Palo Alto Investors LP Takes $391,319 Position in Inspire Medical Systems, Inc. $INSP

Palo Alto Investors LP purchased a new position in Inspire Medical Systems, Inc. (NYSE:INSP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,772 shares of the company’s stock, valued at approximately $391,319.

Other institutional investors have also bought and sold shares of the company. Alberta Investment Management Corp acquired a new stake in shares of Inspire Medical Systems in the 2nd quarter worth approximately $5,483,000. Assenagon Asset Management S.A. raised its stake in shares of Inspire Medical Systems by 66.2% during the second quarter. Assenagon Asset Management S.A. now owns 864,395 shares of the company’s stock worth $38,561,000 after buying an additional 344,221 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Inspire Medical Systems by 49.8% in the 1st quarter. Bank of Nova Scotia now owns 60,000 shares of the company’s stock valued at $3,095,000 after buying an additional 19,958 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Inspire Medical Systems during the 2nd quarter worth $820,000. Finally, Empowered Funds LLC bought a new stake in Inspire Medical Systems during the 1st quarter worth approximately $1,799,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Insider Transactions at Inspire Medical Systems

In other news, insider Jason P. Kelly sold 963 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $59.55, for a total value of $57,346.65. Following the transaction, the insider owned 18,985 shares of the company’s stock, valued at $1,130,556.75. This trade represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INSP shares. Evercore set a $54.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, August 4th. Piper Sandler raised their price target on shares of Inspire Medical Systems from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Wells Fargo & Company lowered their price objective on shares of Inspire Medical Systems from $70.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings raised Inspire Medical Systems from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Finally, Summit Redstone set a $39.00 price objective on shares of Inspire Medical Systems in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems has an average rating of “Hold” and an average price target of $66.19.

Inspire Medical Systems Stock Up 1.1%

Shares of Inspire Medical Systems stock traded up $0.67 during trading on Friday, reaching $61.49. The company’s stock had a trading volume of 517,994 shares, compared to its average volume of 1,104,164. The business has a 50 day moving average price of $52.73 and a 200-day moving average price of $52.44. The company has a market capitalization of $1.78 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 4.70 and a beta of 0.70. Inspire Medical Systems, Inc. has a 12-month low of $38.91 and a 12-month high of $147.03.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.38. Inspire Medical Systems had a return on equity of 8.64% and a net margin of 15.03%.The firm had revenue of $200.58 million during the quarter, compared to analysts’ expectations of $194.72 million. During the same quarter last year, the firm earned $0.45 earnings per share. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. Inspire Medical Systems has set its FY 2026 guidance at 1.050-1.450 EPS. Research analysts predict that Inspire Medical Systems, Inc. will post 1.24 EPS for the current fiscal year.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.