Inspire Medical Systems, Inc. (NYSE:INSP) Shares Purchased by KBC Group NV

KBC Group NV raised its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 16.9% during the third quarter, HoldingsChannel.com reports. The firm owned 870 shares of the company’s stock after buying an additional 126 shares during the quarter. KBC Group NV’s holdings in Inspire Medical Systems were worth $184,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of INSP. Price T Rowe Associates Inc. MD boosted its position in Inspire Medical Systems by 51.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock valued at $98,754,000 after purchasing an additional 156,893 shares during the period. Tidal Investments LLC purchased a new position in Inspire Medical Systems in the first quarter valued at about $1,151,000. AQR Capital Management LLC lifted its holdings in shares of Inspire Medical Systems by 152.7% during the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after buying an additional 140,090 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Inspire Medical Systems by 27.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 40,501 shares of the company’s stock worth $8,699,000 after buying an additional 8,625 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Inspire Medical Systems by 114.2% in the second quarter. SG Americas Securities LLC now owns 6,228 shares of the company’s stock worth $833,000 after buying an additional 3,321 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on INSP. Truist Financial reissued a “buy” rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. KeyCorp reduced their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Leerink Partners increased their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $233.58.

Inspire Medical Systems Stock Performance

Shares of INSP opened at $184.88 on Thursday. The firm has a market cap of $5.54 billion, a P/E ratio of 174.93 and a beta of 1.36. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The firm’s 50-day simple moving average is $200.62 and its 200 day simple moving average is $176.11.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The business had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. During the same period last year, the firm posted ($0.29) EPS. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. As a group, equities analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Insider Activity at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This represents a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

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.