Gilliland Jeter Wealth Management LLC Has $1.52 Million Stake in Inspire Medical Systems, Inc. $INSP

Gilliland Jeter Wealth Management LLC decreased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 7.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,708 shares of the company’s stock after selling 1,000 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Inspire Medical Systems were worth $1,519,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Inspire Medical Systems by 214.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,112,925 shares of the company’s stock worth $177,267,000 after buying an additional 759,090 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Inspire Medical Systems by 8.3% during the first quarter. Invesco Ltd. now owns 858,572 shares of the company’s stock worth $136,753,000 after buying an additional 65,492 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in shares of Inspire Medical Systems by 9.8% during the first quarter. TimesSquare Capital Management LLC now owns 476,217 shares of the company’s stock worth $75,852,000 after buying an additional 42,411 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Inspire Medical Systems by 21.4% during the second quarter. Congress Asset Management Co. now owns 373,347 shares of the company’s stock worth $48,449,000 after buying an additional 65,792 shares in the last quarter. Finally, Eventide Asset Management LLC increased its holdings in shares of Inspire Medical Systems by 144.9% during the first quarter. Eventide Asset Management LLC now owns 306,301 shares of the company’s stock worth $48,785,000 after buying an additional 181,211 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on INSP shares. JPMorgan Chase & Co. lowered shares of Inspire Medical Systems from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $195.00 to $110.00 in a report on Tuesday, August 5th. Wall Street Zen cut shares of Inspire Medical Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Morgan Stanley decreased their price target on shares of Inspire Medical Systems from $200.00 to $182.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 15th. Truist Financial reissued a “hold” rating and set a $125.00 price target (down from $190.00) on shares of Inspire Medical Systems in a research note on Tuesday, August 5th. Finally, Wells Fargo & Company decreased their price target on shares of Inspire Medical Systems from $174.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 5th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $152.64.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, CFO Richard Buchholz sold 11,000 shares of the firm’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 transaction, the chief financial officer directly owned 44,867 shares of the company’s stock, valued at approximately $4,190,129.13. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of INSP stock opened at $80.21 on Friday. Inspire Medical Systems, Inc. has a 52-week low of $70.77 and a 52-week high of $216.01. The stock has a market cap of $2.37 billion, a PE ratio of 46.36, a PEG ratio of 2.45 and a beta of 1.16. The firm’s 50 day moving average price is $85.09 and its two-hundred day moving average price is $122.43.

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

Inspire Medical Systems declared that its Board of Directors has initiated a share repurchase plan on Monday, August 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 8.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Inspire Medical Systems Company 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.