VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Holdings in Inspire Medical Systems, Inc. $INSP

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,094 shares of the company’s stock, valued at approximately $921,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP increased its position in shares of Inspire Medical Systems by 2,127.3% during the first quarter. Quarry LP now owns 245 shares of the company’s stock valued at $39,000 after acquiring an additional 234 shares during the last quarter. Banque Transatlantique SA purchased a new stake in shares of Inspire Medical Systems during the first quarter valued at approximately $46,000. Smartleaf Asset Management LLC increased its position in shares of Inspire Medical Systems by 27.2% during the first quarter. Smartleaf Asset Management LLC now owns 454 shares of the company’s stock valued at $71,000 after acquiring an additional 97 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Inspire Medical Systems by 14.6% during the second quarter. Farther Finance Advisors LLC now owns 603 shares of the company’s stock valued at $78,000 after acquiring an additional 77 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Inspire Medical Systems by 253.7% during the first quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock valued at $91,000 after acquiring an additional 411 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on INSP shares. Leerink Partners decreased their price target on Inspire Medical Systems from $116.00 to $97.00 and set a “market perform” rating for the company in a research report on Friday, August 15th. Truist Financial lowered their target price on Inspire Medical Systems from $125.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Wells Fargo & Company dropped their price target on Inspire Medical Systems from $174.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 5th. UBS Group set a $89.00 price objective on Inspire Medical Systems and gave the stock a “neutral” rating in a report on Monday, September 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $150.00 price objective on shares of Inspire Medical Systems in a research note on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $148.00.

Inspire Medical Systems Stock Performance

NYSE:INSP opened at $80.11 on Friday. The business’s fifty day moving average is $82.64 and its 200 day moving average is $117.10. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 46.31, a PEG ratio of 2.54 and a beta of 1.16. Inspire Medical Systems, Inc. has a 52-week low of $70.77 and a 52-week high of $216.01.

Inspire Medical Systems (NYSE:INSP) last posted its 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 business had revenue of $217.09 million during the quarter, compared to analyst estimates of $214.50 million. During the same quarter in the previous year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. Equities analysts predict 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 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 repurchase up to 8.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Richard Buchholz sold 11,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

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.