UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $177.27 Million Holdings in 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 boosted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 214.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,112,925 shares of the company's stock after purchasing 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 quarter.

Several other hedge funds have also recently added to or reduced their stakes in INSP. Invesco Ltd. lifted its position in shares of Inspire Medical Systems by 8.3% in the 1st quarter. Invesco Ltd. now owns 858,572 shares of the company's stock worth $136,753,000 after acquiring an additional 65,492 shares during the period. TimesSquare Capital Management LLC lifted its position in shares of Inspire Medical Systems by 9.8% in the 1st 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. Congress Asset Management Co. lifted its position in shares of Inspire Medical Systems by 3,943.6% in the 1st quarter. Congress Asset Management Co. now owns 307,555 shares of the company's stock worth $48,987,000 after acquiring an additional 299,949 shares during the period. Eventide Asset Management LLC lifted its position in shares of Inspire Medical Systems by 144.9% in the 1st quarter. Eventide Asset Management LLC now owns 306,301 shares of the company's stock worth $48,785,000 after acquiring an additional 181,211 shares during the period. Finally, Braidwell LP lifted its position in shares of Inspire Medical Systems by 3.1% in the 1st quarter. Braidwell LP now owns 302,410 shares of the company's stock worth $48,168,000 after acquiring an additional 9,000 shares during the period. Institutional investors own 94.91% of the company's stock.

Analyst Ratings Changes

INSP has been the subject of a number of research reports. Piper Sandler reduced their price objective on Inspire Medical Systems from $233.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Wells Fargo & Company cut 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 report on Tuesday, August 5th. Truist Financial restated a "hold" rating and set a $125.00 target price (down previously from $190.00) on shares of Inspire Medical Systems in a research report on Tuesday, August 5th. Wall Street Zen downgraded Inspire Medical Systems from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. downgraded Inspire Medical Systems from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $195.00 to $110.00 in a research report on Tuesday, August 5th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.50.

Insider Activity at Inspire Medical Systems

In other news, CFO Richard Buchholz sold 11,000 shares of Inspire Medical Systems stock in a transaction on 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 approximately $4,190,129.13. This trade 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. Company insiders own 2.30% of the company's stock.

Inspire Medical Systems Stock Up 0.4%

INSP stock traded up $0.33 during midday trading on Wednesday, reaching $81.13. 134,757 shares of the company's stock traded hands, compared to its average volume of 712,139. The company has a 50-day simple moving average of $102.87 and a two-hundred day simple moving average of $133.05. Inspire Medical Systems, Inc. has a 1-year low of $73.92 and a 1-year high of $218.52. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 2.52 and a beta of 1.15.

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. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.The firm had revenue of $217.09 million during the quarter, compared to analysts' expectations of $214.50 million. During the same period last year, the firm posted $0.32 EPS. The business's revenue was up 10.8% on a year-over-year basis. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. Equities research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Inspire Medical Systems announced that its board has approved 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 purchase up to 8.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are 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.