Inspire Medical Systems, Inc. $INSP Shares Bought by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Inspire Medical Systems stake by 2,203.1% in the first quarter, adding 241,987 shares to hold 252,971 shares worth approximately $13.05 million. Institutional investors and hedge funds collectively own 94.91% of the company.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $68.00; ratings include 13 Holds, three Buys, one Strong Buy and three Sells.
• Inspire reported quarterly revenue of $200.58 million and EPS of $0.14, beating expectations, although revenue declined 7.6% year over year. Shares opened at $60.12, well below the one-year high of $147.03.

Royal Bank of Canada grew its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 2,203.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,971 shares of the company's stock after purchasing an additional 241,987 shares during the quarter. Royal Bank of Canada owned about 0.88% of Inspire Medical Systems worth $13,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CWM LLC lifted its position in Inspire Medical Systems by 216.1% during the fourth quarter. CWM LLC now owns 354 shares of the company's stock worth $33,000 after buying an additional 242 shares in the last quarter. Havemeyer Place LP purchased a new stake in Inspire Medical Systems in the 4th quarter valued at $39,000. V Square Quantitative Management LLC purchased a new stake in Inspire Medical Systems in the 4th quarter valued at $40,000. Smartleaf Asset Management LLC increased its stake in shares of Inspire Medical Systems by 84.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 449 shares of the company's stock worth $42,000 after acquiring an additional 205 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company's stock worth $60,000 after acquiring an additional 130 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on INSP. KeyCorp reiterated a "sector weight" rating on shares of Inspire Medical Systems in a report on Tuesday. Bank of America lowered shares of Inspire Medical Systems from a "neutral" rating to an "underperform" rating and set a $39.00 price objective for the company. in a report on Friday, May 22nd. UBS Group started coverage on shares of Inspire Medical Systems in a research note on Tuesday, July 28th. They set a "sell" rating and a $39.00 target price on the stock. Stifel Nicolaus set a $75.00 target price on shares of Inspire Medical Systems in a report on Tuesday. Finally, Evercore set a $54.00 price target on shares of Inspire Medical Systems in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $68.00.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $60.12 on Friday. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 4.48 and a beta of 0.70. The firm has a 50 day simple moving average of $47.64 and a 200-day simple moving average of $54.51. Inspire Medical Systems, Inc. has a one year low of $38.91 and a one year high of $147.03.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.38. Inspire Medical Systems had a net margin of 15.03% and a return on equity of 8.64%. The company had revenue of $200.58 million for the quarter, compared to analyst estimates of $194.72 million. During the same period in the prior year, the business earned $0.45 EPS. The firm's quarterly revenue was down 7.6% on a year-over-year basis. Inspire Medical Systems has set its FY 2026 guidance at 1.050-1.450 EPS. Equities analysts predict that Inspire Medical Systems, Inc. will post 1.24 EPS for the current fiscal year.

About Inspire Medical Systems

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source