Inspire Medical Systems, Inc. $INSP Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 248,802 shares of Inspire Medical Systems during the second quarter, worth approximately $11.1 million and representing about 0.86% of the company. Institutional investors and hedge funds collectively own 94.91% of INSP.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $66.50; individual targets range from $60 to $85.
• Inspire reported quarterly EPS of $0.14, beating estimates by $0.38, while revenue of $200.58 million exceeded expectations but declined 7.6% year over year. The stock opened at $70.48, with a market capitalization of approximately $2.04 billion.

Bank of America Corp DE bought a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 248,802 shares of the company's stock, valued at approximately $11,099,000. Bank of America Corp DE owned approximately 0.86% of Inspire Medical Systems at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INSP. Freestone Grove Partners LP acquired a new position in shares of Inspire Medical Systems in the 2nd quarter valued at about $348,000. Odyssean LLC acquired a new stake in shares of Inspire Medical Systems during the 2nd quarter worth approximately $1,172,000. Jupiter Topco LLC acquired a new stake in shares of Inspire Medical Systems during the 2nd quarter worth approximately $601,000. ADAR1 Capital Management LLC acquired a new position in Inspire Medical Systems during the 2nd quarter valued at approximately $16,712,000. Finally, Hsbc Holdings PLC acquired a new position in Inspire Medical Systems during the 2nd quarter valued at approximately $274,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Truist Financial reiterated a "hold" rating and issued a $62.00 target price (up from $54.00) on shares of Inspire Medical Systems in a research note on Tuesday, August 4th. Mizuho increased their price objective on shares of Inspire Medical Systems from $55.00 to $65.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. Oppenheimer upgraded shares of Inspire Medical Systems from a "market perform" rating to an "outperform" rating and set a $85.00 price objective on the stock in a research report on Tuesday, August 4th. JPMorgan Chase & Co. boosted their target price on shares of Inspire Medical Systems from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Inspire Medical Systems from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Inspire Medical Systems presently has a consensus rating of "Hold" and a consensus target price of $66.50.

Insider Buying and Selling

In other Inspire Medical Systems news, insider Jason Kelly sold 963 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $59.55, for a total value of $57,346.65. Following the completion of the sale, the insider directly owned 18,985 shares of the company's stock, valued at approximately $1,130,556.75. This represents a 4.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.20% of the company's stock.

Inspire Medical Systems Price Performance

INSP opened at $70.48 on Friday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 5.33 and a beta of 0.70. Inspire Medical Systems, Inc. has a 1-year low of $38.91 and a 1-year high of $147.03. The business has a 50 day moving average price of $61.54 and a two-hundred day moving average price of $53.34.

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

Inspire Medical Systems Profile

Inspire Medical Systems, Inc develops and commercializes medical devices for treating moderate to severe obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly becomes blocked during sleep. The company's primary product is Inspire therapy, an implantable system designed for patients who are unable to use or obtain consistent benefit from continuous positive airway pressure (CPAP) therapy.

The Inspire system uses a small implantable pulse generator, a breathing-sensing lead and a stimulation lead.

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