Tri Locum Partners LP Reduces Stock Holdings in Inspire Medical Systems, Inc. $INSP

Key Points

• Tri Locum Partners LP reduced its stake in Inspire Medical Systems by 47.7%, now holding approximately 6.4% of its investment portfolio, making it their 5th largest position.
• Inspire Medical Systems reported a quarterly revenue of $217.09 million, exceeding analyst expectations, and earned $0.45 per share, significantly above the consensus estimate of $0.22.
• The company's Board of Directors has authorized a stock buyback program allowing repurchase of up to $200 million in outstanding shares, signaling confidence in the stock's valuation.

Tri Locum Partners LP decreased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 47.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,812 shares of the company's stock after selling 71,976 shares during the period. Inspire Medical Systems accounts for about 6.4% of Tri Locum Partners LP's portfolio, making the stock its 5th biggest holding. Tri Locum Partners LP owned approximately 0.27% of Inspire Medical Systems worth $12,553,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in INSP. Dragoneer Investment Group LLC bought a new position in Inspire Medical Systems during the fourth quarter valued at approximately $161,486,000. Congress Asset Management Co. boosted its stake in 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 buying an additional 299,949 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in 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 buying an additional 188,492 shares during the last quarter. Nuveen LLC bought a new position in Inspire Medical Systems during the first quarter valued at approximately $21,761,000. Finally, Dimensional Fund Advisors LP boosted its stake in 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 buying an additional 115,024 shares during the last quarter. Institutional investors own 94.91% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on INSP shares. Wall Street Zen lowered Inspire Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Wells Fargo & Company lowered their price objective 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 lowered their price objective 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. Stifel Nicolaus set a $140.00 price objective on Inspire Medical Systems and gave the company a "hold" rating in a research note on Tuesday, August 5th. Finally, Robert W. Baird raised their price objective on Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Inspire Medical Systems presently has an average rating of "Moderate Buy" and a consensus target price of $165.62.

Inspire Medical Systems Trading Up 2.6%

Shares of NYSE INSP traded up $2.40 during midday trading on Monday, hitting $93.86. The company's stock had a trading volume of 656,389 shares, compared to its average volume of 1,718,609. The business's 50 day moving average is $113.86 and its two-hundred day moving average is $141.01. Inspire Medical Systems, Inc. has a 12-month low of $73.92 and a 12-month high of $225.00. The firm has a market cap of $2.78 billion, a P/E ratio of 54.26, a price-to-earnings-growth ratio of 2.92 and a beta of 1.15.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.22 by $0.23. The company had revenue of $217.09 million for 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%.Inspire Medical Systems's quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. On average, analysts predict 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 approved 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 generally a sign that the company's leadership 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.