Nuveen LLC Takes Position in Inspire Medical Systems, Inc. $INSP

Key Points

• Nuveen LLC has invested approximately $21.76 million in Inspire Medical Systems, acquiring 136,622 shares and holding a 0.46% stake in the company.
• Inspire Medical Systems reported a quarterly earnings per share of $0.45, exceeding analysts' expectations of $0.22, along with a revenue of $217.09 million during the quarter.
• The company has initiated a $200 million share buyback program, indicating management's belief that its stock is currently undervalued.

Nuveen LLC acquired a new position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 136,622 shares of the company's stock, valued at approximately $21,761,000. Nuveen LLC owned 0.46% of Inspire Medical Systems at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of INSP. Dragoneer Investment Group LLC acquired a new position in shares of Inspire Medical Systems during the fourth quarter valued at $161,486,000. Congress Asset Management Co. boosted its holdings in shares of Inspire Medical Systems by 3,943.6% during the first quarter. Congress Asset Management Co. now owns 307,555 shares of the company's stock valued at $48,987,000 after acquiring an additional 299,949 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Inspire Medical Systems by 869.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 210,160 shares of the company's stock valued at $38,959,000 after acquiring an additional 188,492 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Inspire Medical Systems by 98.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 232,333 shares of the company's stock valued at $43,069,000 after acquiring an additional 115,024 shares during the period. Finally, First Trust Advisors LP acquired a new position in shares of Inspire Medical Systems during the fourth quarter valued at $18,837,000. Institutional investors and hedge funds own 94.91% of the company's stock.

Inspire Medical Systems Price Performance

NYSE INSP traded up $3.4960 on Friday, hitting $95.1160. 296,713 shares of the company were exchanged, compared to its average volume of 682,606. The company's 50 day moving average price is $118.18 and its 200-day moving average price is $145.50. The firm has a market capitalization of $2.81 billion, a P/E ratio of 55.00, a price-to-earnings-growth ratio of 2.90 and a beta of 1.22. Inspire Medical Systems, Inc. has a twelve month low of $73.92 and a twelve month high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.23. The firm had revenue of $217.09 million for 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 revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. 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 EPS for the current year.

Inspire Medical Systems announced that its board has initiated a stock buyback program on Monday, August 11th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 8.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

INSP has been the subject of several analyst reports. KeyCorp downgraded shares of Inspire Medical Systems from an "overweight" rating to a "sector weight" rating in a report on Tuesday, August 5th. Lake Street Capital set a $150.00 price objective on shares of Inspire Medical Systems and gave the stock a "buy" rating in a report on Tuesday, August 5th. Truist Financial reaffirmed a "hold" rating and issued a $125.00 price objective (down previously from $190.00) on shares of Inspire Medical Systems in a report on Tuesday, August 5th. Royal Bank Of Canada reduced their price objective on shares of Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating for the company in a report on Tuesday, August 5th. Finally, Wells Fargo & Company reduced their price objective on shares of 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. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $165.62.

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.