Wellington Management Group LLP Sells 36,853 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• Wellington Management Group LLP reduced its stake in Inspire Medical Systems by 15.1%, now holding 207,535 shares worth approximately $33 million as of their latest SEC filing.
• Inspire Medical Systems reported a profit of $0.45 EPS for the last quarter, exceeding the consensus estimate of $0.22 EPS, alongside a revenue of $217.09 million.
• The company has initiated a $200 million stock repurchase plan, indicating the board's belief that the stock may be undervalued.

Wellington Management Group LLP trimmed its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 15.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 207,535 shares of the company's stock after selling 36,853 shares during the period. Wellington Management Group LLP owned approximately 0.70% of Inspire Medical Systems worth $33,056,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INSP. Mariner LLC increased its stake in Inspire Medical Systems by 1.6% during the fourth quarter. Mariner LLC now owns 4,837 shares of the company's stock valued at $897,000 after acquiring an additional 77 shares during the period. First Trust Advisors LP bought a new stake in Inspire Medical Systems during the 4th quarter worth approximately $18,837,000. Dimensional Fund Advisors LP grew its position in Inspire Medical Systems by 98.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 232,333 shares of the company's stock worth $43,069,000 after acquiring an additional 115,024 shares during the last quarter. MML Investors Services LLC grew its position in Inspire Medical Systems by 0.9% during the 4th quarter. MML Investors Services LLC now owns 7,941 shares of the company's stock worth $1,472,000 after acquiring an additional 67 shares during the last quarter. Finally, State of Tennessee Department of Treasury boosted its position in Inspire Medical Systems by 49.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 14,229 shares of the company's stock valued at $2,638,000 after buying an additional 4,684 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Stock Up 0.8%

Shares of NYSE:INSP traded up $0.75 during midday trading on Wednesday, reaching $92.50. The company had a trading volume of 1,248,281 shares, compared to its average volume of 1,685,257. The business's 50 day moving average price is $115.37 and its 200 day moving average price is $142.88. The stock has a market cap of $2.74 billion, a PE ratio of 53.47, a P/E/G ratio of 2.86 and a beta of 1.22. Inspire Medical Systems, Inc. has a 1-year low of $73.92 and a 1-year high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.45 earnings per share (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 the consensus estimate of $214.50 million. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.Inspire Medical Systems's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. On average, research analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems declared that its board has approved a share repurchase program on Monday, August 11th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 8.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on INSP. UBS Group set a $230.00 price objective on Inspire Medical Systems and gave the company a "buy" rating in a research report on Tuesday, August 5th. Robert W. Baird raised their price objective on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Stifel Nicolaus set a $140.00 price target on Inspire Medical Systems and gave the company a "hold" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. downgraded Inspire Medical Systems from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $195.00 to $110.00 in a research note on Tuesday, August 5th. Finally, Leerink Partners dropped their price target on Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating on the stock in a research note on Friday, August 15th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $165.62.

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.