Inspire Medical Systems, Inc. $INSP Shares Bought by Rheos Capital Works Inc.

Key Points

• Rheos Capital Works boosted its stake in Inspire Medical Systems by 124% in Q4 to 117,400 shares (about $10.83M), and institutional investors now own roughly 94.91% of the company.
• Inspire beat quarterly expectations with $1.65 EPS (vs. $0.69 consensus) and $269.1M in revenue (up 12.2% YoY); the company has a market cap of about $1.56B and the stock was trading near $54.11.
• Several brokers have cut ratings or price targets recently, leaving a MarketBeat consensus of "Hold" and an average target price of $104.24.

Rheos Capital Works Inc. grew its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 124.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,400 shares of the company's stock after purchasing an additional 65,000 shares during the quarter. Rheos Capital Works Inc. owned approximately 0.40% of Inspire Medical Systems worth $10,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Aberdeen Group plc boosted its stake in Inspire Medical Systems by 16.3% during the 4th quarter. Aberdeen Group plc now owns 460,901 shares of the company's stock worth $42,509,000 after purchasing an additional 64,561 shares during the last quarter. Banque Pictet & Cie SA raised its holdings in shares of Inspire Medical Systems by 797.5% during the 4th quarter. Banque Pictet & Cie SA now owns 24,474 shares of the company's stock worth $2,257,000 after acquiring an additional 21,747 shares during the period. SG Americas Securities LLC raised its holdings in shares of Inspire Medical Systems by 395.9% during the 4th quarter. SG Americas Securities LLC now owns 38,449 shares of the company's stock worth $3,546,000 after acquiring an additional 30,695 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Inspire Medical Systems during the 4th quarter worth $24,441,000. Finally, Diversified Trust Co. raised its holdings in shares of Inspire Medical Systems by 7.6% during the 4th quarter. Diversified Trust Co. now owns 8,432 shares of the company's stock worth $778,000 after acquiring an additional 592 shares during the period. Institutional investors and hedge funds own 94.91% of the company's stock.

Inspire Medical Systems Trading Down 1.6%

Shares of INSP opened at $54.11 on Tuesday. The firm has a market cap of $1.56 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 2.70 and a beta of 0.86. Inspire Medical Systems, Inc. has a 12-month low of $48.30 and a 12-month high of $163.35. The company's 50-day moving average price is $61.37 and its 200 day moving average price is $82.38.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.96. The firm had revenue of $269.08 million for the quarter, compared to analyst estimates of $264.02 million. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. Inspire Medical Systems's revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. Equities research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on INSP. Wolfe Research lowered Inspire Medical Systems from an "outperform" rating to a "peer perform" rating in a report on Friday, February 13th. Oppenheimer lowered Inspire Medical Systems from an "outperform" rating to a "market perform" rating in a report on Thursday, January 22nd. Jefferies Financial Group reduced their price target on Inspire Medical Systems from $81.00 to $66.00 and set a "hold" rating on the stock in a report on Thursday, February 12th. Stifel Nicolaus reduced their price target on Inspire Medical Systems from $95.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. Finally, Truist Financial reduced their price target on Inspire Medical Systems from $96.00 to $70.00 and set a "hold" rating on the stock in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $104.24.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company's flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.