Inspire Medical Systems, Inc. (NYSE:INSP) Shares Bought by Amalgamated Bank

Amalgamated Bank lifted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 4.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,005 shares of the company’s stock after buying an additional 79 shares during the period. Amalgamated Bank’s holdings in Inspire Medical Systems were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in INSP. Sofinnova Investments Inc. increased its stake in Inspire Medical Systems by 23.5% during the second quarter. Sofinnova Investments Inc. now owns 10,000 shares of the company’s stock worth $1,338,000 after acquiring an additional 1,901 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Inspire Medical Systems by 79.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 109,560 shares of the company’s stock worth $14,663,000 after purchasing an additional 48,590 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Inspire Medical Systems in the 2nd quarter valued at about $1,084,000. Oppenheimer Asset Management Inc. raised its holdings in Inspire Medical Systems by 26.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,768 shares of the company’s stock valued at $1,441,000 after buying an additional 2,242 shares during the period. Finally, William Blair Investment Management LLC lifted its position in Inspire Medical Systems by 1.8% in the second quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock valued at $103,104,000 after buying an additional 13,602 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Trading Up 4.2 %

Shares of NYSE:INSP opened at $211.05 on Tuesday. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The company’s 50 day moving average is $184.45 and its two-hundred day moving average is $182.54. The company has a market cap of $6.27 billion, a PE ratio of -383.73 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of ($0.14) by $0.46. The firm had revenue of $195.89 million for the quarter, compared to analyst estimates of $189.08 million. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. Inspire Medical Systems’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.41) earnings per share. As a group, equities research analysts expect that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on INSP shares. KeyCorp reduced their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Bank of America cut their target price on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Morgan Stanley cut their price objective on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Robert W. Baird decreased their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $216.62.

Insider Buying and Selling

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares in the company, valued at $5,090,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock worth $1,099,207 over the last 90 days. 4.10% of the stock is owned by insiders.

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.