Renaissance Technologies LLC Purchases 59,200 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• Renaissance Technologies increased its Inspire Medical Systems stake by 14.4%, purchasing 59,200 additional shares to hold 469,968 shares valued at approximately $24.2 million. Institutional investors collectively own about 94.9% of INSP.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” rating and an average price target of $73.28; price targets and recommendations ranged from Sell to Strong Buy.
• Inspire reported quarterly EPS of $0.10, beating estimates by $0.38, while revenue of $204.6 million rose 1.6% year over year. Shares recently opened at $50.94, well below their 52-week high of $147.03.

Renaissance Technologies LLC increased its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 14.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 469,968 shares of the company's stock after acquiring an additional 59,200 shares during the quarter. Renaissance Technologies LLC owned approximately 1.63% of Inspire Medical Systems worth $24,241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of INSP. Daiwa Securities Group Inc. increased its holdings in shares of Inspire Medical Systems by 38.7% in the second quarter. Daiwa Securities Group Inc. now owns 466 shares of the company's stock worth $60,000 after purchasing an additional 130 shares during the period. State of Wyoming grew its position in Inspire Medical Systems by 31.5% during the fourth quarter. State of Wyoming now owns 731 shares of the company's stock worth $67,000 after buying an additional 175 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Inspire Medical Systems by 84.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 449 shares of the company's stock worth $42,000 after buying an additional 205 shares in the last quarter. Apollon Wealth Management LLC increased its stake in Inspire Medical Systems by 5.6% in the 1st quarter. Apollon Wealth Management LLC now owns 3,997 shares of the company's stock worth $206,000 after acquiring an additional 212 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in Inspire Medical Systems by 5.1% in the 3rd quarter. Blair William & Co. IL now owns 4,865 shares of the company's stock worth $361,000 after acquiring an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada lowered shares of Inspire Medical Systems from a "sector perform" rating to a "buy" rating in a research report on Monday, June 15th. Freedom Capital upgraded shares of Inspire Medical Systems to a "strong-buy" rating in a research report on Tuesday, June 30th. Truist Financial lifted their price objective on shares of Inspire Medical Systems from $50.00 to $54.00 and gave the stock a "hold" rating in a report on Thursday, July 16th. Weiss Ratings cut Inspire Medical Systems from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company lowered their price target on Inspire Medical Systems from $70.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $73.28.

Inspire Medical Systems Price Performance

Shares of INSP stock opened at $50.94 on Thursday. The stock has a market capitalization of $1.47 billion, a PE ratio of 11.35, a P/E/G ratio of 5.26 and a beta of 0.71. Inspire Medical Systems, Inc. has a 1-year low of $38.91 and a 1-year high of $147.03. The business has a 50-day moving average of $45.75 and a 200 day moving average of $56.12.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.28) by $0.38. The company had revenue of $204.58 million for the quarter, compared to the consensus estimate of $200.04 million. Inspire Medical Systems had a net margin of 14.33% and a return on equity of 10.35%. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. Inspire Medical Systems has set its FY 2026 guidance at 0.750-1.250 EPS. Analysts anticipate that Inspire Medical Systems, Inc. will post 0.93 EPS for the current year.

Inspire Medical Systems Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company's flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.

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