Corient Private Wealth LP purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 57,530 shares of the company’s stock, valued at approximately $2,567,000.
Several other hedge funds have also recently bought and sold shares of INSP. BlackRock Inc. acquired a new position in shares of Inspire Medical Systems in the second quarter valued at approximately $211,341,000. Wellington Management Group LLP bought a new position in shares of Inspire Medical Systems during the fourth quarter worth approximately $203,929,000. Wasatch Advisors LP lifted its holdings in Inspire Medical Systems by 7.2% during the 2nd quarter. Wasatch Advisors LP now owns 1,634,395 shares of the company’s stock worth $212,095,000 after purchasing an additional 110,288 shares during the last quarter. Morgan Stanley lifted its holdings in Inspire Medical Systems by 179.5% during the 4th quarter. Morgan Stanley now owns 1,259,762 shares of the company’s stock worth $116,188,000 after purchasing an additional 809,121 shares during the last quarter. Finally, Deerfield Management Company L.P. boosted its stake in Inspire Medical Systems by 648.4% in the 3rd quarter. Deerfield Management Company L.P. now owns 1,047,694 shares of the company’s stock valued at $77,739,000 after purchasing an additional 907,694 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, insider Jason P. Kelly sold 963 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $59.55, for a total transaction of $57,346.65. Following the sale, the insider directly owned 18,985 shares of the company’s stock, valued at approximately $1,130,556.75. The trade was a 4.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.20% of the company’s stock.
Inspire Medical Systems Stock Up 2.7%
Inspire Medical Systems (NYSE:INSP – Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.38. The firm had revenue of $200.58 million during the quarter, compared to the consensus estimate of $194.72 million. Inspire Medical Systems had a return on equity of 8.64% and a net margin of 15.03%.The business’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Inspire Medical Systems has set its FY 2026 guidance at 1.050-1.450 EPS. On average, analysts anticipate that Inspire Medical Systems, Inc. will post 1.24 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have commented on INSP. KeyCorp reaffirmed a “sector weight” rating on shares of Inspire Medical Systems in a report on Tuesday, August 4th. Oppenheimer raised Inspire Medical Systems from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a report on Tuesday, August 4th. Weiss Ratings raised shares of Inspire Medical Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Bank of America downgraded shares of Inspire Medical Systems from a “neutral” rating to an “underperform” rating and set a $39.00 price target on the stock. in a research note on Friday, May 22nd. Finally, Truist Financial reaffirmed a “hold” rating and set a $62.00 price target (up from $54.00) on shares of Inspire Medical Systems in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $66.19.
Read Our Latest Analysis on Inspire Medical Systems
Inspire Medical Systems Company Profile
Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.
The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.
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