American Century Companies Inc. Raises Stock Holdings in Inspire Medical Systems, Inc. $INSP

Key Points

• American Century Companies Inc. increased its stake in Inspire Medical Systems by 64.4% in the first quarter, owning 18,432 shares valued at approximately $2.9 million.
• A number of institutional investors have also made significant adjustments to their positions, leading to 94.91% of the stock being held by institutional investors and hedge funds.
• Inspire Medical Systems reported an earnings per share (EPS) of $0.45, beating expectations, and has announced a stock repurchase program worth $200 million.

American Century Companies Inc. grew its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 64.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,432 shares of the company's stock after purchasing an additional 7,218 shares during the period. American Century Companies Inc. owned approximately 0.06% of Inspire Medical Systems worth $2,936,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC raised its stake in shares of Inspire Medical Systems by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 4,055 shares of the company's stock worth $646,000 after buying an additional 521 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Inspire Medical Systems by 253.7% during the 1st quarter. GAMMA Investing LLC now owns 573 shares of the company's stock worth $91,000 after buying an additional 411 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of Inspire Medical Systems by 132.7% during the 1st quarter. New York State Teachers Retirement System now owns 21,390 shares of the company's stock worth $3,407,000 after buying an additional 12,196 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Inspire Medical Systems by 1.7% during the 1st quarter. Bessemer Group Inc. now owns 7,183 shares of the company's stock worth $1,145,000 after buying an additional 123 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Inspire Medical Systems by 356.5% during the 1st quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley dropped their price objective on Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Piper Sandler dropped their price objective on 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. Wall Street Zen cut Inspire Medical Systems from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Leerink Partners dropped their price objective on Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating for the company in a research report on Friday, August 15th. Finally, Truist Financial reiterated 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. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Inspire Medical Systems currently has an average rating of "Moderate Buy" and an average price target of $164.50.

Inspire Medical Systems Price Performance

NYSE INSP traded up $0.83 during mid-day trading on Tuesday, hitting $94.52. The company's stock had a trading volume of 824,467 shares, compared to its average volume of 1,646,523. Inspire Medical Systems, Inc. has a 52-week low of $73.92 and a 52-week high of $225.00. The firm has a market capitalization of $2.79 billion, a P/E ratio of 40.74, a price-to-earnings-growth ratio of 2.92 and a beta of 1.15. The stock's fifty day simple moving average is $112.38 and its two-hundred day simple moving average is $140.06.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its earnings results 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. 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 during the quarter, compared to analyst estimates of $214.50 million. During the same quarter last year, the firm earned $0.32 earnings per share. The company's revenue for the quarter was up 10.8% compared to the same quarter last year. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. On average, equities analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

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

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.