Key Points
- Director Shawn McCormick sold 2,000 shares on November 28 at an average price of $127.48 for proceeds of $254,960, trimming his stake by 7.13% to 26,046 shares (≈$3.32M).
- Company beat recent quarter expectations—EPS $0.38 vs. ($0.15) expected and revenue $224.5M (up 10.5% YoY)—and the board approved a $200 million share buyback (up to ~8.6% of shares outstanding).
- Analyst sentiment is mixed: consensus is a "Moderate Buy" with a $134.88 target, though several firms have recently cut price targets; INSP has a market cap of $3.69B and a 52-week range of $70.77–$216.01.
Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) Director Shawn Mccormick sold 2,000 shares of the firm's stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total transaction of $254,960.00. Following the transaction, the director owned 26,046 shares of the company's stock, valued at approximately $3,320,344.08. This represents a 7.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Inspire Medical Systems Price Performance
Shares of INSP stock opened at $126.88 on Tuesday. The stock's fifty day simple moving average is $85.31 and its 200 day simple moving average is $104.77. Inspire Medical Systems, Inc. has a one year low of $70.77 and a one year high of $216.01. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 86.31, a P/E/G ratio of 13.48 and a beta of 0.69.
Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $220.39 million. During the same period last year, the business earned $0.60 earnings per share. The business's revenue was up 10.5% on a year-over-year basis. On average, research 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 approved a share buyback plan on Monday, August 11th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 8.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Institutional Investors Weigh In On Inspire Medical Systems
Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP raised its position in shares of Inspire Medical Systems by 2,127.3% during the first quarter. Quarry LP now owns 245 shares of the company's stock worth $39,000 after acquiring an additional 234 shares during the last quarter. Banque Transatlantique SA bought a new position in Inspire Medical Systems in the first quarter valued at about $46,000. Manning & Napier Advisors LLC acquired a new stake in Inspire Medical Systems in the third quarter worth about $32,000. Smartleaf Asset Management LLC raised its holdings in Inspire Medical Systems by 27.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 454 shares of the company's stock worth $71,000 after purchasing an additional 97 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Inspire Medical Systems by 38.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company's stock worth $60,000 after purchasing an additional 130 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
INSP has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Inspire Medical Systems from $110.00 to $82.00 and set a "neutral" rating for the company in a report on Tuesday, November 4th. KeyCorp restated a "sector weight" rating on shares of Inspire Medical Systems in a research report on Tuesday, November 4th. Jefferies Financial Group reiterated a "hold" rating and issued a $85.00 price objective (down previously from $160.00) on shares of Inspire Medical Systems in a research report on Friday, October 24th. Weiss Ratings restated a "sell (d)" rating on shares of Inspire Medical Systems in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada lowered their target price on Inspire Medical Systems from $150.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, November 4th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $134.88.
Get Our Latest Stock Analysis on Inspire Medical Systems
About Inspire Medical Systems
(
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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.
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