Renaissance Technologies LLC Increases Stake in Inspire Medical Systems, Inc. $INSP

Renaissance Technologies LLC boosted its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 14.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 469,968 shares of the company’s stock after buying an additional 59,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Inspire Medical Systems were worth $24,241,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of INSP. SG Americas Securities LLC lifted its stake in shares of Inspire Medical Systems by 395.9% in the 4th quarter. SG Americas Securities LLC now owns 38,449 shares of the company’s stock valued at $3,546,000 after purchasing an additional 30,695 shares during the period. Rheos Capital Works Inc. raised its holdings in Inspire Medical Systems by 124.0% in the fourth quarter. Rheos Capital Works Inc. now owns 117,400 shares of the company’s stock worth $10,828,000 after purchasing an additional 65,000 shares in the last quarter. Banque Pictet & Cie SA raised its holdings in Inspire Medical Systems by 797.5% in the fourth quarter. Banque Pictet & Cie SA now owns 24,474 shares of the company’s stock worth $2,257,000 after purchasing an additional 21,747 shares in the last quarter. Aberdeen Group plc lifted its position in Inspire Medical Systems by 16.3% during the fourth quarter. Aberdeen Group plc now owns 460,901 shares of the company’s stock valued at $42,509,000 after buying an additional 64,561 shares during the period. Finally, Bank of Nova Scotia lifted its position in Inspire Medical Systems by 49.8% during the first 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 period. 94.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on INSP shares. Truist Financial upped their target price on shares of Inspire Medical Systems from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Oppenheimer reissued a “market perform” rating on shares of Inspire Medical Systems in a research note on Monday, June 15th. Bank of America cut shares of Inspire Medical Systems from a “neutral” rating to an “underperform” rating and set a $39.00 price objective on the stock. in a report on Friday, May 22nd. Piper Sandler downgraded shares of Inspire Medical Systems from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $55.00 in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada lowered shares of Inspire Medical Systems from a “sector perform” rating to a “buy” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Inspire Medical Systems has a consensus rating of “Hold” and a consensus price target of $73.28.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $50.94 on Thursday. The stock has a 50-day moving average of $45.75 and a 200 day moving average of $56.12. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 5.26 and a beta of 0.71. Inspire Medical Systems, Inc. has a one year low of $38.91 and a one year high of $147.03.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, May 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.38. Inspire Medical Systems had a net margin of 14.33% and a return on equity of 10.35%. The firm had revenue of $204.58 million during the quarter, compared to analysts’ expectations of $200.04 million. During the same period in the previous year, the company earned $0.10 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Inspire Medical Systems has set its FY 2026 guidance at 0.750-1.250 EPS. On average, equities analysts predict that Inspire Medical Systems, Inc. will post 0.93 earnings per share for the current fiscal year.

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.