Hodges Capital Management Inc. Acquires Shares of 3,000 Inspire Medical Systems, Inc. (NYSE:INSP)

Hodges Capital Management Inc. acquired a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,000 shares of the company’s stock, valued at approximately $633,000.

Other large investors also recently bought and sold shares of the company. SouthState Corp acquired a new stake in Inspire Medical Systems in the second quarter valued at approximately $27,000. True Wealth Design LLC acquired a new stake in Inspire Medical Systems in the third quarter valued at approximately $30,000. Farther Finance Advisors LLC grew its position in Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after acquiring an additional 139 shares in the last quarter. GAMMA Investing LLC grew its position in 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 acquiring an additional 151 shares in the last quarter. Finally, Quarry LP grew its position in Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after acquiring an additional 176 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of INSP opened at $193.03 on Monday. The business’s fifty day moving average price is $196.36 and its 200 day moving average price is $177.71. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The stock has a market capitalization of $5.79 billion, a PE ratio of 180.40 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. During the same period last year, the business posted ($0.29) earnings per share. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on INSP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. 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. Leerink Partners increased 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. 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 note on Tuesday, November 5th. Finally, Truist Financial reiterated a “buy” rating and set a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $233.58.

Inspire Medical Systems 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.