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

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in shares of Inspire Medical Systems by 14.7% during the first quarter. SG Americas Securities LLC now owns 4,055 shares of the company's stock worth $646,000 after purchasing an additional 521 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 worth $91,000 after purchasing an additional 411 shares in the last quarter. New York State Teachers Retirement System lifted its stake in shares of Inspire Medical Systems by 132.7% during the first quarter. New York State Teachers Retirement System now owns 21,390 shares of the company's stock worth $3,407,000 after purchasing an additional 12,196 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Inspire Medical Systems by 1.7% during the first quarter. Bessemer Group Inc. now owns 7,183 shares of the company's stock worth $1,145,000 after purchasing an additional 123 shares in the last quarter. Finally, Parallel Advisors LLC lifted 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 worth $33,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP opened at $82.62 on Friday. Inspire Medical Systems, Inc. has a 1 year low of $73.92 and a 1 year high of $218.52. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 47.76, a PEG ratio of 2.46 and a beta of 1.15. The stock's 50-day simple moving average is $105.81 and its 200-day simple moving average is $135.64.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.23. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.The business had revenue of $217.09 million for the quarter, compared to analyst estimates of $214.50 million. During the same period in the previous year, the company earned $0.32 earnings per share. 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, research analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Inspire Medical Systems announced that its Board of Directors has authorized a stock buyback plan on Monday, August 11th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 8.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have commented on INSP shares. Morgan Stanley reduced their price objective on Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. KeyCorp cut Inspire Medical Systems from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, August 5th. Lake Street Capital set a $150.00 price objective on Inspire Medical Systems and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Stifel Nicolaus set a $140.00 target price on Inspire Medical Systems and gave the stock a "hold" rating in a research report on Tuesday, August 5th. Finally, Evercore ISI initiated coverage on Inspire Medical Systems in a research report on Tuesday, September 2nd. They set an "outperform" rating and a $150.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $164.50.

Insiders Place Their Bets

In related news, CFO Richard Buchholz sold 11,000 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $93.39, for a total value of $1,027,290.00. Following the completion of the sale, the chief financial officer directly owned 44,867 shares of the company's stock, valued at $4,190,129.13. The trade was a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is currently owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.