Summit Global Investments Makes New Investment in Inspire Medical Systems, Inc. (NYSE:INSP)

Summit Global Investments bought a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) in the third quarter, HoldingsChannel reports. The fund bought 4,472 shares of the company’s stock, valued at approximately $944,000.

A number of other large investors have also modified their holdings of the stock. Farther Finance Advisors LLC boosted its holdings in Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after acquiring an additional 139 shares during the period. GAMMA Investing LLC boosted its stake in shares of Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 151 shares during the period. SouthState Corp acquired a new stake in Inspire Medical Systems during the 2nd quarter valued at $27,000. Signaturefd LLC increased its stake in Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after buying an additional 85 shares during the period. Finally, Quarry LP lifted its holdings in Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after buying an additional 176 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Down 1.9 %

Shares of NYSE:INSP opened at $196.62 on Friday. The company has a market cap of $5.89 billion, a PE ratio of 183.76 and a beta of 1.36. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The firm has a 50-day simple moving average of $202.62 and a 200 day simple moving average of $179.89.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on INSP shares. Leerink Partners raised their target price on 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. Morgan Stanley dropped their price objective on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Robert W. Baird increased their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Stifel Nicolaus reissued a “hold” rating and set a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Truist Financial reaffirmed 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. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $227.75.

Insider Buying and Selling

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Shawn Mccormick sold 800 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock worth $1,099,207 in the last three months. 4.10% of the stock is owned by insiders.

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.