Rhenman & Partners Asset Management AB Has $3.96 Million Stock Holdings in Inspire Medical Systems, Inc. $INSP

Rhenman & Partners Asset Management AB raised its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 90.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,500 shares of the company’s stock after buying an additional 14,500 shares during the period. Rhenman & Partners Asset Management AB owned about 0.10% of Inspire Medical Systems worth $3,958,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Allianz Asset Management GmbH grew its stake in Inspire Medical Systems by 1.6% in the first quarter. Allianz Asset Management GmbH now owns 5,000 shares of the company’s stock valued at $796,000 after purchasing an additional 78 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Inspire Medical Systems during the first quarter valued at approximately $2,952,000. Cetera Investment Advisers raised its position in Inspire Medical Systems by 13.3% during the first quarter. Cetera Investment Advisers now owns 18,951 shares of the company’s stock valued at $3,018,000 after acquiring an additional 2,231 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Inspire Medical Systems by 4.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,031 shares of the company’s stock valued at $1,279,000 after acquiring an additional 369 shares during the last quarter. Finally, LPL Financial LLC grew its position in Inspire Medical Systems by 3.2% in the first quarter. LPL Financial LLC now owns 10,126 shares of the company’s stock worth $1,613,000 after acquiring an additional 315 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Richard Buchholz sold 11,000 shares of the company’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Inspire Medical Systems Stock Up 11.1%

Shares of INSP stock opened at $130.28 on Wednesday. Inspire Medical Systems, Inc. has a 12 month low of $70.77 and a 12 month high of $216.01. The firm has a market cap of $3.79 billion, a PE ratio of 88.63, a price-to-earnings-growth ratio of 12.71 and a beta of 1.14. The stock has a 50 day moving average of $81.61 and a 200-day moving average of $105.57.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.53. The business had revenue of $224.50 million for the quarter, compared to analyst estimates of $220.39 million. Inspire Medical Systems had a net margin of 5.05% and a return on equity of 9.41%. Inspire Medical Systems’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, 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 initiated a stock repurchase plan on Monday, August 11th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 8.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group restated a “hold” rating and set a $85.00 price target (down previously from $160.00) on shares of Inspire Medical Systems in a report on Friday, October 24th. Piper Sandler reissued an “overweight” rating and set a $135.00 target price (down from $150.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 4th. Evercore ISI reduced their price target on Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. 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 note on Friday, August 15th. Finally, JPMorgan Chase & Co. cut their price objective on Inspire Medical Systems from $110.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 4th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $132.56.

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.