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

Palo Alto Investors LP purchased a new position in Inspire Medical Systems, Inc. (NYSE:INSP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,772 shares of the company’s stock, valued at approximately $391,319,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its position in Inspire Medical Systems by 16.0% during the first quarter. Royal Bank of Canada now owns 32,769 shares of the company’s stock worth $5,220,000 after buying an additional 4,528 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Inspire Medical Systems in the 1st quarter valued at about $524,000. Goldman Sachs Group Inc. raised its holdings in shares of Inspire Medical Systems by 57.9% in the 1st 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 in the last quarter. Marshall Wace LLP boosted its position in shares of Inspire Medical Systems by 3.8% during the 2nd quarter. Marshall Wace LLP now owns 15,905 shares of the company’s stock valued at $2,064,000 after acquiring an additional 577 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Inspire Medical Systems during the 2nd quarter valued at about $931,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial restated a “hold” rating and issued a $62.00 price objective (up from $54.00) on shares of Inspire Medical Systems in a research report on Tuesday, August 4th. Evercore set a $54.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, August 4th. Summit Redstone set a $39.00 target price on shares of Inspire Medical Systems in a research report on Friday, May 22nd. Robert W. Baird boosted their price target on shares of Inspire Medical Systems from $54.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Finally, Oppenheimer raised shares of Inspire Medical Systems from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $66.19.

Inspire Medical Systems Price Performance

Shares of INSP opened at $60.84 on Friday. The firm has a market cap of $1.76 billion, a P/E ratio of 13.17, a P/E/G ratio of 4.70 and a beta of 0.70. Inspire Medical Systems, Inc. has a 1 year low of $38.91 and a 1 year high of $147.03. The stock has a 50 day simple moving average of $52.73 and a two-hundred day simple moving average of $52.44.

Inspire Medical Systems (NYSE:INSP) last announced 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 net margin of 15.03% and a return on equity of 8.64%. The company had revenue of $200.58 million during the quarter, compared to analysts’ expectations of $194.72 million. During the same quarter in the prior year, the company earned $0.45 EPS. The firm’s revenue 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. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post 1.24 earnings per share for the current year.

Insiders Place Their Bets

In other Inspire Medical Systems news, insider Jason P. Kelly sold 963 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $59.55, for a total value of $57,346.65. Following the completion of the sale, the insider directly owned 18,985 shares of the company’s stock, valued at $1,130,556.75. The trade was a 4.83% 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. 2.20% of the stock is owned by corporate insiders.

Inspire Medical Systems Profile

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.