Fifth Third Bancorp Boosts Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Fifth Third Bancorp lifted its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 19.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,623 shares of the company’s stock after buying an additional 268 shares during the quarter. Fifth Third Bancorp’s holdings in Inspire Medical Systems were worth $301,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Riverbridge Partners LLC purchased a new position in shares of Inspire Medical Systems during the fourth quarter worth about $26,342,000. Janney Montgomery Scott LLC grew its stake in Inspire Medical Systems by 248.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company’s stock worth $891,000 after buying an additional 3,427 shares during the last quarter. SG Americas Securities LLC grew its stake in Inspire Medical Systems by 33.8% during the 4th quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock worth $655,000 after buying an additional 892 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Inspire Medical Systems by 37.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock worth $68,000 after buying an additional 100 shares during the period. Finally, Merit Financial Group LLC purchased a new stake in Inspire Medical Systems in the fourth quarter valued at approximately $313,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Trading Down 0.4 %

Shares of NYSE:INSP opened at $193.90 on Friday. The firm’s 50 day moving average is $190.11 and its two-hundred day moving average is $187.98. The firm has a market capitalization of $5.81 billion, a P/E ratio of 181.22 and a beta of 1.32. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same quarter last year, the business earned ($0.29) earnings per share. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. Analysts predict that Inspire Medical Systems, Inc. will post 1.35 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Robert W. Baird increased their price target 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. Wells Fargo & Company increased their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Piper Sandler reaffirmed an “overweight” rating and set a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, KeyCorp reiterated an “overweight” rating and issued a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.45.

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.