Northwest & Ethical Investments L.P. Sells 5,301 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• Northwest & Ethical Investments L.P. has reduced its holdings in Inspire Medical Systems, Inc. by 48.1% in the first quarter, now owning 5,724 shares valued at approximately $912,000.
• Inspire Medical's recent quarterly earnings exceeded expectations, reporting $0.45 EPS on revenues of $217.09 million, reflecting a year-over-year revenue increase of 10.8%.
• The company has initiated a $200 million stock buyback program, indicating leadership's belief that its shares are undervalued.

Northwest & Ethical Investments L.P. decreased its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 48.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,724 shares of the company's stock after selling 5,301 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Inspire Medical Systems were worth $912,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC increased its stake in shares of Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 55 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Inspire Medical Systems by 356.5% during the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock valued at $33,000 after purchasing an additional 164 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Inspire Medical Systems by 253.7% during the first quarter. GAMMA Investing LLC now owns 573 shares of the company's stock valued at $91,000 after acquiring an additional 411 shares in the last quarter. Archer Investment Corp bought a new stake in shares of Inspire Medical Systems during the first quarter valued at approximately $96,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Inspire Medical Systems during the fourth quarter valued at approximately $166,000. Institutional investors own 94.91% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on INSP. Wells Fargo & Company reduced their price target on shares of Inspire Medical Systems from $174.00 to $101.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 5th. Lake Street Capital set a $150.00 price target on shares of Inspire Medical Systems and gave the company a "buy" rating in a research report on Tuesday, August 5th. Morgan Stanley reduced their price target on shares of Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Leerink Partners reduced their price target on shares of Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating for the company in a research report on Friday, August 15th. Finally, Wall Street Zen downgraded shares of Inspire Medical Systems from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $165.62.

Inspire Medical Systems Stock Performance

Shares of INSP stock traded down $2.7860 during mid-day trading on Monday, reaching $93.2040. 740,804 shares of the company's stock traded hands, compared to its average volume of 1,653,005. Inspire Medical Systems, Inc. has a 12 month low of $73.92 and a 12 month high of $225.00. The firm has a 50 day moving average price of $116.83 and a two-hundred day moving average price of $143.59. The firm has a market capitalization of $2.76 billion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 2.99 and a beta of 1.22.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data 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. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The firm had revenue of $217.09 million during the quarter, compared to the consensus estimate of $214.50 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The company's revenue for the quarter 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 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 of Directors has authorized a stock repurchase program on Monday, August 11th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 8.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

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.