Osterweis Capital Management Inc. Takes Position in Inspire Medical Systems, Inc. $INSP

Key Points

• Osterweis Capital Management Inc. acquired a new stake in Inspire Medical Systems, purchasing 33,143 shares valued at approximately $5.3 million, which amounts to about 0.11% of the company.
• Inspire Medical Systems reported a significant earnings beat with $0.45 EPS, exceeding the consensus estimate by $0.23, and its revenue rose 10.8% from the previous year.
• The company has authorized a $200 million stock buyback plan, indicating confidence from its leadership about the stock's current valuation.

Osterweis Capital Management Inc. purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 33,143 shares of the company's stock, valued at approximately $5,279,000. Osterweis Capital Management Inc. owned approximately 0.11% of Inspire Medical Systems at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of INSP. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Inspire Medical Systems by 214.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,112,925 shares of the company's stock valued at $177,267,000 after acquiring an additional 759,090 shares during the period. Congress Asset Management Co. lifted its position in shares of 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 valued at $48,987,000 after buying an additional 299,949 shares during the last quarter. Eventide Asset Management LLC increased its holdings in shares of Inspire Medical Systems by 144.9% in the first quarter. Eventide Asset Management LLC now owns 306,301 shares of the company's stock valued at $48,785,000 after purchasing an additional 181,211 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Inspire Medical Systems during the 1st quarter worth about $21,761,000. Finally, Man Group plc increased its position in Inspire Medical Systems by 112.7% during the 4th quarter. Man Group plc now owns 175,926 shares of the company's stock worth $32,613,000 after buying an additional 93,214 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Price Performance

Shares of INSP traded up $1.70 during trading hours on Wednesday, hitting $82.50. 257,267 shares of the stock were exchanged, compared to its average volume of 712,728. Inspire Medical Systems, Inc. has a fifty-two week low of $73.92 and a fifty-two week high of $218.52. The business has a 50-day moving average of $102.87 and a 200-day moving average of $133.05. The firm has a market capitalization of $2.44 billion, a P/E ratio of 47.73, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.23. The firm 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 revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $0.32 EPS. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. As a group, analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems declared that its board has initiated a share 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 reacquire up to 8.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

INSP has been the topic of a number of recent analyst reports. Lake Street Capital set a $150.00 target price on Inspire Medical Systems and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wells Fargo & Company lowered 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 research report on Tuesday, August 5th. Stifel Nicolaus set a $140.00 target price on shares of Inspire Medical Systems and gave the company a "hold" rating in a research report on Tuesday, August 5th. Morgan Stanley lowered 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 report on Tuesday, July 15th. Finally, Royal Bank Of Canada reduced their price target on Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating on the stock in a report on Tuesday, August 5th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.50.

Insider Activity

In related news, CFO Richard Buchholz sold 11,000 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $93.39, for a total transaction of $1,027,290.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by insiders.

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.