UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Buys 759,090 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• UBS AM significantly increased its holdings in Inspire Medical Systems by 214.5% during the first quarter, acquiring an additional 759,090 shares, bringing its total ownership to 1,112,925 shares valued at approximately $177 million.
• Inspire Medical Systems has recently announced a $200 million stock repurchase plan, indicating management's belief that the stock is undervalued.
• The company reported strong earnings, with $0.45 EPS for the last quarter, surpassing analysts' expectations, and has set a guidance of 0.400-0.500 EPS for FY 2025.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 214.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,112,925 shares of the company's stock after buying an additional 759,090 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 3.77% of Inspire Medical Systems worth $177,267,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. United Services Automobile Association acquired a new stake in shares of Inspire Medical Systems during the 1st quarter worth about $302,000. Goldman Sachs Group Inc. lifted its holdings in shares of Inspire Medical Systems by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company's stock worth $8,190,000 after acquiring an additional 18,857 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Inspire Medical Systems during the 1st quarter worth approximately $474,000. Integrated Wealth Concepts LLC purchased a new position in shares of Inspire Medical Systems during the 1st quarter worth approximately $524,000. Finally, Eventide Asset Management LLC increased its holdings in Inspire Medical Systems by 144.9% in the 1st 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. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on INSP shares. Leerink Partners reduced their target price on shares of Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating on the stock in a report on Friday, August 15th. Evercore ISI started coverage on shares of Inspire Medical Systems in a research note on Tuesday, September 2nd. They issued an "outperform" rating and a $150.00 price target on the stock. Piper Sandler lowered their target price on shares of Inspire Medical Systems from $233.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 5th. JPMorgan Chase & Co. lowered shares of Inspire Medical Systems from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $195.00 to $110.00 in a research report on Tuesday, August 5th. Finally, Wall Street Zen downgraded Inspire Medical Systems from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $164.50.

Insider Activity

In related news, CFO Richard Buchholz sold 11,000 shares of the company's 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 completion of the sale, the chief financial officer directly owned 44,867 shares of the company's stock, valued at approximately $4,190,129.13. This represents a 19.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of INSP stock traded up $0.47 during trading hours on Tuesday, hitting $81.21. 380,103 shares of the company were exchanged, compared to its average volume of 713,609. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 47.01, a P/E/G ratio of 2.50 and a beta of 1.15. Inspire Medical Systems, Inc. has a one year low of $73.92 and a one year high of $218.52. The business's 50-day simple moving average is $103.93 and its two-hundred day simple moving average is $133.42.

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

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

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.