Entropy Technologies LP Invests $363,000 in Inspire Medical Systems, Inc. $INSP

Entropy Technologies LP acquired a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,800 shares of the company’s stock, valued at approximately $363,000.

Several other institutional investors have also bought and sold shares of INSP. Farther Finance Advisors LLC grew its position in Inspire Medical Systems by 14.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 603 shares of the company’s stock valued at $78,000 after buying an additional 77 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Inspire Medical Systems by 1.6% in the 1st quarter. Allianz Asset Management GmbH now owns 5,000 shares of the company’s stock worth $796,000 after acquiring an additional 78 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Inspire Medical Systems by 27.2% in the first quarter. Smartleaf Asset Management LLC now owns 454 shares of the company’s stock valued at $71,000 after acquiring an additional 97 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Inspire Medical Systems by 0.5% during the second quarter. New York State Teachers Retirement System now owns 21,490 shares of the company’s stock valued at $2,789,000 after acquiring an additional 100 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Inspire Medical Systems by 4.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,419 shares of the company’s stock worth $385,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $85.00 price target (down from $160.00) on shares of Inspire Medical Systems in a research note on Friday, October 24th. JPMorgan Chase & Co. decreased their target price on Inspire Medical Systems from $110.00 to $82.00 and set a “neutral” rating for the company in a research note on Tuesday, November 4th. KeyCorp reiterated a “sector weight” rating on shares of Inspire Medical Systems in a research report on Tuesday, November 4th. Lake Street Capital set a $150.00 price target on shares of Inspire Medical Systems and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, Piper Sandler restated an “overweight” rating and set a $135.00 price objective (down previously from $150.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 4th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $132.56.

Insider Activity

In related news, CFO Richard Buchholz sold 11,000 shares of the company’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 value of $1,027,290.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by corporate insiders.

Inspire Medical Systems Stock Up 11.1%

Shares of Inspire Medical Systems stock opened at $130.28 on Wednesday. Inspire Medical Systems, Inc. has a 12-month low of $70.77 and a 12-month high of $216.01. The firm has a market capitalization of $3.79 billion, a PE ratio of 88.63, a price-to-earnings-growth ratio of 12.71 and a beta of 1.14. The stock’s fifty day moving average is $81.61 and its 200-day moving average is $105.57.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.38 earnings per share 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 firm had revenue of $224.50 million for the quarter, compared to analysts’ expectations of $220.39 million. During the same quarter last year, the business posted $0.60 EPS. Inspire Medical Systems’s revenue was up 10.5% on a year-over-year basis. Analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Inspire Medical Systems announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 11th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 8.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership 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.