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

Intech Investment Management LLC increased its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 15.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,220 shares of the company’s stock after buying an additional 1,894 shares during the period. Intech Investment Management LLC’s holdings in Inspire Medical Systems were worth $3,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Inspire Medical Systems by 798.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock valued at $56,530,000 after acquiring an additional 238,034 shares during the period. Bank of New York Mellon Corp raised its holdings in Inspire Medical Systems by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after purchasing an additional 192,238 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Inspire Medical Systems by 51.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after purchasing an additional 156,893 shares in the last quarter. AQR Capital Management LLC grew its holdings in Inspire Medical Systems by 152.7% in the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after purchasing an additional 140,090 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after buying an additional 137,483 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on INSP. Bank of America upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $220.00 to $255.00 in a research report on Wednesday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. KeyCorp dropped their price objective on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Wells Fargo & Company upped their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Truist Financial reissued a “buy” rating and set a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.58.

Inspire Medical Systems Trading Up 1.4 %

Inspire Medical Systems stock opened at $188.73 on Friday. The stock has a fifty day moving average price of $199.53 and a 200 day moving average price of $175.32. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The firm 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 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 company had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same quarter in the prior year, the company posted ($0.29) EPS. The company’s quarterly revenue was up 32.6% compared to the same quarter last year. As a group, equities analysts predict that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction on Monday, September 9th. The stock was 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 in the company, valued at $5,090,800. This represents a 3.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.10% of the stock is currently owned by insiders.

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.