Charles Schwab Investment Management Inc. Has $59.34 Million Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 4.4% during the third quarter, HoldingsChannel reports. The fund owned 281,165 shares of the company’s stock after purchasing an additional 11,939 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Inspire Medical Systems were worth $59,340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of 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 acquiring an additional 192,238 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Inspire Medical Systems by 1.8% during the 2nd quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock worth $103,104,000 after purchasing an additional 13,602 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Inspire Medical Systems by 798.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after purchasing an additional 238,034 shares during the period. AQR Capital Management LLC boosted its stake in shares of Inspire Medical Systems by 152.7% in the 2nd 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, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Inspire Medical Systems by 80.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 146,244 shares of the company’s stock worth $30,865,000 after buying an additional 65,147 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on INSP shares. Piper Sandler restated an “overweight” rating and issued a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Robert W. Baird upped their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Truist Financial reaffirmed a “buy” rating and set a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Leerink Partners boosted their price target 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. Finally, KeyCorp reduced 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 report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus price target of $233.58.

Inspire Medical Systems Stock Down 0.7 %

Shares of INSP opened at $192.67 on Friday. The stock has a market cap of $5.77 billion, a P/E ratio of 180.07 and a beta of 1.36. The business’s fifty day moving average is $197.96 and its 200 day moving average is $176.21. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued 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. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The firm had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. During the same period last year, the company earned ($0.29) earnings per share. The business’s revenue was up 32.6% on a year-over-year basis. On average, analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Insiders Place Their Bets

In related news, 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 transaction of $176,000.00. Following the transaction, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.10% of the company’s stock.

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.