7,094 Shares in Inspire Medical Systems, Inc. $INSP Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Inspire Medical Systems, Inc. (NYSE:INSP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,094 shares of the company’s stock, valued at approximately $921,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Inspire Medical Systems by 253.7% during the first quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $91,000 after purchasing an additional 411 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Inspire Medical Systems by 16.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 15,206 shares of the company’s stock valued at $2,422,000 after purchasing an additional 2,179 shares during the last quarter. Bessemer Group Inc. grew its stake in Inspire Medical Systems by 1.7% in the 1st quarter. Bessemer Group Inc. now owns 7,183 shares of the company’s stock worth $1,145,000 after buying an additional 123 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Inspire Medical Systems in the 1st quarter worth $766,000. Finally, New York State Teachers Retirement System raised its position in shares of Inspire Medical Systems by 132.7% during the 1st quarter. New York State Teachers Retirement System now owns 21,390 shares of the company’s stock valued at $3,407,000 after buying an additional 12,196 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Down 1.8%

Inspire Medical Systems stock opened at $80.11 on Friday. The company has a market capitalization of $2.37 billion, a PE ratio of 46.31, a P/E/G ratio of 2.54 and a beta of 1.16. The firm has a fifty day simple moving average of $82.64 and a two-hundred day simple moving average of $117.10. Inspire Medical Systems, Inc. has a twelve month low of $70.77 and a twelve month high of $216.01.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.23. The business had revenue of $217.09 million during the quarter, compared to the consensus estimate of $214.50 million. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. As a group, equities analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems announced that its board has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

INSP has been the subject of several research reports. Stifel Nicolaus set a $140.00 target price on shares of Inspire Medical Systems and gave the stock a “hold” rating in a research report on Tuesday, August 5th. KeyCorp lowered shares of Inspire Medical Systems from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, August 5th. Piper Sandler cut their target price on shares of Inspire Medical Systems from $233.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Inspire Medical Systems in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered shares of Inspire Medical Systems from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $195.00 to $110.00 in a research report on Tuesday, August 5th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $148.00.

Insiders Place Their Bets

In other Inspire Medical Systems news, CFO Richard Buchholz sold 11,000 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $93.39, for a total value of $1,027,290.00. Following the completion of the sale, the chief financial officer directly owned 44,867 shares of the company’s stock, valued at $4,190,129.13. The trade was a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.10% of the stock is owned by corporate 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.