Intech Investment Management LLC Takes Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Intech Investment Management LLC bought a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,998 shares of the company’s stock, valued at approximately $2,147,000.

Several other large investors have also recently bought and sold shares of INSP. McGlone Suttner Wealth Management Inc. acquired a new stake in Inspire Medical Systems in the 4th quarter worth about $27,000. Principal Securities Inc. bought a new position in Inspire Medical Systems in the 4th quarter valued at about $54,000. RiverPark Advisors LLC raised its position in shares of Inspire Medical Systems by 360.1% in the 1st quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock valued at $166,000 after buying an additional 605 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Inspire Medical Systems during the 4th quarter worth approximately $166,000. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Inspire Medical Systems during the 4th quarter worth approximately $201,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Up 4.3 %

Shares of NYSE INSP traded up $5.92 during trading on Friday, reaching $143.74. The company had a trading volume of 359,567 shares, compared to its average volume of 692,945. Inspire Medical Systems, Inc. has a 12 month low of $123.27 and a 12 month high of $323.09. The stock has a market cap of $4.27 billion, a P/E ratio of -261.35 and a beta of 1.31. The company’s fifty day moving average price is $150.48 and its 200-day moving average price is $186.54.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.29. The business had revenue of $164.01 million for the quarter, compared to analysts’ expectations of $161.41 million. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The firm’s revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.53) earnings per share. As a group, equities analysts predict that Inspire Medical Systems, Inc. will post 0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Piper Sandler boosted their price objective on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Stifel Nicolaus decreased their target price on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Royal Bank of Canada initiated coverage on Inspire Medical Systems in a research note on Friday, April 19th. They set an “outperform” rating and a $285.00 target price for the company. Truist Financial reduced their price target on shares of Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Finally, Mizuho reiterated a “buy” rating and set a $250.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.29.

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.