Neo Ivy Capital Management Increases Stake in Inspire Medical Systems, Inc. $INSP

Neo Ivy Capital Management raised its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 67,675.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,688 shares of the company’s stock after acquiring an additional 21,656 shares during the quarter. Neo Ivy Capital Management’s holdings in Inspire Medical Systems were worth $1,609,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of INSP. Manning & Napier Advisors LLC acquired a new stake in shares of Inspire Medical Systems during the 3rd quarter worth approximately $32,000. Daiwa Securities Group Inc. increased its holdings in shares of Inspire Medical Systems by 38.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock valued at $60,000 after purchasing an additional 130 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Inspire Medical Systems in the 3rd quarter valued at $49,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Inspire Medical Systems in the 3rd quarter valued at $72,000. Finally, FORA Capital LLC purchased a new stake in Inspire Medical Systems during the second quarter worth $220,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wolfe Research lowered shares of Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a research report on Friday, February 13th. Oppenheimer lowered shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 22nd. Piper Sandler dropped their target price on Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Evercore restated an “outperform” rating on shares of Inspire Medical Systems in a research note on Friday, February 27th. Finally, Morgan Stanley set a $60.00 price target on Inspire Medical Systems in a report on Wednesday, February 18th. Five equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $104.24.

Inspire Medical Systems Stock Up 0.9%

INSP stock opened at $63.01 on Friday. Inspire Medical Systems, Inc. has a 52 week low of $53.11 and a 52 week high of $189.49. The firm has a 50-day simple moving average of $77.16 and a 200-day simple moving average of $87.20. The stock has a market capitalization of $1.80 billion, a P/E ratio of 12.65, a P/E/G ratio of 3.06 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.96. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The firm had revenue of $269.08 million for the quarter, compared to analyst estimates of $264.02 million. During the same period last year, the company posted $1.15 EPS. Inspire Medical Systems’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current 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.