Bamco Inc. NY Sells 1,000 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Bamco Inc. NY trimmed its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 210,000 shares of the company’s stock after selling 1,000 shares during the quarter. Bamco Inc. NY’s holdings in Inspire Medical Systems were worth $45,106,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in INSP. Massmutual Trust Co. FSB ADV increased its position in Inspire Medical Systems by 176,312.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 14,113 shares of the company’s stock valued at $3,031,000 after acquiring an additional 14,105 shares during the last quarter. Bullseye Asset Management LLC increased its position in Inspire Medical Systems by 119.6% during the fourth quarter. Bullseye Asset Management LLC now owns 27,199 shares of the company’s stock valued at $5,534,000 after acquiring an additional 14,812 shares during the last quarter. Private Ocean LLC purchased a new stake in Inspire Medical Systems during the first quarter valued at $2,738,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Inspire Medical Systems during the fourth quarter valued at $1,271,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in Inspire Medical Systems during the fourth quarter valued at $3,369,000. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Stock Performance

INSP traded down $9.26 during trading on Friday, hitting $125.79. 956,555 shares of the stock were exchanged, compared to its average volume of 425,876. The firm has a 50 day simple moving average of $148.29 and a 200 day simple moving average of $185.01. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -228.71 and a beta of 1.31. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $293.63.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Piper Sandler upped their price target on Inspire Medical Systems from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Truist Financial lowered their price objective on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Royal Bank of Canada assumed coverage on Inspire Medical Systems in a research note on Friday, April 19th. They issued an “outperform” rating and a $285.00 price objective for the company. Bank of America lowered their price objective on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a research note on Monday, June 3rd. Finally, Morgan Stanley decreased their price target on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.29.

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.