nVerses Capital LLC Makes New Investment in Inspire Medical Systems, Inc. (NYSE:INSP)

nVerses Capital LLC bought a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,600 shares of the company’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Securities Inc. bought a new position in Inspire Medical Systems during the 4th quarter worth $54,000. Van ECK Associates Corp raised its stake in Inspire Medical Systems by 7.5% in the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after purchasing an additional 72 shares in the last quarter. RiverPark Advisors LLC raised its stake in Inspire Medical Systems by 360.1% in the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock valued at $166,000 after purchasing an additional 605 shares in the last quarter. CWM LLC grew its stake in Inspire Medical Systems by 101.6% during the second quarter. CWM LLC now owns 1,246 shares of the company’s stock worth $167,000 after buying an additional 628 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in Inspire Medical Systems during the second quarter worth about $172,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on INSP. KeyCorp cut their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Piper Sandler raised their target price on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Morgan Stanley decreased their price target on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Bank of America dropped their price objective on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a research report on Monday, June 3rd. Finally, Truist Financial decreased their target price on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $219.79.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.10% of the stock is owned by company insiders.

Inspire Medical Systems Stock Performance

Shares of NYSE:INSP opened at $179.82 on Monday. The firm has a market cap of $5.36 billion, a PE ratio of -326.95 and a beta of 1.31. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The firm’s fifty day moving average is $156.55 and its 200-day moving average is $180.35.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. The business had revenue of $195.89 million during the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The company’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 firm posted ($0.41) EPS. Sell-side analysts forecast that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

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.