Nordea Investment Management AB Acquires New Position in Inspire Medical Systems, Inc. $INSP

Key Points

• Nordea Investment Management AB has acquired a new position in Inspire Medical Systems, purchasing 12,624 shares valued at approximately $1,634,000.
• Inspire Medical Systems announced a share buyback plan authorizing the repurchase of $200 million in outstanding shares, indicating that management believes the stock is undervalued.
• The company recently exceeded analysts' revenue expectations with a reported $217.09 million for the quarter, along with earnings per share of $0.45, beating estimates by $0.23.

Nordea Investment Management AB bought a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,624 shares of the company's stock, valued at approximately $1,634,000.

Several other institutional investors have also modified their holdings of INSP. Quarry LP increased its position in shares of Inspire Medical Systems by 2,127.3% during 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 period. Banque Transatlantique SA acquired a new position in Inspire Medical Systems during the 1st quarter worth $46,000. Smartleaf Asset Management LLC increased its holdings in Inspire Medical Systems by 27.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 454 shares of the company's stock worth $71,000 after purchasing an additional 97 shares during the period. Farther Finance Advisors LLC raised its position in Inspire Medical Systems by 14.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 603 shares of the company's stock valued at $78,000 after purchasing an additional 77 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Inspire Medical Systems by 253.7% in the 1st quarter. GAMMA Investing LLC now owns 573 shares of the company's stock valued at $91,000 after buying an additional 411 shares during the period. Institutional investors and hedge funds own 94.91% of the company's stock.

Insider Transactions at Inspire Medical Systems

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

Inspire Medical Systems Trading Down 1.4%

Shares of NYSE INSP opened at $81.60 on Thursday. The stock has a market cap of $2.41 billion, a P/E ratio of 47.17, a P/E/G ratio of 2.58 and a beta of 1.16. Inspire Medical Systems, Inc. has a twelve month low of $70.77 and a twelve month high of $216.01. The stock has a 50 day moving average of $82.73 and a two-hundred day moving average of $117.58.

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. As a group, research analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Inspire Medical Systems declared that its board has initiated a share buyback plan on Monday, August 11th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 8.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

INSP has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of Inspire Medical Systems from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $195.00 to $110.00 in a report on Tuesday, August 5th. Truist Financial decreased their price target on Inspire Medical Systems from $125.00 to $90.00 and set a "hold" rating for the company in a report on Wednesday, October 15th. Evercore ISI lowered their price objective on Inspire Medical Systems from $150.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, October 7th. Stifel Nicolaus set a $140.00 target price on Inspire Medical Systems and gave the stock a "hold" rating in a research report on Tuesday, August 5th. Finally, UBS Group set a $89.00 target price on Inspire Medical Systems and gave the stock a "neutral" rating in a research note on Monday, September 22nd. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Inspire Medical Systems presently has a consensus rating of "Hold" and an average price target of $148.00.

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.

Want to see what other hedge funds are holding INSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Inspire Medical Systems, Inc. (NYSE:INSP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.