Intech Investment Management LLC Buys 2,328 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Intech Investment Management LLC increased its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 23.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,326 shares of the company’s stock after purchasing an additional 2,328 shares during the period. Intech Investment Management LLC’s holdings in Inspire Medical Systems were worth $1,650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SouthState Corp acquired a new position in shares of Inspire Medical Systems during the 2nd quarter worth about $27,000. Daiwa Securities Group Inc. bought a new position in Inspire Medical Systems during the 2nd quarter worth approximately $53,000. RiverPark Advisors LLC grew its holdings in Inspire Medical Systems by 360.1% during 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 during the period. Van ECK Associates Corp increased 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. Finally, Moody National Bank Trust Division acquired a new stake in Inspire Medical Systems in the first quarter worth $238,000. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 1.8 %

INSP stock opened at $216.71 on Tuesday. The company’s 50-day moving average price is $178.04 and its two-hundred day moving average price is $182.08. The firm has a market cap of $6.44 billion, a P/E ratio of -394.02 and a beta of 1.33. 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 announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The business had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. During the same period last year, the firm posted ($0.41) earnings per share. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. Equities analysts predict that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on INSP shares. Robert W. Baird decreased their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus lowered their target price on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Leerink Partners raised their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Finally, Truist Financial lowered their price target on shares of Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $214.85.

Insider Transactions at Inspire Medical Systems

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