Northern Trust Corp Buys 16,158 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• Northern Trust Corp increased its holdings in Inspire Medical Systems by 6.6% in the first quarter, owning 260,407 shares valued at $41.48 million.
• Inspire Medical Systems reported a 10.8% year-over-year revenue increase and earnings per share of $0.45, surpassing estimates of $0.22.
• The company has initiated a $200 million stock repurchase plan to buy back approximately 8.6% of its outstanding shares, suggesting management believes its stock is undervalued.

Northern Trust Corp lifted its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,407 shares of the company's stock after purchasing an additional 16,158 shares during the quarter. Northern Trust Corp owned 0.88% of Inspire Medical Systems worth $41,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of INSP. Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 115,024 shares during the last quarter. MML Investors Services LLC raised its position in shares of Inspire Medical Systems by 0.9% in the 4th quarter. MML Investors Services LLC now owns 7,941 shares of the company's stock worth $1,472,000 after purchasing an additional 67 shares during the last quarter. Comerica Bank raised its position in shares of Inspire Medical Systems by 26.6% in the 4th quarter. Comerica Bank now owns 25,159 shares of the company's stock worth $4,664,000 after purchasing an additional 5,285 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Inspire Medical Systems in the 4th quarter worth about $738,000. Finally, BNP Paribas Financial Markets increased its holdings in Inspire Medical Systems by 69.6% in the 4th quarter. BNP Paribas Financial Markets now owns 7,991 shares of the company's stock worth $1,481,000 after buying an additional 3,280 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on INSP. Wells Fargo & Company reduced their price objective on Inspire Medical Systems from $174.00 to $101.00 and set an "equal weight" rating for the company in a report on Tuesday, August 5th. Truist Financial reiterated a "hold" rating and issued a $125.00 price objective (down from $190.00) on shares of Inspire Medical Systems in a report on Tuesday, August 5th. Leerink Partners reduced their price objective on Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating for the company in a report on Friday, August 15th. Evercore ISI began coverage on Inspire Medical Systems in a report on Tuesday. They issued an "outperform" rating and a $150.00 price objective for the company. Finally, Lake Street Capital set a $150.00 price objective on Inspire Medical Systems and gave the stock a "buy" rating in a report on Tuesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Inspire Medical Systems currently has an average rating of "Moderate Buy" and an average target price of $164.50.

Inspire Medical Systems Stock Down 0.1%

Shares of Inspire Medical Systems stock traded down $0.08 during trading hours on Tuesday, reaching $93.61. 382,204 shares of the stock traded hands, compared to its average volume of 685,791. The company has a 50 day moving average price of $113.14 and a 200 day moving average price of $140.38. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 54.11, a P/E/G ratio of 2.92 and a beta of 1.15. Inspire Medical Systems, Inc. has a one year low of $73.92 and a one year high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly 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 during 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%.The business's quarterly revenue was up 10.8% compared to the same quarter last year. 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. Sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

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

About Inspire Medical Systems

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.