Swiss National Bank Decreases Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Swiss National Bank decreased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 2.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 58,000 shares of the company’s stock after selling 1,600 shares during the quarter. Swiss National Bank’s holdings in Inspire Medical Systems were worth $12,241,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Inspire Medical Systems by 798.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock valued at $56,530,000 after purchasing an additional 238,034 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Inspire Medical Systems by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock valued at $105,433,000 after buying an additional 192,238 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 acquiring an additional 156,893 shares during the period. AQR Capital Management LLC boosted its stake 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 worth $31,028,000 after acquiring an additional 140,090 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Inspire Medical Systems by 3,812.6% in the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock worth $29,777,000 after acquiring an additional 137,483 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Piper Sandler reiterated an “overweight” rating and set a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Stifel Nicolaus reiterated a “hold” rating and issued a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. KeyCorp dropped their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company upped their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird raised their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.58.

Inspire Medical Systems Stock Performance

INSP stock opened at $188.73 on Friday. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The company has a 50 day moving average price of $199.53 and a two-hundred day moving average price of $175.32. The stock has a market capitalization of $5.66 billion, a P/E ratio of 176.38 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly 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 analysts’ expectations of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm’s revenue was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.29) EPS. Research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction 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 directly owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 3.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is currently owned by 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.