire Medical Systems by 1.6% during the first quarter. Allianz Asset Management GmbH now owns 5,000 shares of the company's stock valued at $796,000 after acquiring an additional 78 shares during the period. Smartleaf Asset Management LLC raised its holdings in Inspire Medical Systems by 27.2% during the first quarter. Smartleaf Asset Management LLC now owns 454 shares of the company's stock worth $71,000 after purchasing an additional 97 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Inspire Medical Systems by 4.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,419 shares of the company's stock worth $385,000 after purchasing an additional 109 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Inspire Medical Systems by 1.7% during the 1st quarter. Bessemer Group Inc. now owns 7,183 shares of the company's stock valued at $1,145,000 after purchasing an additional 123 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Up 4.4%

Shares of INSP traded up $3.53 during mid-day trading on Thursday, hitting $83.53. 569,448 shares of the company's stock were exchanged, compared to its average volume of 715,934. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 48.28, a P/E/G ratio of 2.52 and a beta of 1.15. The firm has a fifty day moving average of $101.78 and a two-hundred day moving average of $132.68. Inspire Medical Systems, Inc. has a twelve month low of $73.92 and a twelve month high of $218.52.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.22 by $0.23. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The firm had revenue of $217.09 million for the quarter, compared to the consensus estimate of $214.50 million. During the same period in the prior year, the business posted $0.32 earnings per share. The business's quarterly 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. On average, equities 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 share buyback plan on Monday, August 11th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 8.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Inspire Medical Systems

In related news, CFO Richard Buchholz sold 11,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 44,867 shares of the company's stock, valued at approximately $4,190,129.13. This trade represents a 19.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.10% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on INSP. Wells Fargo & Company dropped their price objective 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 shares of Inspire Medical Systems from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $195.00 to $110.00 in a research report on Tuesday, August 5th. Wall Street Zen lowered shares of Inspire Medical Systems from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Lake Street Capital set a $150.00 target price on shares of Inspire Medical Systems and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada cut their target price on shares of 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. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $164.50.

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.