Intech Investment Management LLC Has $6.82 Million Holdings in Inspire Medical Systems, Inc. $INSP

Intech Investment Management LLC raised its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 54.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,583 shares of the company’s stock after purchasing an additional 18,489 shares during the period. Intech Investment Management LLC owned 0.18% of Inspire Medical Systems worth $6,824,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in INSP. Goldman Sachs Group Inc. lifted its stake in Inspire Medical Systems by 57.9% in the first quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company’s stock valued at $8,190,000 after acquiring an additional 18,857 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at $1,634,000. Bayforest Capital Ltd boosted its holdings in 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 purchasing an additional 5,277 shares in the last quarter. KLP Kapitalforvaltning AS increased its position in Inspire Medical Systems by 10.5% during the second quarter. KLP Kapitalforvaltning AS now owns 6,300 shares of the company’s stock worth $818,000 after buying an additional 600 shares during the last quarter. Finally, Aberdeen Group plc raised its holdings in Inspire Medical Systems by 100.3% during the second quarter. Aberdeen Group plc now owns 243,102 shares of the company’s stock valued at $31,547,000 after buying an additional 121,741 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on INSP shares. Wall Street Zen downgraded Inspire Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Stifel Nicolaus set a $100.00 target price on Inspire Medical Systems in a report on Friday, October 24th. Mizuho set a $110.00 target price on Inspire Medical Systems in a research report on Tuesday, November 4th. KeyCorp reiterated a “sector weight” rating on shares of Inspire Medical Systems in a report on Tuesday, November 4th. Finally, Lake Street Capital set a $150.00 price objective on shares of Inspire Medical Systems and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $133.88.

Inspire Medical Systems Stock Down 0.4%

INSP opened at $86.47 on Monday. The firm has a market capitalization of $2.51 billion, a P/E ratio of 58.83, a price-to-earnings-growth ratio of 9.36 and a beta of 1.14. The stock’s 50 day moving average price is $79.52 and its two-hundred day moving average price is $108.59. 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, November 3rd. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.53. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The company had revenue of $224.50 million during the quarter, compared to analyst estimates of $220.39 million. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

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

Insider Buying and Selling

In related news, CFO Richard Buchholz sold 11,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 44,867 shares in the company, valued at $4,190,129.13. This represents a 19.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by insiders.

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.