Oak Associates Ltd. OH Purchases Shares of 6,785 Inspire Medical Systems, Inc. $INSP

Key Points

• Oak Associates Ltd. OH acquired a new stake in Inspire Medical Systems, purchasing 6,785 shares valued at approximately $1,081,000.
• Inspire Medical Systems reported earnings of $0.45 per share for the quarter, surpassing estimates and showing a 10.8% year-over-year revenue increase.
• The company's board initiated a $200 million stock repurchase plan, indicating confidence in the stock's value and aiming to buy back up to 8.6% of its shares.

Oak Associates Ltd. OH purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,785 shares of the company's stock, valued at approximately $1,081,000.

Other hedge funds have also bought and sold shares of the company. Dragoneer Investment Group LLC purchased a new stake in Inspire Medical Systems in the fourth quarter worth $161,486,000. Congress Asset Management Co. increased its position in Inspire Medical Systems by 3,943.6% in the first quarter. Congress Asset Management Co. now owns 307,555 shares of the company's stock worth $48,987,000 after buying an additional 299,949 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Inspire Medical Systems by 869.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 210,160 shares of the company's stock worth $38,959,000 after buying an additional 188,492 shares during the last quarter. Nuveen LLC purchased a new stake in Inspire Medical Systems in the first quarter worth $21,761,000. Finally, Dimensional Fund Advisors LP increased its position in Inspire Medical Systems by 98.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 232,333 shares of the company's stock worth $43,069,000 after buying an additional 115,024 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Stock Down 0.3%

Shares of NYSE INSP traded down $0.26 during trading hours on Tuesday, reaching $93.43. 256,730 shares of the stock traded hands, compared to its average volume of 685,095. The company has a market capitalization of $2.76 billion, a P/E ratio of 54.01, a price-to-earnings-growth ratio of 2.92 and a beta of 1.15. Inspire Medical Systems, Inc. has a 52-week low of $73.92 and a 52-week high of $225.00. The company's 50-day simple moving average is $113.14 and its two-hundred day simple moving average is $140.38.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.23. The company had revenue of $217.09 million for the quarter, compared to analysts' expectations of $214.50 million. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.Inspire Medical Systems's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $0.32 EPS. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. As a group, sell-side analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of analysts have issued reports on INSP shares. Lake Street Capital set a $150.00 target price on Inspire Medical Systems and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Robert W. Baird lifted their price target on Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Morgan Stanley reduced their price target on 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. Piper Sandler reduced their price target on Inspire Medical Systems from $233.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Finally, Evercore ISI started coverage on Inspire Medical Systems in a research report on Tuesday. They issued an "outperform" rating and a $150.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.50.

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.