Russell Investments Group Ltd. Purchases 4,715 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• Russell Investments Group Ltd. increased its stake in Inspire Medical Systems by 26.0% in Q1, owning a total of 22,841 shares valued at approximately $3.64 million.
• Inspire Medical Systems reported earnings per share (EPS) of $0.45, exceeding expectations of $0.22, with a revenue increase of 10.8% year-over-year, totaling $217.09 million.
• The company initiated a $200 million share buyback program, indicating confidence in its stock value and authorization to purchase up to 8.6% of its shares.

Russell Investments Group Ltd. grew its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 26.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,841 shares of the company's stock after purchasing an additional 4,715 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.08% of Inspire Medical Systems worth $3,638,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Dragoneer Investment Group LLC acquired a new stake in shares of Inspire Medical Systems in the 4th quarter valued at approximately $161,486,000. Invesco Ltd. raised its holdings in shares of Inspire Medical Systems by 8.3% in the first quarter. Invesco Ltd. now owns 858,572 shares of the company's stock valued at $136,753,000 after purchasing an additional 65,492 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Inspire Medical Systems by 12.9% in the fourth quarter. Janus Henderson Group PLC now owns 567,312 shares of the company's stock valued at $105,173,000 after purchasing an additional 64,703 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Inspire Medical Systems by 9.8% in the first quarter. TimesSquare Capital Management LLC now owns 476,217 shares of the company's stock valued at $75,852,000 after buying an additional 42,411 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in shares of Inspire Medical Systems by 6.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 418,854 shares of the company's stock valued at $77,647,000 after buying an additional 23,838 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on INSP shares. Lake Street Capital set a $150.00 price objective on shares of Inspire Medical Systems and gave the stock a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. downgraded Inspire Medical Systems from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $195.00 to $110.00 in a research note on Tuesday, August 5th. KeyCorp downgraded Inspire Medical Systems from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, August 5th. Wells Fargo & Company lowered their target price on Inspire Medical Systems from $174.00 to $101.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 5th. Finally, Robert W. Baird boosted their target price on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Inspire Medical Systems has a consensus rating of "Moderate Buy" and an average target price of $165.62.

Inspire Medical Systems Stock Performance

Shares of NYSE:INSP traded up $2.40 during midday trading on Friday, hitting $93.86. 656,389 shares of the stock were exchanged, compared to its average volume of 1,731,162. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 54.26, a P/E/G ratio of 2.85 and a beta of 1.22. The business's 50-day moving average price is $113.86 and its 200 day moving average price is $141.65. Inspire Medical Systems, Inc. has a 12 month low of $73.92 and a 12 month high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly 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. The firm 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%.The company's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. As a group, sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

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

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.