Goldman Sachs Group Inc. Has $8.19 Million Stock Holdings in Inspire Medical Systems, Inc. $INSP

Goldman Sachs Group Inc. lifted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 57.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,422 shares of the company’s stock after buying an additional 18,857 shares during the period. Goldman Sachs Group Inc. owned about 0.17% of Inspire Medical Systems worth $8,190,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Voya Investment Management LLC boosted its stake in shares of Inspire Medical Systems by 5.3% during the 1st quarter. Voya Investment Management LLC now owns 164,936 shares of the company’s stock worth $26,271,000 after buying an additional 8,361 shares during the last quarter. Osterweis Capital Management Inc. acquired a new stake in Inspire Medical Systems in the 1st quarter valued at about $5,279,000. Intech Investment Management LLC lifted its stake in Inspire Medical Systems by 166.4% in the 1st quarter. Intech Investment Management LLC now owns 34,094 shares of the company’s stock valued at $5,430,000 after purchasing an additional 21,297 shares during the last quarter. Bayforest Capital Ltd lifted its stake in Inspire Medical Systems by 2,465.9% in the 1st quarter. Bayforest Capital Ltd now owns 5,491 shares of the company’s stock valued at $875,000 after purchasing an additional 5,277 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Inspire Medical Systems by 214.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,112,925 shares of the company’s stock valued at $177,267,000 after purchasing an additional 759,090 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 shares were sold at an average price of $93.39, for a total transaction of $1,027,290.00. Following the transaction, the chief financial officer directly owned 44,867 shares of the company’s stock, valued at approximately $4,190,129.13. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

INSP has been the subject of several recent analyst reports. UBS Group set a $230.00 target price on shares of Inspire Medical Systems and gave the company a “buy” rating in a research note on Tuesday, August 5th. Evercore ISI initiated coverage on shares of Inspire Medical Systems in a research note on Tuesday, September 2nd. They issued an “outperform” rating and a $150.00 target price for the company. Truist Financial reiterated a “hold” rating and issued a $125.00 target price (down from $190.00) on shares of Inspire Medical Systems in a research note on Tuesday, August 5th. JPMorgan Chase & Co. downgraded shares of Inspire Medical Systems from an “overweight” rating to a “neutral” rating and cut their target price for the company from $195.00 to $110.00 in a research note on Tuesday, August 5th. Finally, Wall Street Zen cut shares of Inspire Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average target price of $164.50.

Inspire Medical Systems Stock Down 3.0%

Inspire Medical Systems stock opened at $80.28 on Friday. The stock has a market cap of $2.37 billion, a P/E ratio of 46.40, a P/E/G ratio of 2.58 and a beta of 1.15. Inspire Medical Systems, Inc. has a twelve month low of $73.92 and a twelve month high of $218.52. The company’s 50-day moving average price is $104.85 and its two-hundred day moving average price is $134.49.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, August 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.22 by $0.23. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The company had revenue of $217.09 million for the quarter, compared to analysts’ expectations of $214.50 million. During the same period last year, the firm earned $0.32 earnings per share. 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. Equities analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems declared that its Board of Directors has approved a stock buyback program on Monday, August 11th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 8.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

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.