Oak Ridge Investments LLC Purchases 263 Shares of Inspire Medical Systems, Inc. $INSP

Oak Ridge Investments LLC grew its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,353 shares of the company’s stock after purchasing an additional 263 shares during the period. Oak Ridge Investments LLC owned about 0.09% of Inspire Medical Systems worth $3,420,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in INSP. GAMMA Investing LLC increased its holdings 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 period. SG Americas Securities LLC increased its holdings in shares of Inspire Medical Systems by 14.7% in the first quarter. SG Americas Securities LLC now owns 4,055 shares of the company’s stock worth $646,000 after buying an additional 521 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Inspire Medical Systems by 19.0% in the first quarter. Handelsbanken Fonder AB now owns 10,000 shares of the company’s stock worth $1,593,000 after buying an additional 1,600 shares during the period. Fifth Third Bancorp increased its holdings in shares of Inspire Medical Systems by 66.2% in the first quarter. Fifth Third Bancorp now owns 2,698 shares of the company’s stock worth $430,000 after buying an additional 1,075 shares during the period. Finally, Azzad Asset Management Inc. ADV purchased a new position in shares of Inspire Medical Systems in the first quarter worth about $1,748,000. Institutional investors own 94.91% of the company’s stock.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, CFO Richard Buchholz sold 11,000 shares of the company’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 transaction of $1,027,290.00. Following the transaction, the chief financial officer owned 44,867 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $75.23 on Friday. Inspire Medical Systems, Inc. has a 1 year low of $70.77 and a 1 year high of $216.01. The company has a market cap of $2.22 billion, a PE ratio of 43.49, a P/E/G ratio of 2.34 and a beta of 1.16. The stock’s 50-day moving average is $84.07 and its 200 day moving average is $121.52.

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, topping 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 firm had revenue of $217.09 million for the quarter, compared to the consensus estimate of $214.50 million. During the same quarter in the prior year, the business earned $0.32 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. Analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

INSP has been the topic of several analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $150.00 price objective on shares of Inspire Medical Systems in a report on Friday. Weiss Ratings reiterated a “sell (d)” rating on shares of Inspire Medical Systems in a report on Wednesday. Truist Financial restated a “hold” rating and set a $125.00 price target (down previously from $190.00) on shares of Inspire Medical Systems in a report on Tuesday, August 5th. Piper Sandler reduced their price target on Inspire Medical Systems from $233.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, August 5th. Finally, KeyCorp downgraded Inspire Medical Systems from an “overweight” rating to a “sector weight” rating in a report on Tuesday, August 5th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $150.50.

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.