Inspire Medical Systems, Inc. (NYSE:INSP) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 3,812.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,089 shares of the company’s stock after buying an additional 137,483 shares during the quarter. Principal Financial Group Inc.’s holdings in Inspire Medical Systems were worth $29,777,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. State Street Corp increased its holdings in Inspire Medical Systems by 78.0% in the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after acquiring an additional 459,990 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Inspire Medical Systems by 954.4% in the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock valued at $67,402,000 after purchasing an additional 289,075 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Inspire Medical Systems by 798.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock valued at $56,530,000 after purchasing an additional 238,034 shares during the period. Bank of New York Mellon Corp increased its stake 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 purchasing an additional 192,238 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Inspire Medical Systems by 152.7% during the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock worth $31,028,000 after purchasing an additional 140,090 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Performance

INSP opened at $186.29 on Wednesday. The business’s 50 day moving average price is $191.90 and its 200 day moving average price is $180.30. The stock has a market capitalization of $5.58 billion, a PE ratio of 174.10 and a beta of 1.31. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year 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, topping analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same period last year, the company earned ($0.29) EPS. The company’s quarterly revenue was up 32.6% on a year-over-year basis. As a group, equities research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler reiterated an “overweight” rating and set a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Truist Financial restated a “buy” rating and issued a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Leerink Partners raised their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 10th. Finally, Stifel Nicolaus restated a “hold” rating and set a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $233.58.

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.