Neo Ivy Capital Management Boosts Holdings in Inspire Medical Systems, Inc. $INSP

Key Points

• Neo Ivy Capital Management increased its stake in Inspire Medical Systems by 67,675% in Q3, adding 21,656 shares to hold 21,688 shares worth about $1.61 million, and institutional investors now own roughly 94.91% of the stock.
• Inspire reported a beat for the quarter (EPS $1.65 vs. $0.69 expected; revenue $269.1M, up 12.2% y/y), trades at a market cap of $1.8B, and carries a consensus "Hold" rating with an average price target of $104.24.

Neo Ivy Capital Management raised its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 67,675.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,688 shares of the company's stock after acquiring an additional 21,656 shares during the period. Neo Ivy Capital Management owned approximately 0.07% of Inspire Medical Systems worth $1,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Inspire Medical Systems during the 3rd quarter valued at $32,000. Daiwa Securities Group Inc. boosted its position in shares of Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company's stock worth $60,000 after purchasing an additional 130 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Inspire Medical Systems during the 3rd quarter worth $49,000. Aster Capital Management DIFC Ltd purchased a new position in Inspire Medical Systems during the 3rd quarter worth $72,000. Finally, FORA Capital LLC acquired a new position in Inspire Medical Systems during the 2nd quarter valued at about $220,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock opened at $63.01 on Friday. The stock has a market cap of $1.80 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 3.06 and a beta of 0.74. The firm has a fifty day moving average price of $77.16 and a 200 day moving average price of $87.20. Inspire Medical Systems, Inc. has a 1 year low of $53.11 and a 1 year high of $189.49.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.69 by $0.96. The company had revenue of $269.08 million for the quarter, compared to analyst estimates of $264.02 million. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The firm's revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.15 earnings per share. As a group, equities analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. increased their price target on Inspire Medical Systems from $82.00 to $118.00 and gave the company a "neutral" rating in a research note on Tuesday, December 16th. Evercore restated an "outperform" rating on shares of Inspire Medical Systems in a report on Friday, February 27th. Oppenheimer lowered shares of Inspire Medical Systems from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 22nd. Mizuho lowered their target price on shares of Inspire Medical Systems from $130.00 to $85.00 and set an "outperform" rating for the company in a research note on Thursday, February 12th. Finally, Wolfe Research downgraded shares of Inspire Medical Systems from an "outperform" rating to a "peer perform" rating in a research report on Friday, February 13th. Five research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $104.24.

Inspire Medical Systems Company Profile

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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