Inspire Medical Systems, Inc. $INSP Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lowered its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 44.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 242,203 shares of the company's stock after selling 196,641 shares during the period. AQR Capital Management LLC owned approximately 0.82% of Inspire Medical Systems worth $37,104,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Braidwell LP lifted its stake in Inspire Medical Systems by 3.1% in the first quarter. Braidwell LP now owns 302,410 shares of the company's stock worth $48,168,000 after acquiring an additional 9,000 shares during the last quarter. Royal Bank of Canada lifted its stake in Inspire Medical Systems by 16.0% in the first quarter. Royal Bank of Canada now owns 32,769 shares of the company's stock worth $5,220,000 after acquiring an additional 4,528 shares during the last quarter. Quarry LP lifted its stake in Inspire Medical Systems by 2,127.3% in the first quarter. Quarry LP now owns 245 shares of the company's stock worth $39,000 after acquiring an additional 234 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Inspire Medical Systems by 10.2% in the first quarter. Baird Financial Group Inc. now owns 31,298 shares of the company's stock worth $4,985,000 after acquiring an additional 2,907 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in Inspire Medical Systems in the first quarter worth approximately $11,428,000. Hedge funds and other institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Trading Down 2.0%

Shares of Inspire Medical Systems stock traded down $1.64 during trading on Friday, reaching $81.16. The company's stock had a trading volume of 222,268 shares, compared to its average volume of 710,075. The company has a 50-day moving average price of $105.81 and a two-hundred day moving average price of $135.64. The firm has a market cap of $2.40 billion, a PE ratio of 46.87, a P/E/G ratio of 2.46 and a beta of 1.15. Inspire Medical Systems, Inc. has a fifty-two week low of $73.92 and a fifty-two week high of $218.52.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.23. The business had revenue of $217.09 million for the quarter, compared to analysts' expectations of $214.50 million. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The company's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. On average, analysts predict 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 initiated a stock repurchase plan on Monday, August 11th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 8.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

INSP has been the subject of a number of recent research reports. Piper Sandler decreased their price target on shares of Inspire Medical Systems from $233.00 to $150.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. Leerink Partners decreased their price target on shares of Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating for the company in a research note on Friday, August 15th. UBS Group set a $230.00 price objective on shares of Inspire Medical Systems and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded shares of Inspire Medical Systems from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. downgraded shares of Inspire Medical Systems from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $195.00 to $110.00 in a research report on Tuesday, August 5th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.50.

Insider Activity at Inspire Medical Systems

In other news, CFO Richard Buchholz sold 11,000 shares of Inspire Medical Systems stock in a transaction on Friday, August 29th. The shares were sold at an average price of $93.39, for a total value of $1,027,290.00. Following the transaction, the chief financial officer directly owned 44,867 shares of the company's stock, valued at $4,190,129.13. The trade was a 19.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is owned by insiders.

Inspire Medical Systems Company 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.