Crossmark Global Holdings Inc. Raises Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Crossmark Global Holdings Inc. raised its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 38.2% in the third quarter, Holdings Channel reports. The institutional investor owned 2,422 shares of the company’s stock after buying an additional 670 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Inspire Medical Systems were worth $511,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INSP. Van ECK Associates Corp raised its position in shares of Inspire Medical Systems by 7.5% in the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock worth $138,000 after buying an additional 72 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Inspire Medical Systems by 4.1% in the 2nd quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock valued at $268,000 after acquiring an additional 79 shares in the last quarter. Signaturefd LLC boosted its position in shares of Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock valued at $57,000 after acquiring an additional 85 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Inspire Medical Systems by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock worth $2,836,000 after purchasing an additional 92 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Inspire Medical Systems by 1.2% in the first quarter. Bessemer Group Inc. now owns 8,475 shares of the company’s stock worth $1,820,000 after purchasing an additional 100 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Stock Down 0.1 %

Shares of NYSE INSP opened at $172.70 on Friday. The firm’s fifty day moving average is $202.07 and its 200 day moving average is $178.08. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 161.40 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. The firm had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.29) earnings per share. Equities research analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on INSP. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and issued a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Wells Fargo & Company raised their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Leerink Partners upped their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $227.75.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. This represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is currently owned by corporate 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.