14,750 Shares in Inspire Medical Systems, Inc. (NYSE:INSP) Acquired by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC has acquired a $2.35 million stake in Inspire Medical Systems by purchasing 14,750 shares during the first quarter, resulting in a 0.05% ownership of the company.
• Multiple institutional investors have increased their holdings in Inspire Medical Systems, with significant raises including GAMMA Investing LLC increasing by 253.7%.
• The company reported earnings per share of $0.45 for the last quarter, exceeding estimates, and has announced a $200 million stock buyback plan indicating leadership's belief that shares may be undervalued.

Townsquare Capital LLC bought a new position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 14,750 shares of the company's stock, valued at approximately $2,349,000. Townsquare Capital LLC owned 0.05% of Inspire Medical Systems as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Dragoneer Investment Group LLC acquired a new stake in shares of Inspire Medical Systems during the fourth quarter worth $161,486,000. Janus Henderson Group PLC raised its holdings in shares of Inspire Medical Systems by 12.9% during the fourth quarter. Janus Henderson Group PLC now owns 567,312 shares of the company's stock worth $105,173,000 after acquiring an additional 64,703 shares during the period. TimesSquare Capital Management LLC raised its holdings in shares of Inspire Medical Systems by 9.8% during the first quarter. TimesSquare Capital Management LLC now owns 476,217 shares of the company's stock worth $75,852,000 after acquiring an additional 42,411 shares during the period. Frontier Capital Management Co. LLC raised its holdings in shares of Inspire Medical Systems by 6.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 418,854 shares of the company's stock worth $77,647,000 after acquiring an additional 23,838 shares during the period. Finally, Bamco Inc. NY raised its holdings in shares of Inspire Medical Systems by 2.5% during the fourth quarter. Bamco Inc. NY now owns 347,800 shares of the company's stock worth $64,475,000 after acquiring an additional 8,500 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Performance

Shares of INSP stock traded up $3.09 during midday trading on Friday, hitting $87.67. 1,031,909 shares of the company were exchanged, compared to its average volume of 1,514,665. The firm has a market capitalization of $2.59 billion, a P/E ratio of 50.68, a PEG ratio of 2.74 and a beta of 1.22. The firm's 50 day moving average price is $121.60 and its two-hundred day moving average price is $148.02. Inspire Medical Systems, Inc. has a 52 week low of $73.92 and a 52 week high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.22 by $0.23. The business had revenue of $217.09 million during the quarter, compared to the consensus estimate of $214.50 million. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. Inspire Medical Systems's revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. 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 authorized a stock repurchase program on Monday, August 11th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 8.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of Inspire Medical Systems from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. downgraded shares of Inspire Medical Systems from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $195.00 to $110.00 in a research report on Tuesday, August 5th. KeyCorp downgraded shares of Inspire Medical Systems from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, August 5th. Finally, Truist Financial reaffirmed a "hold" rating and issued a $125.00 target price (down previously from $190.00) on shares of Inspire Medical Systems in a research report on Tuesday, August 5th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Inspire Medical Systems has a consensus rating of "Moderate Buy" and an average price target of $165.62.

Inspire Medical Systems Company 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.