Algert Global LLC Buys 16,808 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• Algert Global LLC increased its stake in Inspire Medical Systems by 39.1%, owning 59,820 shares valued at approximately $9.5 million as of the latest quarter.
• Inspire Medical Systems reported earnings of $0.45 per share for the last quarter, exceeding expectations and marking a 10.8% increase in year-over-year revenue.
• The company's board has approved a $200 million share buyback plan, indicating confidence in the stock's value.

Algert Global LLC increased its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 39.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 59,820 shares of the company's stock after purchasing an additional 16,808 shares during the quarter. Algert Global LLC owned approximately 0.20% of Inspire Medical Systems worth $9,528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INSP. Dragoneer Investment Group LLC bought a new position in Inspire Medical Systems in the 4th quarter worth approximately $161,486,000. Congress Asset Management Co. increased its position in Inspire Medical Systems by 3,943.6% in the 1st quarter. Congress Asset Management Co. now owns 307,555 shares of the company's stock worth $48,987,000 after buying an additional 299,949 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Inspire Medical Systems by 869.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 210,160 shares of the company's stock worth $38,959,000 after buying an additional 188,492 shares during the period. Nuveen LLC bought a new position in Inspire Medical Systems in the 1st quarter worth approximately $21,761,000. Finally, Dimensional Fund Advisors LP increased its position in Inspire Medical Systems by 98.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 232,333 shares of the company's stock worth $43,069,000 after buying an additional 115,024 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INSP has been the topic of several recent analyst reports. Robert W. Baird lifted their price target on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. downgraded Inspire Medical Systems from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $195.00 to $110.00 in a research report on Tuesday, August 5th. Royal Bank Of Canada dropped their price target on Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. Stifel Nicolaus set a $140.00 price target on Inspire Medical Systems and gave the stock a "hold" rating in a research report on Tuesday, August 5th. Finally, 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. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $165.62.

Inspire Medical Systems Price Performance

Shares of INSP traded up $2.7840 on Friday, reaching $94.4040. 202,888 shares of the stock traded hands, compared to its average volume of 682,043. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 54.62, a P/E/G ratio of 2.90 and a beta of 1.22. Inspire Medical Systems, Inc. has a 12 month low of $73.92 and a 12 month high of $225.00. The stock's 50-day moving average price is $118.18 and its 200-day moving average price is $145.50.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.23. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.The firm had revenue of $217.09 million for the quarter, compared to analysts' expectations of $214.50 million. During the same period in the prior year, the business posted $0.32 earnings per share. The business's revenue was up 10.8% compared to the same quarter last year. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. As a group, equities research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems announced that its Board of Directors has authorized a share repurchase plan on Monday, August 11th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 8.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Inspire Medical Systems 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.