AIA Group Ltd Sells 1,354 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

AIA Group Ltd lowered its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 11.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,412 shares of the company’s stock after selling 1,354 shares during the quarter. AIA Group Ltd’s holdings in Inspire Medical Systems were worth $1,658,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of INSP. Parallel Advisors LLC grew its holdings in Inspire Medical Systems by 356.5% during the first quarter. Parallel Advisors LLC now owns 210 shares of the company’s stock worth $33,000 after buying an additional 164 shares in the last quarter. True Wealth Design LLC grew its holdings in Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock worth $36,000 after buying an additional 55 shares in the last quarter. GAMMA Investing LLC grew its holdings in Inspire Medical Systems by 253.7% during the first quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $91,000 after buying an additional 411 shares in the last quarter. Archer Investment Corp bought a new position in Inspire Medical Systems in the 1st quarter valued at $96,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Inspire Medical Systems in the 4th quarter valued at $166,000. Institutional investors own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

INSP has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Inspire Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. downgraded Inspire Medical Systems from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $195.00 to $110.00 in a research note on Tuesday, August 5th. Truist Financial restated a “hold” rating and issued a $125.00 price objective (down previously from $190.00) on shares of Inspire Medical Systems in a research note on Tuesday, August 5th. 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 note on Tuesday, August 5th. Finally, Royal Bank Of Canada reduced their price objective on Inspire Medical Systems from $215.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, August 5th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

Inspire Medical Systems Stock Performance

Shares of INSP opened at $79.62 on Tuesday. The stock’s 50-day simple moving average is $125.69 and its 200 day simple moving average is $150.62. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 46.02, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22. 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) last issued its quarterly earnings data 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 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 firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 EPS. On average, research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems announced that its Board of Directors has initiated a share repurchase program on Monday, August 11th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 8.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.