Inspire Medical Systems, Inc. $INSP Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management cut its stake in Inspire by 83.8%, selling 44,082 shares and leaving 8,501 shares valued at about $631,000 per its latest SEC filing.
• Inspire beat expectations for the quarter, reporting EPS of $1.65 vs. a $0.69 consensus and revenue of $269.08M, up 12.2% year‑over‑year.
• Institutional investors own roughly 94.91% of INSP, and analysts have a consensus "Hold" rating with an average target price of $104.24.

Intech Investment Management LLC lowered its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 83.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 8,501 shares of the company's stock after selling 44,082 shares during the period. Intech Investment Management LLC's holdings in Inspire Medical Systems were worth $631,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Manning & Napier Advisors LLC bought a new stake in Inspire Medical Systems in the third quarter valued at about $32,000. Pilgrim Partners Asia Pte Ltd bought a new position in Inspire Medical Systems during the 3rd quarter worth approximately $49,000. Daiwa Securities Group Inc. lifted its holdings in Inspire Medical Systems by 38.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company's stock worth $60,000 after buying an additional 130 shares during the last quarter. Covestor Ltd grew its position in shares of Inspire Medical Systems by 3,708.7% in the 3rd quarter. Covestor Ltd now owns 1,752 shares of the company's stock worth $130,000 after acquiring an additional 1,706 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Inspire Medical Systems by 36.0% in the 3rd quarter. US Bancorp DE now owns 2,779 shares of the company's stock worth $206,000 after acquiring an additional 736 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $59.53 on Wednesday. The company has a 50-day simple moving average of $75.86 and a 200-day simple moving average of $86.67. The firm has a market capitalization of $1.70 billion, a P/E ratio of 11.95, a P/E/G ratio of 3.06 and a beta of 0.74. Inspire Medical Systems, Inc. has a one year low of $53.11 and a one year high of $179.18.

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 for the quarter, beating the consensus estimate of $0.69 by $0.96. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The firm had revenue of $269.08 million for the quarter, compared to the consensus estimate of $264.02 million. During the same period last year, the firm posted $1.15 EPS. Inspire Medical Systems's quarterly revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INSP. Robert W. Baird set a $74.00 price target on Inspire Medical Systems and gave the company a "neutral" rating in a research report on Thursday, February 12th. Wolfe Research lowered shares of Inspire Medical Systems from an "outperform" rating to a "peer perform" rating in a research note on Friday, February 13th. Truist Financial dropped their target price on shares of Inspire Medical Systems from $96.00 to $70.00 and set a "hold" rating on the stock in a report on Thursday, February 12th. Oppenheimer downgraded shares of Inspire Medical Systems from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company set a $70.00 price target on shares of Inspire Medical Systems and gave the company an "equal weight" rating in a report on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $104.24.

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.

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