Inspire Medical Systems, Inc. $INSP Shares Bought by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC boosted its stake in Inspire Medical Systems by 395.9% in Q4, buying 30,695 shares to own 38,449 shares worth about $3.55 million (≈0.13% of the company).
• Inspire materially beat Q4 expectations with $1.65 EPS vs. $0.69 consensus and revenue of $269.08 million, a 12.2% year-over-year increase.
• Institutional ownership is very high at 94.91%, and major firms including Goldman Sachs, RBC and American Century have recently increased their positions, signaling strong institutional interest.

SG Americas Securities LLC raised its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 395.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,449 shares of the company's stock after buying an additional 30,695 shares during the quarter. SG Americas Securities LLC owned about 0.13% of Inspire Medical Systems worth $3,546,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Royal Bank of Canada grew its stake in Inspire Medical Systems by 16.0% during the 1st quarter. Royal Bank of Canada now owns 32,769 shares of the company's stock valued at $5,220,000 after acquiring an additional 4,528 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Inspire Medical Systems in the 1st quarter valued at about $524,000. Goldman Sachs Group Inc. lifted its stake in Inspire Medical Systems by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company's stock worth $8,190,000 after purchasing an additional 18,857 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Inspire Medical Systems by 207.1% during the 2nd quarter. American Century Companies Inc. now owns 56,604 shares of the company's stock worth $7,346,000 after purchasing an additional 38,172 shares during the last quarter. Finally, Choreo LLC boosted its holdings in shares of Inspire Medical Systems by 9.8% during the 2nd quarter. Choreo LLC now owns 1,877 shares of the company's stock worth $244,000 after purchasing an additional 168 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Performance

INSP stock opened at $54.93 on Friday. The firm has a market cap of $1.58 billion, a PE ratio of 11.03, a PEG ratio of 2.63 and a beta of 0.86. The firm's 50 day moving average price is $62.40 and its 200-day moving average price is $82.73. Inspire Medical Systems, Inc. has a one year low of $48.30 and a one year high of $163.35.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Inspire Medical Systems in a report on Monday, December 29th. Truist Financial lowered their price objective on Inspire Medical Systems from $96.00 to $70.00 and set a "hold" rating on the stock in a research note on Thursday, February 12th. Stifel Nicolaus dropped their target price on Inspire Medical Systems from $95.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, March 5th. UBS Group set a $67.00 target price on Inspire Medical Systems in a research note on Friday, February 13th. Finally, Evercore reiterated an "outperform" rating on shares of Inspire Medical Systems in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Inspire Medical Systems currently has an average 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.

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