Hussman Strategic Advisors Inc. Purchases Shares of 14,700 Inspire Medical Systems, Inc. $INSP

Hussman Strategic Advisors Inc. acquired a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 14,700 shares of the company’s stock, valued at approximately $1,908,000.

A number of other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Inspire Medical Systems by 253.7% in the first quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock valued at $91,000 after acquiring an additional 411 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Inspire Medical Systems by 132.7% during the 1st quarter. New York State Teachers Retirement System now owns 21,390 shares of the company’s stock worth $3,407,000 after acquiring an additional 12,196 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Inspire Medical Systems by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 147,768 shares of the company’s stock valued at $23,536,000 after purchasing an additional 1,458 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Inspire Medical Systems by 33.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 34,151 shares of the company’s stock valued at $5,440,000 after purchasing an additional 8,484 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new stake in shares of Inspire Medical Systems in the 1st quarter valued at $329,000. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Inspire Medical Systems

In other 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 transaction of $1,027,290.00. Following the transaction, the chief financial officer directly owned 44,867 shares in the company, 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 SEC, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

INSP has been the subject of a number of analyst reports. Lake Street Capital set a $150.00 target price on shares of Inspire Medical Systems and gave the stock a “buy” rating in a research note on Tuesday, August 5th. KeyCorp downgraded Inspire Medical Systems from an “overweight” rating to a “sector weight” rating in a report on Tuesday, August 5th. UBS Group set a $89.00 target price on Inspire Medical Systems and gave the stock a “neutral” rating in a research report on Monday, September 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Inspire Medical Systems in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded Inspire Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems presently has an average rating of “Hold” and an average price target of $141.13.

Inspire Medical Systems Stock Performance

INSP opened at $73.76 on Tuesday. Inspire Medical Systems, Inc. has a one year low of $70.77 and a one year high of $216.01. The stock has a market capitalization of $2.18 billion, a P/E ratio of 42.64, a price-to-earnings-growth ratio of 2.42 and a beta of 1.14. The business’s 50-day simple moving average is $80.37 and its 200-day simple moving average is $112.89.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.49. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, equities research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Inspire Medical Systems announced that its board has approved a stock repurchase plan on Monday, August 11th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 8.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

About Inspire Medical Systems

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.