Keybank National Association OH Reduces Stock Position in Inspire Medical Systems, Inc. $INSP

Keybank National Association OH lessened its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 200,631 shares of the company’s stock after selling 439 shares during the quarter. Keybank National Association OH owned 0.68% of Inspire Medical Systems worth $26,036,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of Inspire Medical Systems by 57.9% in the first quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company’s stock worth $8,190,000 after buying an additional 18,857 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Inspire Medical Systems by 253.7% in the first quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $91,000 after buying an additional 411 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Inspire Medical Systems in the second quarter worth about $1,634,000. New York State Teachers Retirement System boosted its stake in shares of Inspire Medical Systems by 132.7% in the first quarter. New York State Teachers Retirement System now owns 21,390 shares of the company’s stock worth $3,407,000 after buying an additional 12,196 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its stake in shares of Inspire Medical Systems by 2,465.9% in the first quarter. Bayforest Capital Ltd now owns 5,491 shares of the company’s stock worth $875,000 after buying an additional 5,277 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Piper Sandler lowered their price target on shares of Inspire Medical Systems from $233.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, August 5th. Morgan Stanley lowered their price target on shares of Inspire Medical Systems from $200.00 to $182.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Wall Street Zen downgraded shares of Inspire Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Truist Financial lowered their price target on shares of Inspire Medical Systems from $125.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, October 15th. Finally, Zacks Research raised shares of Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $141.13.

Inspire Medical Systems Trading Down 2.8%

Shares of INSP stock opened at $73.03 on Friday. The company has a market capitalization of $2.16 billion, a P/E ratio of 42.22, a P/E/G ratio of 2.33 and a beta of 1.16. The business’s 50 day moving average is $81.23 and its two-hundred day moving average is $114.43. Inspire Medical Systems, Inc. has a 12-month low of $70.77 and a 12-month high of $216.01.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly 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 company had revenue of $217.09 million for 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%.Inspire Medical Systems’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. On average, research analysts predict 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 approved a share buyback plan on Monday, August 11th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 8.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Inspire Medical Systems

In other news, CFO Richard Buchholz sold 11,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 44,867 shares in the company, valued at $4,190,129.13. This trade represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is currently owned by company insiders.

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.