William Blair Investment Management LLC Raises Position in Inspire Medical Systems, Inc. $INSP

Key Points

• William Blair Investment Management LLC increased its stake in Inspire Medical Systems by 11.0% during the second quarter, holding approximately 2.61% of the company's stock, valued at $99.8 million.
• The company reported $0.45 earnings per share for the last quarter, exceeding analysts' expectations, with a 10.8% year-over-year revenue growth.
• Inspire Medical Systems has authorized a $200 million stock repurchase program, indicating a belief that its shares are currently undervalued.

William Blair Investment Management LLC grew its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 11.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 769,169 shares of the company's stock after purchasing an additional 76,251 shares during the quarter. William Blair Investment Management LLC owned approximately 2.61% of Inspire Medical Systems worth $99,815,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Nordea Investment Management AB purchased a new stake in Inspire Medical Systems in the 2nd quarter valued at $1,634,000. WCM Investment Management LLC grew its stake in shares of Inspire Medical Systems by 52.0% in the 2nd quarter. WCM Investment Management LLC now owns 110,733 shares of the company's stock worth $14,662,000 after acquiring an additional 37,873 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Inspire Medical Systems by 0.5% in the second quarter. New York State Teachers Retirement System now owns 21,490 shares of the company's stock valued at $2,789,000 after purchasing an additional 100 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Inspire Medical Systems by 29.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,360 shares of the company's stock valued at $306,000 after purchasing an additional 538 shares in the last quarter. Finally, Oak Ridge Investments LLC lifted its position in shares of Inspire Medical Systems by 1.0% during the second quarter. Oak Ridge Investments LLC now owns 26,353 shares of the company's stock valued at $3,420,000 after purchasing an additional 263 shares in the last quarter. Institutional investors own 94.91% of the company's stock.

Insiders Place Their Bets

In related news, CFO Richard Buchholz sold 11,000 shares of the business's stock in a transaction dated 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 sale, the chief financial officer directly owned 44,867 shares in the company, valued at approximately $4,190,129.13. The trade was a 19.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.10% of the company's stock.

Inspire Medical Systems Trading Up 0.9%

NYSE:INSP opened at $78.03 on Friday. Inspire Medical Systems, Inc. has a 12 month low of $70.77 and a 12 month high of $216.01. The firm's 50 day moving average is $82.84 and its 200 day moving average is $118.99. The stock has a market capitalization of $2.31 billion, a PE ratio of 45.10, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its 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 business had revenue of $217.09 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. Research analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Inspire Medical Systems declared that its board 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 usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on INSP shares. KeyCorp lowered shares of Inspire Medical Systems from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, August 5th. UBS Group set a $89.00 target price on Inspire Medical Systems and gave the company a "neutral" rating in a report on Monday, September 22nd. Wells Fargo & Company decreased their price target 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. Royal Bank Of Canada reissued an "outperform" rating and issued a $150.00 price objective on shares of Inspire Medical Systems in a research report on Friday, October 10th. Finally, Evercore ISI reduced their price objective on Inspire Medical Systems from $150.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $148.00.

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.

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