Inspire Medical Systems, Inc. $INSP Position Decreased by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC has decreased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 14.0%, now owning approximately 0.39% of the company valued at $14.78 million.
• Inspire Medical Systems announced a $200 million share buyback program, indicating confidence in the company's value as the board believes the shares may be undervalued.
• Despite recent challenges, analysts maintain a consensus rating of "Moderate Buy" for Inspire Medical Systems' stock, with a target price of $154.43.

Riverbridge Partners LLC decreased its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 14.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,886 shares of the company's stock after selling 18,505 shares during the period. Riverbridge Partners LLC owned approximately 0.39% of Inspire Medical Systems worth $14,779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its position in shares of Inspire Medical Systems by 9.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 51,777 shares of the company's stock valued at $6,719,000 after purchasing an additional 4,477 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Inspire Medical Systems by 14.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 603 shares of the company's stock valued at $78,000 after purchasing an additional 77 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Inspire Medical Systems by 4.4% in the second quarter. Exchange Traded Concepts LLC now owns 11,177 shares of the company's stock worth $1,450,000 after buying an additional 471 shares during the period. Fox Hill Wealth Management boosted its holdings in shares of Inspire Medical Systems by 23.8% in the second quarter. Fox Hill Wealth Management now owns 5,845 shares of the company's stock worth $758,000 after buying an additional 1,122 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Inspire Medical Systems by 57.9% in the first quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company's stock worth $8,190,000 after buying an additional 18,857 shares during the period. Institutional investors own 94.91% of the company's stock.

Insiders Place Their Bets

In other Inspire Medical Systems news, CFO Richard Buchholz sold 11,000 shares of Inspire Medical Systems stock in a transaction on Friday, August 29th. The shares were sold at an average price of $93.39, for a total transaction of $1,027,290.00. Following the sale, the chief financial officer owned 44,867 shares in the company, valued at $4,190,129.13. The trade was a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is owned by corporate insiders.

Inspire Medical Systems Trading Up 1.0%

Shares of Inspire Medical Systems stock opened at $77.82 on Thursday. The company's fifty day simple moving average is $96.62 and its 200-day simple moving average is $129.23. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 44.98, a PEG ratio of 2.40 and a beta of 1.15. Inspire Medical Systems, Inc. has a 1 year low of $73.92 and a 1 year high of $216.01.

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

Inspire Medical Systems announced that its board has authorized a share buyback program on Monday, August 11th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 8.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on INSP. Piper Sandler reduced their price target on shares of Inspire Medical Systems from $233.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Leerink Partners cut their price objective on shares of Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating on the stock in a research report on Friday, August 15th. Morgan Stanley cut their price objective on shares of Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. JPMorgan Chase & Co. lowered shares of Inspire Medical Systems from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $195.00 to $110.00 in a research report on Tuesday, August 5th. Finally, Truist Financial reaffirmed a "hold" rating and set a $125.00 price objective (down previously from $190.00) on shares of Inspire Medical Systems in a research report on Tuesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.43.

Inspire Medical Systems 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.